US private equity firm in early talks over stake in Formula One May 24, 2016 US private equity firm Silver Lake is in early-stage talks with CVC Capital Partners over a stake in Formula One (F1) motor racing. CVC Capital Partners, which currently has a 35 per cent stake in the sport, has been exploring a range of options for some time. The talks with Silver Lake, first reported by [...]
Mapped: These are the UK’s best places to launch a startup May 24, 2016 With startup rates hitting record highs, the UK is fast becoming a nation of fledgling businesses and ambitious entrepreneurs. In 2014 a record-breaking 581,173 startups began trading in the UK, but how many have survived their fledgling years of operation? Where a startup chooses to start its life could play a key role in its [...]
PPF and administrator in discussions over possibly placing BHS into liquidation May 24, 2016 The Pension Protection Fund (PPF) is in talks with BHS' administrators over placing the retailer into liquidation, as fears grow that the company cannot be saved. The PPF, which is the company's largest unsecured creditor, is thought to have entered the discussion because it wants to maximise the potential returns for creditors. The conversations between the [...]
Reform Openreach’s relationship with BT or public anger at the UK broadband market will only rise May 24, 2016 Anyone who read the papers last week might be forgiven for thinking that Britain’s broadband troubles are over. After years of rising anger about poor reliability, speed and coverage, a new piece of legislation is on the way, aiming to deliver universal coverage. Unfortunately, this is not a panacea and, while the recently announced Digital [...]
Brexit threatens London’s world beating tourism industry: Don’t let the capital become a museum May 24, 2016 Tourism is one of our biggest exports – and London is the most-visited city on earth. But the industry is worried that this world-beating ranking could be at risk if Britain cuts itself off from Europe. In fact, Europe is our biggest tourist market, with more than 60 per cent of visitors to the UK [...]
Wealthy foreign family named as potential bidder for BHS May 23, 2016 A wealthy overseas investor is reportedly in talks to save the high street clothing store BHS. The bidder has launched a new vehicle with the intention of taking over the ailing retail company within the next 48 hours, according to Sky News. Sources speaking to Sky News could not confirm the exact identity of the bidder, [...]
Crunch week as BHS seeks a fresh start May 23, 2016 BHS hopes to enter a new era this week with the business set to be sold while its administrators prepare a high court complaint against the retailer’s former boss Dominic Chappell. Administrators plan to announce BHS’ new owner in the coming days, with bids understood to have come from Matalan founder John Hargreaves, Poundstretcher, and an [...]
IP-O2: Mobile operator strongly considering stock market float May 22, 2016 O2 is strongly considering a stock market flotation, City A.M. understands. An initial public offering (IPO) is one of a number of options being looked at by the mobile operator following its failed merger with Three. However private equity firms are understood to be planning bids for O2, owned by Spanish company Telefonica, which could be [...]
Chappell facing High Court BHS suit May 22, 2016 Administrators for BHS are to launch a High Court suit against the retail chain's former backer. City A.M. understands that Duff & Phelps will file a suit on Monday, targeting Dominic Chappell and arguing that the businessman has not co-operated with its investigation into the retailer's collapse. Chappell owns a 90 per cent stake in Retail [...]
Former Pizza Express owner Cinven weighing takeover of Frankie & Benny’s owner Restaurant Group May 19, 2016 Frankie & Benny's owner Restaurant Group's share price jumped over six per cent after reports that Cinven is considering a bid for the group. The former owner of Pizza Express is thought to be considering a takeover bid for the struggling company, which operates Garfunkel's restaurant chain. Cinven is in the early stages of evaluating an [...]