Uncertainty for Vodafone ahead of Kabel Deutschland deadline September 8, 2013 VODAFONE said last night it will not back down on its requirement that 75 per cent of Kabel Deutschland shares be tendered before the €7.7bn (£6.5bn) purchase of the German cable company goes ahead, as the crucial deadline looms on Wednesday, “There’ll be no change to the conditions set out in our earlier announcement,” Vodafone [...]
Investor ire over Bakrie-linked firm’s bid for oil September 8, 2013 SHAREHOLDERS in a Jakarta-listed energy firm with ties to the Bakries are calling for answers after the company made a $225m (£144m) offer for oil and gas assets that investors claim are also linked to the family. Energi Mega Persada (EMP), in which the Bakrie family holds a minority stake, has announced plans for a [...]
Assad denies chemical weapons use as US presses for Syria strike September 8, 2013 SYRIAN President Bashar al-Assad denied that he was behind a chemical weapons attack on the Syrian people, as the White House yesterday pressed ahead with the uphill effort of persuading Congress to approve a military strike to punish Assad. The Obama administration faces a crucial test vote set for Wednesday in the US Senate and [...]
Zoopla hires bankers to draw up options for sale September 8, 2013 PROPERTY search website Zoopla yesterday said it had hired investment bankers from Credit Suisse as it eyes a float or potential sale of the business. The company, which is controlled by Daily Mail General Trust, is understood to have commissioned the bank to draw up a list of proposals to determine the future of the [...]
Kitchen King lines up advisers for flotation September 8, 2013 THE OWNER of household appliances website AO.com – previously known as Appliances Online – is understood to have hired banks to work on a £300m flotation on the London Stock Exchange. John Roberts, the founder of DRL Limited, which owns AO.com, has reportedly hired Jefferies and JP Morgan to prepare the company for a listing. [...]
Bottom Line: Don’t get overexcited at the first signs of life September 8, 2013 THERE’S two ways to look at London’s initial public offering (IPO) market in light of the torrent of floats (about 15 at the last count) coming to market. One, that this is the natural release of pent up demand as market sentiment improves. Or two, that slightly frothy markets have got everyone a bit too [...]
PwC boss sees reasons to be cheerful in flat markets September 8, 2013 Chairman Ian Powell tells Marion Dakers about how the accountancy firm is seeking new sources of growth I’M slightly concerned,” says Ian Powell. “I thought that the activity in the transfer window was tense, and we have not gotten off to the best of starts.” The chairman of PwC UK might be harbouring doubts about [...]
Monte Paschi doubles plans for capital hike September 8, 2013 ITALY’S Banca Monte dei Paschi di Siena will seek €2.5bn (£2.13bn) in extra capital from investors, more than double its original plan, under a revised bailout to shore up the loss-making bank, the economy ministry said last night. The revised plan is the latest measure in a painful recovery process for Italy’s number three bank, [...]
New Australian Prime Minister pledges to scrap green taxes September 8, 2013 AUSTRALIA’S Prime Minister-elect Tony Abbott yesterday said his first priorities are to scrap a tax on carbon emissions and stop asylum seekers arriving by boat. London-born Abbott ended six years of Labor party rule when his right-wing Liberal-National coalition claimed a landslide victory in Saturday’s general election. He spent yesterday in meetings with civil servants, [...]
BBA Aviation merger talks hit the skids September 8, 2013 JUST WEEKS after the tie-up talks were revealed, discussions between London-listed BBA Aviation and StandardAero have come to an end. Dubai Aerospace Enterprise (DAE), owner of US-based engine repair and maintenance business StandardAero, said yesterday it was no longer in talks with aircraft services firm BBA Aviation to merge parts of its business. The two [...]
