LONDON, Nov 21 (Reuters) - The shares and bonds of CPI Property Group (O5G.DE) fell sharply on Tuesday after short-selling hedge fund Muddy Waters said it had bet against the credit of the Luxembourg-based commercial landlord.
In a report, seen by Reuters, the fund said CPI Property Group's controlling shareholder, Czech billionaire Radovan Vitek, had misstated the value of the company.
CPI Property Group's Frankfurt-listed shares were last down 2.8% on the day, while the price of its 2027 medium-term note fell 3.5 cents on the day to 70.259, data from Tradeweb showed.
Muddy Waters did not specify against which bond it had taken a short position and the company has several outstanding notes listed.
CPI Property Group owns properties in Germany, the Czech Republic, Poland and elsewhere in Central and Eastern Europe.
Persons:
Muddy Waters, Radovan Vitek, Nell Mackenzie, Amanda Cooper, Jason Neely
Organizations:
CPI, Reuters, Group's, CPI Property Group, Thomson
Locations:
Muddy, Luxembourg, Czech, Group's Frankfurt, Tradeweb, Germany, Czech Republic, Poland, Central, Eastern Europe