Hedge fund manager of Paulson & Co., John Paulson, has deferred further investments in Greece for now, as a result of political uncertainty in the nation.
This past May, the manager's New York-based hedge fund attained a 5.4% share in Alpha Bank A.E., along with a 9.9% share in EYDAP S.A. EYDAP S.A. is Greece's biggest sewage and water supply corporation. Additionally, Paulson & Co. has solid investments in both Eurobank Ergasias and Piraeus Bank SA.
While attending this week's 6th Link Invest in Greece Forum held in Manhattan, the financier stated, "Our investment plans are on hold for now, until we see the result of the presidential election," according to ValueWalk.
Paulson also commented, "It's too early to hold fresh elections. The uncertainty has caused a drop in Greek stock markets and shares, while new investments are being postponed. The best course of action would be to avoid elections until June 2016 and give time to the current policies to act." The hedge fund manager added that he plans to further invest in Greece, "as soon as political stability is achieved."
- The game's afoot for airlines ahead of Greece's tourism opening
- The 62nd round of exploratory contacts between Greece and Turkey will take place on March 16 in Athens
- War and Power in Classical Greece: Lessons for Superpowers and the World
- Enterprise Greece reviewing 20 investments worth 7 bln euros, Foreign Min. official says
- PM and industry leaders discuss road map to innovative domestic biopharmaceutical sector