Westfield made that announcement for two reasons - a) to talk down the market in preparation to look at cheap centro assets and b) why would they sell when Centro may flood the market?
Banks will make out like bandits on centro.. first by taking a large equity stake at bargain basement prices, shortly followed by offering to lend at a premium.. once the refinancing is announced, they will double their money at least on the equity..
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
