Have been reading about the TKL/Orange situation, there are many lessons to be learnt from the current saga. The problem is due diligence based on financial records may not be enough to justify partnerships. Books can be cooked, assets can be over-estimated/under-estimated as is the case with each parties case etc. Due diligence should also be based on performance, management and a proven track record to deliver. Which takes me to the next point : When local public companies take on board members, who performs the due diligence on such people? What criteria is used to say " ok, so and so is a top manager/ceo at so place and is therefore a candidate for the board position who will take the public entity to a new level "? Rgds. ( Am away for some weeks, so reading mails very randomly.)