Richard Windsor, senior telecom analyst at Nomura Securities in London, says: “So far growth has come from new subscribers coming onto the network and that’s all over now. Future growth of a substantive nature is depending on coming up with compelling new services which are unclear at present.” Service like downloadable music and video clips, […]
Coller Capital has closed its fourth fund at $2.5 billion, more than double its target size. This makes Coller International Partners IV the largest fund ever dedicated to buying investment portfolios and investors positions in private equity funds. The secondaries market is currently experiencing a surge in investor interest thanks to the growing pool of […]
A management team with proven sector experience is the most valuable asset that a start-up company can have, according to the Springboard start-up survey 2002. The survey also reveals successful start-ups generally require less than GBP1 million in funding to get off the ground. Two-thirds of start-ups raised less than GBP1 million of external funding […]
The UK government has passed legislation to make it easier for certain investments by Venture Capital Trusts (VCTs) to retain their qualification for tax relief. The changes, announced in the March 2000 Budget, apply to investee companies that are merged or sold in exchange for shares. John Spooner, director of Quester, which manages five VCTs, […]
UK buyouts are enjoying a surge in value with the strongest quarterly performance recorded since Q2 2001, according to figures form the Centre for Management Buy-out Research (CMBOR). Total deal value reached GBP5.6 billion, almost GBP2 billion higher than the previous quarter. The research, co-sponsored by Deloitte & Touche and Barclays Private Equity, shows renewed […]
Cesky Telecom The debt financing backing the EURO1.82 billion LBO of a 51.1 per cent stake in Cesky Telecom by Deutsche Bank Private Equity and TDC is now unlikely to launch to market until early next year, via mandated arrangers Citibank/SSSB, ING and JP Morgan. This LBO follows an extended bidding competition for Cesky Telecom. […]
3i has appointed Olivier Lesca as director in its European buyout business. He will be responsible for identifying and executing French and cross border buyouts and will split his time between 3i’s London and Paris offices. Lesca was most recently executive director at UBS Warburg where he had worked since 1993 in the M&A department, […]
The acquisition of French electrical equipment maker Legrand by French holding company Wendel Investissement and US equity investment company Kohlberg Kravis Roberts & Co has been given the go-ahead by the Commission, but the fate of the company is still undecided. The LBO arises from the Commission’s October 2001 prohibition of Schneider’s purchase of Legrand. […]
French mezzanine specialist Euromezzanine is well on track with its fourth fund, Euromezzanine 4. Since its launch last May the fund has raised over EURO300 million and a final close on a target of EURO400 million is scheduled for the beginning of 2003. The fund’s two sponsors BNP Paribas and Natexis Banques Populaires are also […]
Gonzalo Jimenez-Blanco has joined Ashurst Morris Crisp from BT Ignite Espana General Counsel. The appointment follows a long period of organic growth for Ashurst’s Spanish practice, following the hire of Jesus Almoguera and his team of lawyers from Arino & Almoguera last October. Jimenez Blanco will work across Ashurst’s international finance and telecoms law practices. […]