"Finland's YIT sold its network business to Relacom Finland.", "The network business consist of 1,000 people and the transaction is valued at 25 million euros in cash ."
"Relacom owner is Altor ,a private equity firm focusing on investments in Nordic-based companies." I'm wondering what will happen to the network business employee, does YIT care? I guess not they got cash in exchange...
"The builder added the sale would leave its full-year outlook unchanged."
So YIT is in free fall, surprising? NO. The market participants are just reflecting their view on the real estate market down the road.
If you own YIT shares, then if it breaks the critical value of 15.90 euro, then selling is your best option as the share will head toward the 3 euro mark within 6-12 month... It's a bearish call but a reality on a market founded on high return 'illusion' and greed.
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