Swedish buyout firm places faith in public markets 2 Sep 2019 EQT may raise $550 mln in an IPO, soon after rival BC Partners raised a similar amount in a private sale. Both want to grow abroad and in credit and real estate. Yet choppy markets and the difficulty of valuing private equity firms make EQT CEO Christian Sinding’s job harder.
Berlusconi and Bolloré vie for media booby prize 2 Sep 2019 The billionaires are fighting over Italy’s $4 bln Mediaset. Giant egos preclude the friends-turned-foes from joining forces to revive the broadcaster’s dwindling fortunes. While they feud, Amazon and Netflix are capturing the growth in European video consumption.
Capitalist amnesia enables China’s tough line 2 Sep 2019 Violence in Hong Kong has worsened. A Reuters report, meanwhile, says Beijing rejected compromise with protesters. Investors have ignored ugly crackdowns before, including in Xinjiang; such indifference feeds cynical expectations that harsh measures may be forgiven again.
Next step for China’s Pinduoduo is the hard part 2 Sep 2019 The Groupon-meets-Facebook outfit has established itself as a $38 bln nuisance to larger Alibaba. A savvy mix of social networking, group discounts and heavy marketing did the trick. Those can work only so long, though. It will take an impressive second act to be a killer app.