Saturday, 25 June 2016

Is the tide turning for Odey the Brexiteer? - part 2

It looks like my story from yesterday was bang on the money.

Indeed, just a few hours after I published yesterday morning charming Crispin got on the front foot to go on the record about his recent strong performance in June and also from the result of the referendum.

In case you missed it, here are links to yesterday's follow up pieces:

http://www.bloomberg.com/news/articles/2016-06-24/-brave-brexit-decision-reflects-disaffection-says-crispin-odey-iptisg51

http://www.thetimes.co.uk/article/george-soros-among-the-big-winners-25wt7wfnj

So, I calculate that Odey might now be up by about 25pc given Bloomberg reported Odey's flagship European fund made 15pc out of the huge markets moves on Friday and the fund, according to my intelligence, was up 10pc in the run to the Brexit referendum.

Still, I'm not sure that recovers all of Odey's losses from over the last year. But, it's a good start!

Thursday, 23 June 2016

Is the tide turning for Odey the Brexiteer?

Crispin Odey's flagship European fund has had a tough time in the last year or so after the charismatic fund manager made some pretty bold and contrarian bear calls that haven't quite worked out.

However, yesterday rival hedgies told me the Odey European fund was actually up around 10pc in June 2016 (the final monthly performance won't be published for another couple of weeks).

Wednesday, 22 June 2016

Cough up or sell up

Market participants are going to have to stick their hands in their pockets to keep trading companies, indices and currencies over the next few days.

That's because brokers and spread betting firms have begun demanding traders and hedge funds put up more "margin" to cover existing positions during the conclusion of the Bexit referendum, according to well-places sources.

Tuesday, 21 June 2016

Betaville hits 20 million!

Little old Betaville has hit another milestone - today it reached a total of 20 million page impressions from readers.

It's been great fun breaking stories and cracking jokes. But it's now time to think about taking Betaville to the next level.

Monday, 20 June 2016

That meeting - part 3

Regular readers will remember my piece from a couple of weeks ago about The Times follow up to my original story from last year about who attended a British Bankers Association board meeting on April 2016, 2008 and what was discussed. In case you don't, here are the links:

http://betaville123.blogspot.co.uk/2015/04/that-meeting.html

Friday, 17 June 2016

Sanofi said to weigh alternative deals to Medivation; eyes BioMarin Pharmaceutical - sources

French pharmaceutical giant Sanofi is working on a back up plan in case it fails to win its $9.3 billion hostile pursuit of US-listed Medivation.

Top sources have told me the French pharmaceutical giant has begun looking at US-based rare disease specialist BioMarin Pharmaceutical as a potential alternative takeover deal after growing frustrated in its pursuit of Medivation, which has so far resisted the French company's advances.

Wednesday, 15 June 2016

Goldman Sachs tips Sky, Cairn Energy and Zealand Pharma as takeover candidates

I never quite know what to make of a equity research teams' M&A predictions.

Why? Well, investment bank's equity research teams are supposed to have "Chinese walls" but you would have thought it's unlikely a top investment bank would actually let its own equity research analysts predict a deal that its M&A advisory bankers are actually working on.

Portuguese consortium said to still be working on BHS despite closure - part 3

Most of my peers and rivals are down in Westminster live tweeting Sir Philip Green's interview (wind up) by MPs.

But I thought I would take this opportunity to set the record straight. After this morning's post I had a call from a representative of the Soares do Santos family in Portugal, claiming the family is not backing Greg Tufnell's consortium in its attempt to buy BHS. 

Tuesday, 14 June 2016

Portuguese consortium said to still be working on BHS despite closure - part 2

It would appear Mike Ashley isn't the only bidder still trying to get hold of BHS - or parts of it, at least.

Well-placed sources have told me the Portuguese consortium, led by Greg Tufnell (Phil Tufnell's brother) and backed by the dos Santos family, was also contacted by administrators on Sunday about whether it would still be interested in buying BHS.

Sunday, 12 June 2016

Thursday, 9 June 2016

Chinese said to be in talks with Wirecard about purchasing a 25pc stake; could make move on the whole company - sources - part 2

Wow - I thought yesterday's piece might ruffle a few feathers but I never expected the torrent of angry banter I received throughout the afternoon.

It sort of reminds me of last year's shenanigans when I broke a series of stories about Slater & Gordon interest in purchasing the majority of Quindell. For several months I was on the receiving end of serious abuse, scepticism and denials (from Slater & Gordon itself) but stuck to my guns. And what happened: Slater & Gordon eventually bought Quindell's professional services division for just under £640 million. Here is a link to my final piece in that series:

Wednesday, 8 June 2016

Chinese said to be in talks with Wirecard about purchasing a 25pc stake; could make move on the whole company - sources

A mystery Chinese company is in talks with German payment processor outfit Wirecard about a deal to buy a significant stake in the business or even purchase the group outright.

According to well-placed sources, a Chinese telecoms company has been talking to Wirecard, whose current market capitalisation stands at EURO 4.7 billion, for quite some time about a partnership and a potential deal.

Nutmegged on SOBI - part 2

There has been quite a bit of noise around Swedish rare disease specialist SOBI over the last couple of days.

Well, I wouldn't get too carried away. I'm told there is supposed to be an important meeting in the next 24 / 48 hours where a decision will be made on the "situation".

Monday, 6 June 2016

Retail titbits - part 4

Oh look - I see another one of little old Betaville's stories has been confirmed this morning with the announcement that Radley has been sold to Bregal Freshstream, a new (ish) private equity firm.

In case you don't recall, little old Betaville was the first global media outlet to "exclusively reveal" that Bregal Freshstream, which is backed by a wealthy Dutch family, was participating in the Radley auction.

Thursday, 2 June 2016

Portuguese consortium said to still be working on BHS despite closure

I'm very sad to read the reports about administrators to BHS failing to secure a rescue deal for the beleaguered store group.

However, I have one well-placed source that says the consortium led by Greg Tufnell, brother of former England cricketeer Phil Tufnell, is still working a plan to buy the chain despite reports administrators are planning to appoint Hilco to liquidate the company's assets.

Wednesday, 1 June 2016

That meeting - part 2

Today's business splash in The Times is rather intriguing.

Harry Wilson - City editor at The Times and a former colleague from time at The Daily Telegraph - reveals that Eric Daniels, former chief executive of Lloyds Banking Group, was told about Libor rigging at a BBA meeting in 2008.

Tuesday, 31 May 2016

Back on Tip TV talking about Royal Mail, Pacific Biosciences and Actelion

Loyal readers might have been worried that Tip TV had given me the chop after several weeks without a clip being re-published on little old Betaville.

But fear not - I haven't been on the show because Tip TV have been moving studios. And today my old mucker Moose (aka Nick Batsford) invited me back for a sit down with man-about-town Zak Mir.

RARE Alert: Israeli property giant said to be weighing outright purchase of Atrium European Real Estate Limited - part 2

I have a little update on that piece of RARE on Atrium European Real Estate I stumbled across last week.

In case you don't remember, within the story I wrote last week I noted that eastern European shopping mall operator Atrium was looking at other options should the Gazit Globe deal fall over.

Monday, 30 May 2016

Bank holiday review

Working at a British national newspaper over a bank holiday weekend can be particularly torturous. That's because, typically, there aren't many cracking business stories to be followed over a 72 hour period in which British markets have shut down.

However, this bank holiday weekend has been turned on its head. Hacks over the Financial Times landed an absolute corker yesterday about the Rothschild Investment Trust trying to merge with the Alliance Trust as part of a deal to create a £5 billion investment giant. Hat tip to the trio of intrepid journos by-lined on that tale. Here is the link:

Thursday, 26 May 2016

When "old" becomes new news - part 2

Old deal stories that haven't made into the public domain yet are clearly becoming super fashionable in the mainstream business press.

Today the venerable Financial Times ran a piece about how a mid-level executive at Apple floated the idea of purchasing Time Warner in a meeting with another mid-level executive. Here is the link to the FT piece: