Trainline owner mulls £1bn sale as IPO plans build up head of steam May 15, 2019 The owner of ticketing firm Trainline is reportedly exploring a sale of the company alongside plans for a £1bn stock market listing. Read more: UK's biggest travel booking app Trainline considers £1bn flotation US investment giant KKR, which has owned Trainline since 2015, has approached a number of private equity groups to gauge interest in [...]
Revealed: Elon Musk’s half-a-billion dollar debt to banks helping Tesla fundraise May 3, 2019 Tesla boss Elon Musk personally owes $507m (£389m) to the Wall Street banks helping the electric car firm raise up to $2.3bn, it emerged yesterday. Read more: Tesla looks to strengthen with $2.3bn fundraising round The lending was disclosed in a Tesla prospectus for the fundraising, and showed the debt to be $117m less than [...]
Anglo American gears up for takeover fight with mining tycoon Anil Agarwal April 21, 2019 Anglo American has called in the support of three investment banks to help it fend off a hostile takeover bid from mining tycoon Anil Agarwal. The London-listed mining firm has asked its advisers Morgan Stanley, Goldman Sachs and Centerview to draw up a plan to defend the company against Volcan Investments, Agarwal’s holding company, according [...]
Corbyn is as much a threat to the City as a no-deal Brexit April 16, 2019 The Prime Minister is currently on a walking holiday in Wales, while parliament is on Easter recess. This would be a moment for calm, except that Theresa May’s infamous walking holiday in April 2017 ending in her calling an unexpected General Election. Avid Westminster watchers are nervously wondering whether another snap poll is imminent. While [...]
Lyft shares hit new lows on reports of record $100bn Uber float April 10, 2019 Shares in ride-hailing app Lyft fell to record lows today following reports the float of arch-rival Uber could be one of the largest in history. Lyft’s shares plunged as much as seven per cent to $62.91, well below its opening price of $72. Read more: Uber IPO 'seeks to sell $10bn of shares' The fall [...]
Gizmodo and The Onion snapped up by private equity firm Great Hill Partners April 8, 2019 US private equity firm Great Hill Partners has snapped up Gizmodo Media Group and The Onion from Spanish-language media giant Univision for an undisclosed sum. The newly-formed group, which will be renamed G/O Media, will be led by media veteran Jim Spanfeller, who previously served as chief executive of Forbes. Read more: Google hands out [...]
Grab eyes $2bn more funding this year as it looks to create ‘app for everything’ April 8, 2019 Softbank-backed startup Grab is hoping to raise another $2bn (£1.5bn) in funding this year as it embarks on an aggressive expansion plan. The Singapore-based ride-hailing app has already raised $4.5bn in a fundraising round led by Japanese investment giant Softbank. Read more: Lyft takes a wrong turn as shares fall below float price But chief [...]
Pinterest’s valuation slips as it looks to raise $1.3bn in New York float April 8, 2019 Social media platform Pinterest plans to raise as much as $1.3bn (£995m) when it floats on the New York Stock Exchange this year. Pinterest will put 75m shares up for sale at its initial public offering (IPO), with a price tag of between $15 and $17 per share. Read more: Lyft IPO paves way for [...]
Morgan Stanley selected to steer Uber through $120bn IPO April 5, 2019 Morgan Stanley has reportedly been chosen to ensure Uber has a smooth ride through its initial public offering (IPO) after a string of volatile tech floats have set nerves jangling. The ride-hailing app has named the US investment bank as stabilisation agent for its eagerly-awaited IPO, Bloomberg reported, citing people familiar with the matter. Read [...]
Germany could get up to 5,000 new finance jobs in the next 18 months because of Brexit April 3, 2019 Up to 5,000 new jobs at overseas banks in Germany could be created in the next year to 18 month because of Brexit, the country’s foreign banking association said today. The lobby group for non-German banks in Germany told an event in Frankfurt that almost 50 financial institutions had decided to ramp up their activities [...]