Real estate juggler René Benko has to withdraw from his own company. Financial expert Gerald Zmuegg talks to Jana Pasching in the krone.tv talk about the backgrounds and effects on Signa and the real estate market.
René Benko had no choice but to resign: “For him personally, this is a death knell,” said Zmuegg. Giving credit and money also means giving trust. “And if people like Mr. Haselsteiner and many other industrial magnates publicly express their distrust, I assume that he will no longer receive money so quickly from other well-known investors.”
“There will definitely be a break”
What will happen next for Signa Group? “In my opinion, this indicates that there will certainly be a rupture, that is, a filleting.” We are going to see what we can sell in the real estate sector. In addition, there will certainly be discussions about whether the current board members, who are part of Benko’s circle of trust and have no experience with restructuring, are the right ones. This will cause prices on the real estate market to become even more out of balance, according to the expert.
What lessons can we learn from the Benko case? You can see this and more information in the video above.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
