million loan for a panamanian company to a cyprus thatny and they assigned for one dollar to another company and then assigned it to another company for another dollar. in england, the version of this is guernsey. how is it perceived? john out this thisof is not about vladimir putin. it's about 11.5 million files from the fourth-largest offshore firm. if you are trying to conceal your wealth, that's not illegal but your issue is you are looking at a law firm you are with and how much protection they have. this is a huge security breach and it could be a massive issue for the rest of the year. you look at this come a lot of international banks are implicated in moving these funds around. wait until the authorities get into this. stephanie: other banks take it on the chin yo but when you are a regular bank, this is your business line. tom: i look at this as it unfolds and i think the important thing is it is completely different than wikileaks. there will be a lot of people dragged into this but out of it will come 20 or 30 unique stories that are very embarrassing. david: we have just
i want to point to the book on cyprus, .45. your price to recovery story, priced as a stock that has issues with mvls. why the step up to the big stage on london is the right thing to do right now >>? the sectors, and on germany it is more than that. there are new reference point for you. we've been talking about fighting liquidity and value discovery for our stock for more than a year now. the cyprus exchange the quiddity is too low for a balance sheet that has more than 3 million in equity. we need to find more long-term investors, greater liquidity in the stock, and the story to long-term investors. >> will you be able to do this? >> wilbur pushes you on everything, and that is the nature of having an investor in your stock. it was initially my idea. >> he is saying something else. >> we are all saying we need the highest standards of corporate government, corporate banking, we need to tell our story to a wired or audience -- wider audience, and it can be done by longer-term investors. the preliminary first quarter earnings
the price to book on bank of cyprus, 4.5. you are still priced as a recovery story, as a stock with problems and issues with mpl. why the step on the big stage to london? why's that the right ring to do? >> the german banking sector is priced at about the same as us. that is a new reference point for you. we have been talking about finding liquidity for more than a year. the athense it clear and cyprus exchange liquidity is too low for a balance sheet with more than 3 billion and equity. we need more long-term investors and greater liquidity in the stock. we need to tell our story to long-term investors. is the nature of having an active investor in your stock. the london listing was initially my idea. >> is not saying i need london to get out? board is saying, we need the highest standards of cooperation, transparency, tell our story to a wider audience, and to know that this stock with this equity can be owned by long-term investors. >> preliminary first quarter earnings coming in. smartphoneaxy s7 proving to be a surprise.
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