The acute problems of the banking sector have, unsurprisingly, dominated this year’s corridor discussions. As everybody follows the day’s news closely, it’s not difficult to figure out a good small talk opening line at this year’s Mipim.
Despite the worrying news, we also have plenty of active investors present at Mipim. Helsinki and Stockholm haven’t ceased to attract investors, and the Nordic countries are still perceived as a stable and safe environment. Yet, few new deals have been closed this year, as the sellers’ valuations so far exceed those of the buyers. A change is expected after the Q2 valuations. Should we expect significant devaluations? Let’s see.
There is plenty of optimism in the air. The weather is as warm and beautiful as the Finnish summer, and you don’t need to search long to spot a smiling face among this year’s Mipim participants. The transaction teams wait impatiently to get going. Everyone is just hoping for a slightly clearer view of the near future and for some major player to make the first move.
Aarne Nurminen
Chairman of the Board
