Intrum AB (publ) (INTRUM) Q4 2025 Earnings Call

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one major shareholder that has gone from plus 30% to maybe 10% or 11%. And then we don't really have much institutional ownership. So, of course, we would welcome a long-term investor or a couple of long-term investors that shares our view on what we can create in the future. When we think about it, when you say, okay, this one has cash flow two or three years out, your funding costs, I guess, on the margin at least today is high single digits. I mean, should we interpret that as you would be maybe not very willing, but at least willing to consider selling things at a book loss? Because it would allow you to deleverage faster. I mean, you haven't sold any meaningful loss in the past. I just wondered if there's a change in how you view these things now. I mean, I think we are going to be very sensitive to selling anything below book value. I think the recent transaction just shows what kind of appetite we have. So, I mean, I think there's a strong hurdle before we actually go ahead and do something opportunistic, and that is we can clearly show there's a value for Indrum and its shareholders, and it helps us on the deleveraging. And I think that's where we're going to leave it. But there are... There's a lot of people out there who looks into this space and what might be less value to us might be much more value to them. And I think that's the kind of the type of combinations we're trying to find. Thank you very much. Thank you. Okay, and I'm going to transform myself from a CFO to a moderator because we have a few questions coming in in writing format as well. I'll ask you one. So the first one is, what are your major considerations when assessing the advantages and disadvantages between owning 100% and minority stake in an SDR? I mean, that's a very interesting ques...