Zorba
Bos 4 Mod
Grazie mille.
Analyst:
Apology. I have got two questions from a debt holder perspective. Firstly
around the potential for buyback. I know there is some comment on this at the
half year. I was just wondering if that still a consideration? And secondly,
again looking at the scenario ahead. If the state aid Tier 1 are converted,
will there be any implications for the offshore coupons on some of the
hybrids out there?
Ronald Latenstein, Chairman and Chief Executive Officer:
On the buying back and referring indeed to the comments we've made in the
first half. I think all of the options are still on the table. And therefore
this one also - on the table. I don't think we have changed our view on
those, clearly if and when it becomes relevant, we will make a notice to the
holders of those securities.
And to your second answer, not for say, i.e. it's not automatically that it
would impact because those two worlds are not necessarily directly linked
with each other. But we have said, we'll need to go to the EC in any form of
a comprehensive solution and the European Commission will take their view.
But as a company's point of view, there is no direct link between the two
unless it's being enforce upon us by some other entity.
