Quentin Webb is a Reuters Breakingviews columnist, covering mergers and acquisitions, corporate finance and private equity. He is based in London. Before becoming a columnist, he was a news reporter for Reuters, where he was most recently European M&A correspondent. He has also worked as a correspondent in Brussels and as a credit-markets reporter. He joined Reuters in 2003 from Legalease, a legal publisher. He has a first-class degree in psychology from University College London. Follow Quentin on Twitter @qtwebb
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Surprisingly good news on profit margins lifted the telecoms equipment firm’s shares. The stock is volatile and still down sharply this year. But Alcatel looks to be coping with a U.S. spending slowdown better than some rivals. Its sweeping restructuring remains on track.
Patrick Drahi’s Numericable has launched a 4.7 bln euro rights issue to help fund the takeover of French telecoms rival SFR. The harder work will come once the cash is in. Numericable has to find 10 bln euros in promised synergies and cope with stiffer competition from Bouygues.
The German exchange lacks the punch of the industry’s biggest players. Incoming boss Carsten Kengeter, an ex-banker like LSE chief Xavier Rolet, could ape his London rival. That would mean a bigger push into growth areas like clearing or indexes, using M&A if necessary.
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- Nutreco’s $3 bln buyout shows value of food chain
- Megadeals like AbbVie/Shire invite arbitragedy
- Excitement over Iliad's homecoming looks premature
- Iliad bid for T-Mobile US was a deal too far
- European IPO wobble is about more than volatility
- Portugal Telecom's a stretch for French cable king