CBA set to ditch CFS Retail Property Trust plan Business December 3, 2013 - 6:34AM Commonwealth Bank of Australia is on the verge of scrapping its planned internalisation of shopping mall ­landlord CFS Retail Property Trust Group after a tussle with the fund's independent board on pricing. Even after more than four months weighing up what price CFS" management is worth to shareholders, The Australian Financial Review reports there is a significant gap between what the bank believes is a fair price and what the fund's independent board expects. A value of as much as $400 million was once expected for the internalisation of the $5.86 billion trust but that has been pegged back. A final decision is expected from the bank after its December board meeting next Monday. If the internalisation is scrapped, the bank is likely to sell management rights to groups such as Charter Hall or a superannuation fund. Major CFS shareholder, BRW Rich lister John Gandel, is believed to be receptive to the ­alternative move. The trust manages buildings such the Emporium Melbourne, Chadstone Shopping Centre and The Myer Centre in Brisbane. Shares in the trust dropped 3.1 per cent on Monday to $1.98. The independent board and the CBA declined to comment on the standoff between the two parties. Read the full story at The Australian Financial Review.