Wall Street Journal
company betting billions to create a trans-Atlantic shopping-mall giant
is playing a riskier game than its investors are used to. In a riskier
retail world, though, that may be no bad thing.
The mall deal
hasn’t gotten much attention, but its dramatic size and breadth, and its
timing, during a period of pessimism about traditional retailing, make
it worth watching. Franco-Dutch mall giant Unibail-Rodamco, which owns
$52 billion of retail real estate in Europe, is set to buy Australian
developer Westfield, owner of a $22 billion mall portfolio in the U.S.
and U.K. . . . more