At the end of the working week, the most interesting bits of off-record discussion concern a buyout or merger situation with one of the biggest service providers, and not just in this region. We won’t get more specific than that for now. Added to that, there’s considerable noise about a pair of Polish malls currently under offer (you know where) — quite possibly by the same buyer, in fact (you may not know that). There are other portfolios about that are being dealt with, but they’re not thought to be quite as advanced. As usual, call or write us with hints and tips.
On the euro crisis front, the biggest news of the week would probably have to be Slovakia’s better-late-than-never approval of the extension of the European bailout package. Along with that needless drama, there was the downgrading by UBS not just of Spain, but of UBS.
Several other banks were put on notice, but was UBS singled out because of its rogue-trader scandal? It’s a tough one, for a bank that had worked hard to restore its battered image.
On the other hand, they only caught the guy because he made some incredible losses. Where was the control when he was turning in incredible profits?
We’ll be in Budapest next week for what should be a fascinating round table discussion with some of the shrewdest observers of the market. Is Hungary’s window of opportunity really open? Is now the time? Which sectors? We’re covered as far agents, analysts and developers go, but we still have room for an investor or two, if anyone happens to be in town. Feel free to get in touch.