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Wednesday, September 24, 2014

Eurnekian: 'If it is in Soros' hand to do something, I think he will'

Business tycoon Eduardo Eurnekian expressed confidence that billionaire George Soros, who met with President Cristina Fernández de Kirchner in New York last Monday "may be well positioned to help broker a deal," in reference to the dispute between Argentina and so called vulture funds.

“He has the financial resources, he has the knowledge,” Eurnekian said. “If it is in his hand to do something, I think he will,” he added in a television interview at Bloomberg’s New York headquarters.

He affirmed he is interested in helping resolve the dispute and has held talks with banks and investors to find a private solution. Still, he’s not in a position to lead a resolution.

“I am a positive instrument to do something,” he said. “There are many businesspeople interested in doing something, but somebody - and not me - has to lead them.”

About Corporacion America, which controls interests in airports, energy, construction, nanotechnology and wines, he said it's in talks with banks to plan a share sale once values recover. The record $25 billion initial public offering from China’s Alibaba Group Holding Ltd. (BABA)last week isn’t enough to convince the businessman that now is the right time.

“Argentina is different,” he added. “The country has enormous resources to be delivered, explored and a lot of opportunities, and today values are very low.”

Corporacion America is paving the way to sell shares in global markets by opening a representative office in New York, he said. Argentine companies are hamstrung because valuations are too low for IPOs while interest rates are too high to sell debt after the nation defaulted for the second time in 13 years two months ago, he said.

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Tags:  Soros  Eurnekian  vulture funds  debt  Argentina  US  





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