Central Europe is monetary policy’s control test 8 Nov 2021 The Czech, Polish and Hungarian central banks are hiking interest rates, the traditional riposte to rising inflation. In contrast, peers in major economies are responding less aggressively to price pressures. That makes for an interesting experiment.
Trucker shortage turbocharges haulage payments IPO 28 Sep 2021 Eurowag has built a lucrative business planning routes and handling payments for haulage firms. A dearth of drivers makes it more important to minimise empty trucks. Even a top-gear 1.7 bln euro valuation leaves mileage for investors in the Czech company’s upcoming London float.
Czech billionaire’s supermarket raid looks pricey 14 Apr 2021 Daniel Kretinsky doubled his stake in British grocer J Sainsbury to 10%, prompting talk of a takeover. The $7.5 bln chain has thrived during the pandemic, but a reopening economy will mean more competition and higher costs. A buyout would yield mediocre returns.
Daniel Kretinsky’s grocer grab has sliver of sense 1 Oct 2020 The Czech billionaire has bought $1.5 bln worth of shares in European supermarkets like J Sainsbury and Casino. Anaemic growth and low margins suggest that’s unwise. But if his targets can slash costs and take advantage of an online boom, his bet may begin to look shrewd.
Czech lender’s Hong Kong IPO braves Bud hangover 16 Jul 2019 Home Credit’s float may value it at over 10 billion euros. The lender offers rapid growth and a focus on the Chinese consumer. But after AB InBev’s fail, the mooted valuation could be seen as toppy given both pluses could yet turn into minuses.
Vodafone’s $22 bln deal is worth financial strain 9 May 2018 The UK mobile group is buying Liberty Global’s German and eastern European assets. Boss Vittorio Colao is funding the deal with debt and funky convertible bonds. He can point to juicy cost savings to quell any concerns about Vodafone’s creaky balance sheet.
Activist tests Lagardere disdain for shareholders 2 May 2018 Amber Capital is pushing for new board members at the $3.7 bln French group. That’s largely symbolic since a funky structure gives boss Arnaud Lagardere control. But the pressure is useful at a time when the unwieldy company is thinking of selling its peripheral media businesses.
China’s new energy star brandishes licence to deal 23 Nov 2017 Even as outbound M&A slows, privately held CEFC emerged from nowhere with bids for stakes in Russia's Rosneft, Czech banks and a U.S. brokerage. Now it's eyeing Time Warner's European TV broadcaster. This enigmatic buyer may stoke paranoia about Beijing's investment intentions.
Where to put Europe’s bank regulator? Try Bulgaria 26 May 2017 Brussels has invited member states to bid to host the European Banking Authority when its current host, Britain, quits the EU. The EBA hasn’t exactly dazzled in its handling of bank stress tests. But it could be a decent trophy for a non-euro country that feels unloved by the bloc.
Czech currency cap will go way of the Swiss 11 Jan 2017 A peg tethering the crown to the euro has served its purpose by fending off deflation and nurturing growth. It's now becoming a magnet for speculative flows. As Switzerland showed policymakers two years ago, it's best to ditch doomed currency caps sooner than later.
Heineken’s UK pub binge not as retro as it looks 14 Dec 2016 The Dutch group has offered 390 mln pounds for Punch Taverns in a bid to triple its holdings of British drinking houses. Though most brewers got out of the business long ago, pubs are a petri dish to try out new products. A rival bidder may force Heineken to pay more, though.
A decade on, some EU values still look strong 2 May 2014 Eight of the 10 countries which joined the union on May 1, 2004 were former communist states. Since then both old and new members have gained, economically and culturally. The EU has proved remarkably strong. But its financial and political values look far less robust.