Unibail buys Westfield in fight against online rivals
Westfield founder Sir Frank Lowy has stepped up to the challenge posed by the rapid rise of Amazon by striking a tie-up with Unibail-Rodamco, Europe’s largest property company.
The shift to internet shopping has hit traditional malls hard and sparked a wave of consolidation in the retail property market. In the latest development, Unibail-Rodamco, Europe’s largest property company has acquired Australia's Westfield. Daniel Thomas discusses how the big mall operators are adapting to the online challenge with the FT's Aime Williams, Arash Massoudi and Miles Johnson.
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