Question-and-Answer SessionAntonio RealeBofA Securities, Research Division So I think let's dive straight into the sort of the main topic and start with tender offer. We are live with the offer period when you and your Board rejected the offer, I think you formalized a number of points as to why that was the case, 3 in particular, bear in mind I've asked the same question to -- on earlier. But please correct me or complement if you think it's wrong. The first point you mentioned was the offer significantly ...