Takko - leaving so soon
All,
Please refer to our unchanged analysis here.
News this evening from Takko seem to reflect the situation we have been pointing out for a while. The departure of both CEO and CFO seems sudden and not nearly as planned as the press release suggests.
As Alix partners are taking over as interims CFOs and the chairman once again takes over the rains as interims CEO - only just after hiring the last interims CEO, we wonder if the coupon was paid in error after all.
We remain short Takko for 5% of NAV.
We are awaiting further news to come soon.
Wolfgang
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