Ross: Lack of value in mainstream prompted Cyprus investment

Wilbur L. Ross Jr., the newly elected Bank of Cyprus vice chairman and chairman of WL Ross & Co, has cited difficulty in finding “extreme value in the mainstream markets” as a reason behind his decision to invest in the Bank of Cyprus.
“We’re finding it very difficult to find extreme value in the mainstream markets,” Ross told the CNBC Squawk Box programme in New York on Friday, adding “we’ve moved into Greece, into Eurobank, and now into Bank of Cyprus. That’s going pretty far out on the periphery".