Addison Lee lenders ‘circle’ taxi giant as sale effort continues October 26, 2019 Addison Lee has insisted it expects “a successful conclusion” to the “ongoing” sale process despite reports that its lenders are preparing to take control of the London taxi company. A syndicate of a dozen banks led by ING have drafted in advisers from Alvarez & Marsal (A&M) to consider their options, according to Sky News, [...]
Activist investor Elliott builds up $2.5bn stake in Softbank February 6, 2020 Activist hedge fund Elliott Management has reportedly built a $2.5bn (£1.93bn) stake in Softbank. The activist investor is discussing ways it could boost the value of the Japanese conglomerate, according to Reuters reports. One of the issues reportedly being discussed is how SoftBank can improve the decision-making process at its Vision Fund and the possibility [...]
Elastic, the open-source tech startup behind Uber and Tinder, scores $252m IPO October 6, 2018 Shares in Dutch open-source search startup Elastic skyrocketed as much as 106 per cent in its first day of official trading on the New York Stock Exchange yesterday, bucking the trend for tech stocks on Wall Street. The search and data analytics software firm, whose main product Elasticsearch powers technology behind big names such as Uber [...]
Uber-Deliveroo merger rumours spark investor fright as Just Eat shares tumble September 21, 2018 Shares in online food delivery service Just Eat tumbled as much as seven per cent in early morning trading, as news emerged that Uber is reportedly looking to buy rival competitor Deliveroo. Shares in the market leader Just Eat dropped to 647p, with other European food delivery firms Delivery Hero and Takeaway.com also being dragged [...]
Uber-Deliveroo merger rumours spark investor fright as Just Eat shares tumble September 21, 2018 Shares in online food delivery service Just Eat tumbled as much as seven per cent in early morning trading, as news emerged that Uber is reportedly looking to buy rival competitor Deliveroo. Shares in the market leader Just Eat dropped to 647p, with other European food delivery firms Delivery Hero and Takeaway.com also being dragged [...]
TfL gives Indian ride-hailing app Ola the green light July 4, 2019 Transport for London has given Indian ride-hailing app Ola the green light to launch in the city. Ola said it has received a private hire vehicle licence and planning to launch around September. Read more: French ride-hailing app Kapten puts Uber in its sights “We are looking forward to building world-class mobility offerings for London [...]
Private Equity vs venture capital: Opposite investment mindsets November 16, 2020 Private equity (PE) and venture capital (VC) firms have the same goal: maximising returns. Yet PE buyout and VC early-stage funds go about it in very different ways. Many prospective investors fail to appreciate that the two most popular alternative asset classes adopt often directly opposing methods to drive performance. VC’s deliberate diversification In asset [...]
Exclusive: ‘Banks should deliver the same experience as Amazon and Netflix’, says Ezbob CEO January 21, 2021 After a year that was hugely disrupted by Covid-19 and the entire economy and its workforce moved online, City A.M. sat down with Tomer Guriel, CEO of Mayfair-based Ezbob, which provides digital lending software to some of the biggest banks and financial institutions in the City. A vaccine is being rolled out, so the City [...]
Ex-Addison Lee chief races to secure rescue deal December 8, 2019 The former chief executive of minicab operator Addison Lee is scrambling to secure a rescue deal for the firm. Liam Griffin, who stepped down as chief executive in 2015 but remained on the board as vice-chairman, has approached investment funds to back his £125m takeover of the firm, Sky News reported. Read more: Cerberus mulls [...]
Former Ofcom boss to advise on Heathrow terminal monopoly probe December 5, 2019 A firm set up by the former boss of Ofcom has been appointed to advise the aviation regulator on whether Heathrow’s terminals could be operated by third-parties. The Civil Aviation Authority has selected Flint Global, which was set up by former Ofcom chief executive Ed Richards, to look into the possibility of allowing other companies [...]