PUB CHAIN TYCOONS IN CONCERT AT THE RACES September 27, 2011 ON Monday, the issue of concert parties on the shareholder register of Mitchells & Butlers resurfaced, after racing tycoons John Magnier and Derrick Smith issued a statement disclosing the size of their combined shareholding. Behind the scenes, the long-standing business associates – who have co-owned a string of racehorses – will get the chance to catch [...]
Piedmont hits out at M&B’s sluggish sales September 27, 2011 JOE Lewis yesterday signalled he will press ahead with a low-ball takeover offer for pub chain Mitchells & Butlers, after his investment vehicle Piedmont branded the group’s results “disappointing”. “It is a very disappointing score card for all shareholders and we are seriously considering our options,” said a spokesperson for Piedmont owner Joe Lewis on [...]
Credit card provider SAV sold for £472m September 27, 2011 INVESTMENT manager Värde Partners has snapped up credit card provider SAV from its consortium of backers in a £472m deal. SAV, which manages about 500,000 credit card accounts with more than £600m in assets, had been majority owned by Palamon Capital Partners, Electra Private Equity and Morgan Stanley Alternative Investment Partners. Minnesota-based Värde wants to [...]
3 boss unveils plan to double customers September 27, 2011 THE NEW boss of mobile network 3 yesterday laid out ambitious plans to double the firm’s customers but said he is “very worried” rivals will attempt to dent its plans by delaying the upcoming mobile spectrum auction. David Dyson, speaking publicly for the first time since taking the reins from Kevin Russell, said he plans [...]
ANALYST VIEWS: WHAT DID YOU TAKE FROM DMGT’S RESULTS? September 27, 2011 LORNA TILBIAN | NUMIS The tone of DMGT’s conference call was one of cautious optimism. Management’s downgrading of guidance to the ‘lower end of the range’ was due to cover price discounting at the Mail on Sunday following NotW’s closure. JONATHAN JACKSON | KILLIK & CO The group has delivered a solid revenue performance, driven [...]
Slide in regional ads to push DMGT to full year profit fall September 27, 2011 DAILY Mail & General Trust (DMGT) will see its full-year profits slip after taking a hit from a faltering consumer advertising market. Ad sales at its national newspaper business were robust, but were offset by torrid trading at its regional operations, which saw revenue fall 11 per cent in the last quarter. Online ad sales [...]
QUERCUS LIFTED BY LARSSON AFTERGLOW September 27, 2011 PUBLISHER Quercus said yesterday it had managed to attract some big name book deals after the phenomenal success of its Stieg Larsson hit The Girl with the Dragon Tattoo. Quercus recorded sales of £12m in the first six months of 2011. Pre-tax profit rose to £3.4m, up marginally on 2010’s £3.3m. Chief executive Mark Smith [...]
iPhone 5 expected next week September 27, 2011 Apple is expected to unveil its much-awaited new iPhone next week, with analysts speculating it could sell as many as 26m units in its first three quarters on sale. The secretive firm announced it will hold an event at its headquarters in Cupertino next Tuesday. Its shares rebounded yesterday after taking heavy losses in the [...]
RIM jumps on Icahn speculation September 27, 2011 Shares of Research In Motion jumped more than six per cent yesterday morning on market speculation that activist investor Carl Icahn had taken a stake in the struggling BlackBerry maker. Its shares have lost some 60 per cent of their value this year, and the Canadian company has been the target of several investor attacks [...]
Europe plans internet charter September 27, 2011 The Council of Europe plans to establish an internet user charter to guarantee the rights of consumers in an era of increasing government attempts to seize control of the web, its deputy secretary general said yesterday. Internet activists say governments ranging from Egypt to Pakistan have been trying to control the internet through tactics like [...]
