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LATAM shares fall nearly 20% in one day as buy rumors intensify

This Friday, the 26th, the deadline for LATAM to present its reorganization program within the Chapter 11 process to which it is subjected expires. However, as much as executives have tried to instill confidence, the market seems to have more doubts than certainties about the company’s fate.

The clearest example of this, according to our partner site AEROIN, is given by the listing of the company’s shares on the Santiago Stock Exchange – the only place where they continue to be traded – today (Wednesday 24). The ticker tape of LATAM showed a fall of 18.5% at the close, cutting losses after having touched 21% in the intra-daily. This came in reaction to a report by German bank Deutsche Bank, which said minority shareholders “could be left with nothing” in the company’s reorganization plan. The bank also changed the recommendation to its clients from «hold” to “sell«, Foreseeing a fall in the value of the shares that will affect 98% of investors.

See also: According to reports, Azul analyzes buying LATAM Brazil

Meanwhile, rumors have increased in the networks that Azul continues to try to reach an agreement with creditors to make an offer for LATAM. It should be remembered that the founder of Azul, David Neeleman, had said at the beginning of the month that he was willing to buy the whole group.

However, all these versions are, so far, just rumors. The possibility that Azul can effectively acquire the group depends exclusively on whether the reorganization plan is not presented or, being presented, is not approved.

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HELEN HERNANDEZ

Helen Hernandez is our best writer. Helen writes about social news and celebrity gossip. She loves watching movies since childhood. Email: Helen@oicanadian.com Phone : +1 281-333-2229

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