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Hypo Real Estate needs more help from German state

Posted on 03 June 2009

From Bloomberg: Hypo Real Estate Holding AG will need more government aid even after the capital increase by Germany’s bank-rescue fund that the property lender is seeking shareholder approval for today.

“While today’s proposed capital increase is a vital part of the whole recapitalization of the company, it’s not sufficient,” Chief Executive Officer Axel Wieandt told shareholders at an extraordinary meeting in Munich today. He didn’t estimate the additional amount required…….Full Article: Source


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