A representative of the hedge funds, which together hold about 20 pct in Hypo Real Estate, said they are ready to act.
He added that so far open criticism has not been uttered in order to avoid a further slide of the share price but stressed that consequences are called for if the stock value does not improve.
'Then, a fresh start will be required,' the spokesman said, adding that chief executive Georg Funke has 'a large credibility problem'.
Hypo Real Estate's shares slumped more than 30 pct in one day in mid-January after the financier unexpectedly released key figures for the full year 2007 that showed the group was hit harder by the credit crisis than expected, forcing it to cut its dividend by two thirds to 0.50 eur per share. judith.csaba@thomson.com jcs/jfr COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2008 AFX News
