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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Thor Bjorgolfsson embodies Iceland’s volcanic rise and fall. He made a fortune in post-Soviet Europe, lost a bank in 2008 and caused Deutsche Bank years of grief with Actavis. This deal junkie’s memoir is self-critical in parts - but unlikely to win many new friends in Reykjavik.
The telco is nearing a 12.5 bln stg purchase of EE from Orange and Deutsche Telekom. That’s a surprisingly high 7.9 times EBITDA. Still, cost savings will help. And if BT wants to be big in mobile, buying the biggest UK network with the best mobile broadband offering makes sense.
The private equity firm has come out on top in an $8.7 bln auction of the biggest U.S. pet-store chain. It’s 2014’s largest buyout. But paying 9.1 times trailing EBITDA looks loose. And while plenty of banks are offering financing, the debt levels could make regulators bristle.
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- Debt powers Altice into European TMT's big league
- If Vodafone wants Liberty it has to get creative
- Black Friday will leave many stores feeling blue