With the possibility of new partnerships and alliances remaining open, Quest Holdings is moving forward. Market interest remains focused both on Quest’s stake in Fourlis and on ACS. In the second case, Mr. Fessas placed developments in October. “We will wait until October. Then it will be decided… so that we can go on vacation calmly!”, he said, referring to the discussions with the German side, on the sidelines of yesterday’s EY event.
As regards the stake in Fourlis, Quest’s chairman said there is room for synergies. “To achieve synergies is a good approach. We have many things in common”, he said characteristically. He avoided, however, prejudging the possibility of increasing the stake.
“We have stopped buying shares. We had decided at the Board of Directors on a specific capital ceiling that we would allocate. We will review this again in the second half”, he noted. And when asked whether something bigger could happen, he replied: “We do not know what the future may hold. We can plan, but we cannot know it”.
For the retail sector he appeared cautious, stating that the case of Kotsovolos was unique due to its leading position in the market. As for possible interest in Public or other chains, he implied that the group’s priorities have shifted. “I think we will move toward products with better profit margins”, he said.
By contrast, Quest continues to seek opportunities in the technology sector through Uni Systems. “We are constantly looking. What gives you prospects in business is the alliances you can create and the stakes you can acquire. Even at large scale, it is not enough to be on your own”, he stressed.
Regarding the recent price increases of Apple, he estimated that they may limit sales volume, without however affecting their value accordingly. “Apple has managed to become a desirable product and now operates close to the logic of luxury brands”, he commented.
Regarding Xiaomi’s electric cars, Mr. Fessas reiterated his interest in bringing them to Greece. And regarding the real estate market he said: “We are making selective sales so that we have capital for new placements”, he said, noting that this particular sector requires significant own capital.