Shareholders that own a third of Intu may take the 2 bln pound UK shopping centre group private. Even at a 30 pct premium, the consortium would be paying a huge discount to asset value. But Intu’s existing debt and a shaky outlook for rents mean buyers would be taking a big risk.
The state has been stealthily reducing its role in industry by allowing private players to gain market share. There's appetite for a more aggressive approach. If national carrier Air India can be sold, look for banks, energy and other assets to follow if Modi wins a second term. This is a Breakingviews prediction for 2018. To see more of our predictions, click here.