Tuesday, July 8, 2008
buy-to-let lender is worthless
Pali International, a stockbroker, cut its target price for the bank to "zero" and calculated B&B's "net present value" to be -14p. In a separate note, banking specialist Fox-Pitt, Kelton said: "We cannot rule out the possibility of an effective failure with shareholders receiving little or nothing for their shares." No wonder Steven Cranshaw was feeling ill.