Air India fix would give Modi reform miles 21 Jul 2017 The carrier is a travelling advertisement for India's inefficiencies. It has made losses for nine years and turnaround efforts have failed. A sale may push a multi-billion dollar writedown on lenders, but would validate Prime Minister Modi's reform credentials.
Stars align for Vietnam’s privatisation push 20 Mar 2017 Hanoi's desire to tame the budget deficit and boost efficiency bodes well for the sale of state assets, including big brewers. A buoyant stock market helps. But in the rush to secure fat listing valuations, Vietnam risks driving away the foreign buyers it needs.
Alibaba’s new brick-and-mortar bet looks pricey 10 Jan 2017 The Chinese e-commerce giant thinks it can save physical retail. It's offering to take Intime, a struggling operator of mainland malls and department stores, private for $2.6 bln. This is a pricey experiment trying to solve China's traditional shopping woes with tech.
Aussie privatisation push makes for buyer’s market 8 Sep 2014 State governments are being encouraged to sell off infrastructure assets. The estimated value of the pipeline is equal to almost three-quarters of the total M&A activity in the country over the past two years. A lack of coordination could leave laggards with lousy valuations.
Fincantieri slide augurs ill for Italian selloffs 7 Jul 2014 The shipbuilder’s shares are below last week’s float price. Given the sizeable retail support for the offering, that is unhelpful for other potential stock market issues. That includes family firms and the state’s privatisation plan. The new government needs more market savvy.
Privatisations a bright spot for gloomy Aussie M&A 13 Feb 2014 Australia is set for a bumper year of asset sales as cash-constrained local governments flog existing infrastructure to fund new projects. Federal disposals may further boost volumes. That’s a welcome diversion for investment bankers facing another slow year for deals Down Under.
NYC plan needs Financier Bloomberg not Mayor Mike 18 Jun 2012 Privatizing 90,000 parking spaces could raise billions to head off looming budget deficits. But as Chicago showed, such deals can sacrifice long-term revenue for short-term relief. Political expediency should take a backseat in the Big Apple. A joint venture would work better.
India should hold its nerve on stock auctions 2 Mar 2012 New initiatives don’t always succeed first time. The Indian government’s auction of shares in ONGC, the oil and gas group, could have flopped had it not been for last-minute intervention. But as long as Delhi learns, auctions can still play a valuable role in privatisations.
India’s auction tack bodes well for privatisation 29 Feb 2012 Questions remain about retail participation and whether New Delhi is genuinely convinced by the merits of privatisation. But the sale of shares in the state-controlled oil and gas company by auction is a new departure in India that promises to be effective and efficient.