Karen joined Breakingviews in 2018. She previously worked as an European gas and power reporter at S&P Global Platts in London, and covered funds, stocks and economy at Morningstar UK. Karen also briefly worked at the Press Association, China Daily Europe and Bloomberg. She graduated from the University of Sheffield in 2015 with a degree in Journalism Studies, and did an Erasmus exchange programme in Barcelona, Spain. Born and raised in Hong Kong, she is fluent in both Mandarin and Cantonese.
Intu, the struggling landlord of retailers like Zara and Primark, is looking to raise equity to fix its $6.1 bln debt. Doing so would underpin the UK’s post-election property and stock market gains. But given the scale of what Intu needs, it may instead expose their fragility.
Companies offering the credit innovation say it can drive online sales and help retailers deal with refunds. One player, Klarna, is valued at $5.5 bln. But making it a lot easier to shop for free could prompt a reaction like that which befell the vaping heavyweight.
Internet investor Prosus sweetened its cash bid for the UK food delivery company to $6.5 bln. That’s tastier than rival Takeaway.com’s all-share proposal, but still well below Just Eat’s market value. Shareholders are expecting a few more helpings before the end of the year.