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Fly News Breaks for June 24, 2019
MLCO, MDEVF
Jun 24, 2019 | 13:40 EDT
JPMorgan analyst Joseph Greff believes Melco International (MDEVF) selling Cyprus project to Melco Resorts & Entertainment Limited (MLCO) "effectively boosts" its NAV by about $175M "for free" on a pro forma basis. This is equivalent to 6% of Melco's current market cap, which means its shares could go up by 3%-4% on this news.
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