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But of course, agree no mortgage book sale is also possible.
even though the mortgage book is highly sought after does not mean they can agree on the price.
well the CEO said in the conf call that no deal on the mortgage book is possible if they can’t get the price they want. he’d rather keep it.
And the indicative price the CEO is willing to sell is a discount to par.
anyway, DYOR, I am clearly missing something.
Many reports write that the 3B mortgage book that metro is selling is widely considered to be a sought-after asset. this is the opinion of many in the banking industry, not Metro’s BODs solely. Furthermore, the 3B mortgage asset is worth more to large banks because they have AIRB. Hence a chance to get a win-win deal.
A sale RNS could be next week of course. but IMO the week after next is more likely. Metro wants to get a good price.
And again, IMHO there won’t be a takeover. Metro, with the billionaire banker backing, aspires to be the acquirer not the acquired.
SP has been weak despite bank stocks doing quite well past few days.
takeover bids seem less likely with finances sorted and the billionaire banker backing.
and IMHO it will take a while (was it at or by early Nov) for the 3B mortgage asset sales, they don’t want to do it too quick as price is important. the market saw that hence the intraday selloffs on monday, it was down a lot intraday.
I am already long the stock but unfortunately I come to realise that drifting towards 40p more likely until next positive rns or news. hopefully soon
Correct, no such option. it was sort of an incentive. most important is that the billionaire Jaime Gilinski brings his experience and reputation along with his money. arguably many has money but not the experience and reputation that he has