Deutsche Bank thinks the prospect of the William Morrison supermarket group raising debt against its £6bn freehold property portfolio and returning the proceeds to shareholders will provide a prop for the share price.
The broker thinks Morrison could issue mortgage-backed securities worth £3bn, which would increase earnings by a fifth in 2009.
Marc Bolland, the new chief executive, will present his strategic review on March 15.
Financial Times 24/01/07 page 42 (FT Markets –
