Saturday, August 29, 2009

Canary or songbird in the coal mine

Canary Wharf owner rescued by China and Qatar

Qatar and China have had to jump in to rescue Canary Wharf. Songbird Estates, which lost a mere £1.8bn last year , agreed to raise equity financing to safeguard its future - not so good for shareholder then. Analysts say the fundraising will be the biggest ever seen in the property sector - which just goes to prove the size of hole in the property sector. More write downs to come no doubt.

Posted by mikelivingstone @ 04:29 PM (561 views)
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