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Deyaar CEO refuses to comment on merger report

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Monday, 06 October 2008
NO COMMENT: Both Deyaar and Union Properties refused to comment on reports of merger talks. (ITP Images)
NO COMMENT: Both Deyaar and Union Properties refused to comment on reports of merger talks. (ITP Images)

The CEO of Dubai developer Deyaar refused to comment on Monday on speculation that the company was in talks with Union Properties regarding a possible merger.

Deyaar CEO Markus Giebel said such speculation was "not good for the market" when asked by Arabian Business about an earlier news agency report saying Deyaar was mulling the $4.3 billion merger.

A spokesman for Union Properties said they did not know anything about any proposed merger.

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0.73

+0.02+2.82%

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CURRENCY CONVERTOR

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READER COMMENTS

  1. Nakheel mulls $15bn IPO move - reports 2
    02 Dec ' 08 at 11:25
    In my view, this about-turn is really making things worse. First they're not affected. Woohoo we're building the world's tallest...  More »
  2. Merrill gives Emaar AED3 price target 2
    01 Dec ' 08 at 22:36
    thanks for the great assessment of emaar's stock merrill... it's much easier to make an assessment after the fact isn't it.where were...  More »
  3. $95bn Satwa redevelopment delayed 2
    01 Dec ' 08 at 23:32
    rents WILL go down with the property market.as home owners struggle to sell, they will be forced to rent.this combined with all of the...  More »
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