What’s up with the Financial Times? 1 Mar 2004 Losses at the paper have deepened and Pearson isn't counting on a return to profit this year. Other divisions will have a tricky 2004 too. The good news is that 2005 looks a lot better. But there isn't much case for piling into the stock yet.
Interbrew in talks with Ambev 1 Mar 2004 Given the paucity of hard synergies, Interbrew shareholders must hope that the Belgian brewer doesn't offer a premium price for Ambev. The Belgian and Brazilian brewing giants are seemingly heading toward a mix of a takeover and a $23bn merger.
Eni’s dividend cover looks tight 1 Mar 2004 The Italian energy group says dividend sustainability is not a problem, as capex is set to fall. But such promises have to be taken with a pinch of salt, especially as the Kashagan oil field will cost the group billions to develop.
AmBev deal shines spotlight on Anheuser 1 Mar 2004 The prevailing wisdom in the beer industry has been that Anheuser sat out the recent M&A frenzy waiting for AmBev to come up for grabs. Could it be that AmBev s owners are trying flush out an offer from the US giant? After all, they're investment bankers.
BG shares hit a gusher on bid talk 1 Mar 2004 The share price of the midsized British oil group has risen by 17% since midFebruary. Total and Shell are rumoured to be sniffing around. A deal by either could make industrial sense. But the price may be prohibitive. BG s lofty valuation has seen off similar bid talk before.