Sunday, June 15, 2008

Help! We’re going under! Splash!

City plots rescue plan for ailing housebuilders

A group of Britain's biggest institutional investors are working on secret plans to provide direct funding to shore up the beleaguered housebuilding sector. Housebuilders have been squeezed by the slowdown in the housing market, while still having to pay for building works Bankers at UBS have drawn up possible plans for a wide-ranging placing by major shareholders in companies including Taylor Wimpey and Barratt Developments. The radical move comes after a plea from investors to the housebuilders, through their financial advisers, to abandon any plans to launch rights issues. One top investor said: "The message was, 'Please don't do a rights issue, just come to us and we'll put some money into a kitty and recapitalise the businesses directly'."

Posted by flintster1994 @ 09:03 AM (721 views)
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5 thoughts on “Help! We’re going under! Splash!

  • flinster.. you forgot the “plop”, then “splash”.

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  • It won’t work.

    This is like engineers sitting round a table in the lower decks, designing a new souped up propshaft for the titanic while the passengers have already taken to the lifeboats. Or drowned.

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  • Cheekie Charlie says:

    I would of thought after the boom years these house builders would have a mountain of year after year of bumper profits. Where has it all gone? May be they are a hungry beast fed on cheap credit pretty much like UK Plc. in general.

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  • shipbuilder says:

    What happened to the market sorting things out?

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  • last_days_of_disco says:

    This is all rubbish. If we can see its rubbish, UBS can. They are just going to make as much as they can out of these crazed nut jobs and leave them with nothing.

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