Vonovia Criticised for Transparency After Analysts Denied Questions in Call
Transparency Concerns Raised Over Vonovia's Analyst Call
Allegations from TR Property Investment Trust
DUESSELDORF, May 11 (Reuters) - British investor TR Property Investment Trust has accused German real estate group Vonovia of lacking transparency because some analysts from major banks were unable to ask questions during a recent call with management.
Marcus Phayre-Mudge, a fund manager at TR Property Investment Trust, said the analysts were "deliberately denied" the chance to ask questions.
Shareholder Expectations and Response
"That falls short of the transparency shareholders should expect from one of Europe's largest listed property companies," he said.
TR Property Investment Trust said it holds a 0.16% stake in Vonovia and would raise the issue with the company's supervisory board.
Vonovia's Statement and Justification
Company's Approach to Investor Questions
Vonovia said in a statement it addresses critical questions from investors in a variety of forums but had decided to shorten quarterly analyst calls.
Reasoning Behind Shortened Calls
"When questions are repeated, it unnecessarily prolongs the calls," Vonovia said, adding it had received support from investors to keep the calls focused.
Reporting and Editorial Credits
(Reporting by Matthias Inverardi. Writing by Tom Sims. Editing by Mark Potter)
