Thames Water plans £15bn float October 25, 2005 RWE, the German utility, is considering spinning off the Thames Water business. A float on the London Stock Exchange (LSE) is expected to a capitalisation of up to £15bn. Thames Water left the LSE following the RWE acquisition in 2000. According to German press reports yesterday RWE is now weighing up a partial flotation, possibly [...]
The Phone War October 25, 2005 Richard Branson and Charles Dunstone lead our troops into battle over mobile networks in France. Precisely 200 years after Nelson’s victory at Trafalgar, a new Anglo-French battlefront has opened up, this one over mobile telephone networks. Sir Richard Branson is leading the troops in this latest skirmish. Yesterday, he announced a joint venture with Carphone [...]
Record profit warnings October 21, 2005 The number of British companies issuing profit warnings in September surged to a four-year record due to difficult market and trading conditions. According to research by Ernst & Young, 103 firms listed on the London Stock Exchange issued a warning in the three months to 30 September. This represents a rise of 39 per cent [...]
Hikma plans to float on LSE next month October 18, 2005 Jordanian pharmaceutical company Hikma became the second foreign drugs firm in a week to announce its intention to float on the London Stock Exchange. The multinational group, which specialises in generic, branded and injectable products, is to list on the main market early November with a price range of 265p to 330p, valuing it at [...]
Takeover bid for Easynet October 18, 2005 Easynet, the internet service provider, confirmed yesterday an approach by an unnamed bidder, widely believed to be BSkyB. When the London Stock Exchange opened, Easynet’s shares leaped 25 per cent on the news. The broadband operator is believed to be close to a deal with the Murdoch empire, for an offer price around £150m. It [...]
Partygaming winners are the founders October 17, 2005 PartyGaming, the online poker company, reveals its hand on Friday and investors in this summer’s flotation will be able to see the cause of their losses. The company came to market on the back of rapid growth: this week it will reveal that growth has ground to a halt. Do not compare this week’s revenue [...]
Advisers in all night Refco talks October 17, 2005 Refco held a second day of weekend meetings yesterday as a group of about 50 advisers gathered in New York in an effort to salvage the disgraced group’s regulated futures brokerage arm and determine the fate of its ailing operations. The advisers had begun emergency meetings on Saturday that stretched late into the night to [...]