VIENNA, March 22 The head of property firm CA
Immo said Immofinanz must shed its Russian
assets by the end of the fourth quarter for merger talks, which
are currently stopped, to be completed in time for shareholder
meetings in May 2018.
CA Immo Chief Executive Frank Nickel said on Wednesday the
companies had not yet agreed on the future strategy of any
merged entity, nor had they looked at one another's books, which
he said made for a difficult, unstable situation.
He said it was impossible to talk about possible synergies
of a merged entity before common strategy is decided. CA Immo
Chief Financial Officer Hans Volkert Volckens said the
relationship with Immofinanz was constructive.
(Reporting By Shadia Nasralla; editing by Francois Murphy)