The Unibail Rodamco (ASX: URW) share price is down 2.7% to $11.72 today despite the giant real estate investment business that recently bought Westfield's international assets not releasing any specific news to the market.
Former owners of Westfield shares may still own Unibail Rodamco shares after the May 2018 deal that saw Westfield shareholders receive a mix of cash and Unibail scrip in exchange for their shares.
At the time of the deal Westfield's founding Lowy family sold down most of its holdings in global shopping centre businesses following on from the sale of a substantial part of its holdings in the ANZ shopping centre Westfield businesses via the spin off of Scentre Group Ltd (ASX: SCG).
As such critics suggested the founders were selling down as they could see the writing is on the wall for the long-term growth prospects of even the best shopping centre assets given the rising popularity of online shopping and home delivery services.
The Unibail Rodamco share price is now down about 20% since its CDIs hit the ASX boards last May and its primary listing remains on the Paris Euronext stock exchange.
The company is due to hand in its audited fiscal year 2018 profit report on March 27 from its Paris-based headquarters.
