And who says the shareholders are willing to sell their shares at the current price? đ
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@fabfrey98 It certainly wouldnât be a fair or transparent move on the part of the government. Still, I think a purchase would be much easier and less problematic than expropriation.
Of course, I donât know what that would look like in practice, since Iâve never planned toâor been in a position toâbuy out a publicly traded company. I imagine you wouldnât just be able to place an order on Tradegate. đ
I think the âeasiestâ way, if necessary, would be for project companies, KfW, or various federal agencies to gradually buy up shares below the reporting thresholds on the market over the coming weeks and months, while simultaneously approaching the major institutional owners of Vonovia. Later, an offer would be made to the shareholders, followed by a squeeze-out.
Of course, I donât know what that would look like in practice, since Iâve never planned toâor been in a position toâbuy out a publicly traded company. I imagine you wouldnât just be able to place an order on Tradegate. đ
I think the âeasiestâ way, if necessary, would be for project companies, KfW, or various federal agencies to gradually buy up shares below the reporting thresholds on the market over the coming weeks and months, while simultaneously approaching the major institutional owners of Vonovia. Later, an offer would be made to the shareholders, followed by a squeeze-out.
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@NichtRelevant Sure. Nevertheless, the shareholders must be willing to sell their shares at the offered price. In such a situation, that would drive the price up enormously. It won't amount to either a regular purchase or expropriationâŚ
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@fabfrey98 I also believeâneither one nor the other.
The purchase wonât happen because the state of Berlin doesnât have the funds, and the new state government also wants the expropriation to serve as a political statement. The primary goal isnât lower rents or the creation of housing (in which case they would build new units), but rather the âfight against capitalism.â They want to get back at âthe richââthe first step toward socialization in all areas and a return to socialism. The federal government wonât support a purchase either, since this is, after all, a project of the political opposition. The purchase is therefore really more of a thought experiment than a realistic possibility.
In my opinion, the expropriation wonât happen either, but there will be an amateurish attempt! No normal bank will finance an expropriation. No court will approve an expropriation based on arbitrary asking prices.
Even if thousands of apartments in Berlin were actually expropriated: It would only be the expropriation of the apartments; the associated organization would remain Vonovia and wouldnât be transferred along with them. Iâd be very surprised if the State of Berlin could set up a functioning real estate management systemâincluding technical services, billing, and building and tenant managementâovernight (especially under legally extremely shaky conditions). That will never workâif it does, it will end in a catastrophe costing billions, the aftermath of which will take decades to resolve.
The purchase wonât happen because the state of Berlin doesnât have the funds, and the new state government also wants the expropriation to serve as a political statement. The primary goal isnât lower rents or the creation of housing (in which case they would build new units), but rather the âfight against capitalism.â They want to get back at âthe richââthe first step toward socialization in all areas and a return to socialism. The federal government wonât support a purchase either, since this is, after all, a project of the political opposition. The purchase is therefore really more of a thought experiment than a realistic possibility.
In my opinion, the expropriation wonât happen either, but there will be an amateurish attempt! No normal bank will finance an expropriation. No court will approve an expropriation based on arbitrary asking prices.
Even if thousands of apartments in Berlin were actually expropriated: It would only be the expropriation of the apartments; the associated organization would remain Vonovia and wouldnât be transferred along with them. Iâd be very surprised if the State of Berlin could set up a functioning real estate management systemâincluding technical services, billing, and building and tenant managementâovernight (especially under legally extremely shaky conditions). That will never workâif it does, it will end in a catastrophe costing billions, the aftermath of which will take decades to resolve.
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