Anonymous sources
CITY A.M.
Greek banks in line for €18bn recapitalisation - CITY A.M.
Maybe we will get it tomorrow,” said the banker, who did not want to be identified. The funds are needed to recapitalise Alpha Bank, National Bank of Greece, EFG Eurobank and Piraeus Bank. Once they receive the recapitalisation, in the form of European ...
Webster to step down as IHG chairman - CITY A.M.
A source close to Webster said that no date had been set yet for his departure, but that he is likely to leave later this year. The owner of Holiday Inn and Crowne Plaza brands has already kicked off a search for his replacement, with Sir Stuart Rose, ...
Mattel close to deal for Thomas the Tank Engine - CITY A.M.
Hit has been owned by private equity firm Apax Partners since 2005, but US sources close to the deal have said a sale could be imminent, according to Sky News. Apax hired Bank of America Merrill Lynch almost a year ago to advise on a possible sale, ...
AT&T may dodge break fee - CITY A.M.
AT&T may not have to pay Deutsche Telekom a multi-billion dollar break fee, even if its $39bn (£24bn) acquisition of T-Mobile USA falls through, according to people familiar with the matter. The US government last week went to court in an attempt to ...
Thomas Cook to sell £200m of its assets - CITY A.M.
A source close to the firm told City AM it was considering putting a range of assets on the block, including its stake in NATS, the air-traffic controller; its Indian foreign exchange business; and one of its European offices. ...
Glencore unlikely to move soon on ENRC - CITY A.M.
GLENCORE yesterday played down suggestions it would launch a takeover bid for Kazakh miner ENRC, but sources close to the firm would not rule out making an offer in the future. Top executives at ENRC, which last week sacked two of its directors and saw ...
Two exchanges ruled out of LCH. Clearnet tie-up talks - CITY A.M.
The London Stock Exchange ruled itself out of the fight, after earlier reports named the bourse as a contender, while a person close to Deutsche Boerse told City AM the firm would play no part in the talks. NYSE Euronext, which plans to merge with ...
Betfred to lay out the details of £200m offer for Tote bookmaker - CITY A.M.
Bookmaker Betfred will announce today that it will bid almost £200m for the government-owned betting chain, and will earmark an additional £11m payment this year for the racing industry, a person close to the deal confirmed last night. ...
QUEEN'S FORMER SPINNER TAKES CENTRE STAGE AT ROYAL WEDDING - CITY A.M.
The chief executive of a leading stockbroker, who refused to be named – “I want to keep my head, not get it chopped off” – said: “Of the list of things I am bothered about, this one bothers me not at all. “Why couldn't William and Kate get married on a ...
Peel must up bid to secure film business - CITY A.M.
Peel Holdings, the majority shareholder in Pinewood Shepperton, will be forced to pay substantially more than its initial 190p per share approach for the film studio, according to a source close to the deal. On Friday, Pinewood disclosed that it had ...
Glencore gets a green light in Hong Kong - CITY A.M.
HONG Kong has given Glencore permission for the Asian leg of its float, according to sources close to the commodities giant. The commodities and trading giant, which is valued at $60bn (£37bn), received a letter on Friday giving it the go-ahead for its ...
Southern Cross aims for rent deal - CITY A.M.
STRUGGLING care home operator Southern Cross is preparing for “hardball negotiations” with landlords to cut its massive rental bill, a person close to the firm said yesterday. Southern Cross last week wrote to around a third of its landlords to request ...
Heron Tower rent hunt hots up as McDermott moves in - CITY A.M.
Agents CB Richard Ellis and Cushman & Wakefield have held talks with several international firms keen to take space, including US and Chinese companies looking for a base in London, a person close to the firm said yesterday. For comparison, the Gherkin ...
PPL to pay £3.5bn for E.ON arm - CITY A.M.
PPL, which beat a rival bid from Hong Kong billionaire Li Ka-Shing according to people familiar with the matter, also plans to assume £500m of debt. The deal, expected to close in early April, is set to create the largest network of electricity ...
PPL in £3.5bn deal for E.ON's UK network - CITY A.M.
PPL, which beat a rival bid from Hong Kong billionaire Li Ka-Shing according to people familiar with the matter, would also assume £500m of debt. The deal, expected to close in early April, would create the largest network of electricity delivery ...
Santander UK IPO could hit further delay - CITY A.M.
THE slated £5bn float of a fifth of Santander's UK business might not get away until 2012, according to a person close to the IPO process. ...
Property start-up close to buying Centre Point from administrator - CITY A.M.
NEW property developer Almacantar is on the verge of buying the Centre Point skyscraper in the West End, according to sources close to the firm. ...
LONDON TO LOSE OUT IN £30BN MEGA-FLOAT - CITY A.M.
According to people familiar with the matter, Hong Kong is muscling in on the IPO of the Swiss-based firm, with Glencore “tempted” to go ahead with a joint ...
Apax close to buying ISS for up to $8.5bn - CITY A.M.
LONDON-based private equity group Apax Partners has won exclusive talks to buy cleaning giant ISS for up to $8.5bn (£5.3bn), sources close to the companies ...
Carlyle mulls IPO in 2011 - CITY A.M.
US private equity firm Carlyle Group is considering an initial public offering (IPO) next year to grow its funds' capital base, sources said yesterday. ...
Hands to fight to retain EMI - CITY A.M.
GUY Hands' private equity group Terra Firma will fight to keep hold of beleaguered music label EMI, a source close to the company said yesterday. ...
Dudley could cut dividends at BP by half - CITY A.M.
However, a person close to BP said yesterday that chief executive Bob Dudley would not be joining Cameron on his first official trip to the country as Prime ...
Man Group to axe up to 200 jobs next year - CITY A.M.
MAN Group will axe up to 200 jobs over the next year, according to sources close to the firm. The world's largest listed hedge fund has already identified ...
Aviva investors tell RSA to up £5bn offer - CITY A.M.
It's totally up to the Aviva shareholders now, if they think this deal is important,” said a person close to the situation. Aviva, the only insurer in the ...
Virgin close to legal action over media JV - CITY A.M.
Virgin is now leading the charge against the service, which sources close to the firm claim will place the UK's broadband network under too great a strain. ...