I'm with you Marcus - the banks are already hurting, if one or both go under then they will be bleeding a whole lot more... This is bad for all their shareholders.... It is easier for them to write off the loss now to recouperate the what they have lost plus more by working with CNP....
I think the other big thing to mention is if CNP goes under and there is a fire sale of CNP properties then all commercial properties will loose value and suffer, pushing more companies into financial difficulties.... its also worth mentioning that CNP's main opposition is Westfeild and Westfield is backed majorly by CBA... meaning that CBA will have another major commerical shopping centre company facing financial difficulties... For CBA this would be to much to handle...
For these reasons I believe that the banks are forced to work with CNP to ensure that their P/L remains in tact for their shareholders...
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