Sunday, February 6, 2011

What values are at risk of collapse if the boxes sold?

What today are still savings within eight months in many cases will be banks that are publicly traded. Throughout this process, banks should increase their core capital (amount of money that must be within the entity about the risks incurred) to meet the standards of transparency and credibility driven by the Government.

To fulfill this mission, one possibility that should not be ruled out is that one or more of the existing institutions recapitalize by selling assets.

And here we reach the crux of the matter: one of the most viable ways of getting a capital injection is to list the shares that the savings are in the pipeline.
Which would involve up to 42 values of the Spanish market. The question is the impact it would the sale of shareholdings on listed companies in question.
We saw a clear example last week with the birth of Caixa-Bank. The big box known Catalan resolve questions about the fate of its industrial portfolio by keeping your jewelry (Telefónica and Repsol) in Criteria, and leave for the unlisted bank services and real estate (Natural Gas, Abertis).

According to Marc Batlle, to the fund Elcano, the priority is to leave La Caixa bank's future healthy and go selling the shares in Criteria. Regarding to the shares which he holds on Metrovacesa (5.2 percent), the analyst explained that this "is inside the basket of securities where there is no clear buyer interest, it will draw off to the extent that they have to face maturity. "
This same statement may apply up to 18 companies of 42 and above with either a clear recommendation to sell, either by inclusion in the portfolio of savings that may have sanitation needs in the short term (or both factors). The question is: why the sale of shares in their companies collapse in the stock market?


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