Thursday, March 20, 2008

Bear buy fuels London real estate fears

LONDON (Reuters) - JP Morgan's (JPM.N: Quote, Profile, Research) cut-price takeover of rival Bear Stearns (BSC.N: Quote, Profile, Research) has thrown open the U.S. bank's London office requirements at a time when tenant demand in Europe's premier financial centre appears vulnerable.

"It's the question we're all asking ourselves," said one leading London property broker, on condition of anonymity.

"Do they (JP Morgan) need a bigger headquarters or a smaller one?" he said.

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