Tesco considers move into Reits - papers 24th March

The move would allow the retailer to place its property into a separate quoted vehicle and use the money raised from selling shares in this entity to buy back its own shares, says the Daily Telegraph. The revelation comes two days after Chancellor Gordon Brown announced final plans for Reits, allowing firms to place property into a Reit from January 1 next year. MEANWHILE, BRITAIN’S listed property market is forecast to treble to £100bn over the next five to ten years with the introduction of Reits, says the Times. The forecast came from analysts at Credit Suisse First Boston. The int...