Capital Calls: Wise, Swedish oil 30 Nov 2021 Concise views on global finance: The 8 bln pound money-changer raised its revenue targets; $10 bln Swedish oil company Lundin Energy may be considering M&A options.
Capital Calls: Software AG logs onto buyout boom 26 Nov 2021 Concise views on global finance: A subdued valuation and eager bidders increase the 3 billion euro German company’s chances of a possible sale.
Capital Calls: China’s data centre sale 24 Nov 2021 Concise views on global finance: Global Switch is attracting big-name private equity interest, but its quirky setup might justify suitors asking for a discount.
Ericsson makes puzzling $6.2 bln ascent into cloud 22 Nov 2021 That’s how much the Swedish telecom kit maker is paying for web-based communications firm Vonage. With few cost savings on offer CEO Börje Ekholm will take years to generate a decent return. Moving into a fast-growing but ultra-competitive sector highlights his need to diversify.
Capital Calls: Stadium naming, Diageo, Evolution 17 Nov 2021 Concise views on global finance: Crypto.com is paying heavily to rename Staples Center; The drinks maker plans to grow its market share by 50% in the next decade; the $36 bln Swedish gambling firm lost $2 billion of its market capitalisation after accusations of illegal gambling.
Capital Calls: Couch-potato habits help Roblox 9 Nov 2021 Concise views on global finance: The video game app’s shares surged 36% on Tuesday after it said sales nearly doubled in the quarter.
McAfee buyout puts risky spin on cybersecurity 8 Nov 2021 Advent and Permira’s $14 bln buyout of the U.S. software firm could double their money if McAfee keeps motoring as expected and valuations stay elevated a few more years. While former owner TPG has left some juice to suck out, a hefty $9 bln of debt provides an extra-thick straw.
Tech gabfest shows conferences a real-world future 8 Nov 2021 To see how the pandemic has changed the conference business it makes sense to observe the tech-savvy. The 43,000 people who descended on Lisbon for last week’s Web Summit showed face-to-face gatherings have enduring value, even for those making their living in the digital realm.
Capital Calls: Darktrace’s stock wobble 1 Nov 2021 Concise views on global finance: The UK cybersecurity group’s share plunge reflects both short- and longer-term problems.
Swiss bank-tech buyout would hit returns glitch 27 Oct 2021 Private equity firm EQT may bid for $10 bln software group Temenos. The Geneva-based outfit should gain from banks outsourcing more IT to specialists. Yet a deal would need a large chunk of equity, and making the numbers work in an increasingly competitive sector could be tricky.
Capital Calls: McDonald’s, GM, Worldline 27 Oct 2021 Concise views on global finance: The $177 bln fast-food chain boosted sales by making it easier to get burgers and nuggets; supply shortages are exacerbating the carmaker’s heavy investment bill; shares in the French payments group tumbled despite ambitious growth targets.
Russian IPO salad hides some dodgy ingredients 18 Oct 2021 Helped by a global boom, new listings by the country’s companies are at their most active since 2007. Investors are more used to sanctions risk, while Covid-19 has spruced up hopefuls such as real estate website Cian. Others, like St Petersburg’s bourse, may be lumpy leftovers.
Capital Calls: Real estate distress is tricky call 15 Oct 2021 Concise views on global finance: Barry Sternlicht’s Starwood Capital has raised a $10 bln fund to buy struggling buildings. With the pandemic's long-term effects unclear, the key will be avoiding those destined to remain empty.
Chancellor: Bring surveillance capitalism to heel 15 Oct 2021 Traditional capitalism aims for perfect competition in which many firms vie to deliver goods and services to customers. Social media is dominated by impregnable monopolies that enjoy vast economies of scale and scope. Facebook’s latest scandals provide grounds for genuine reform.
Capital Calls: U.S. inflation, French cloud outage 13 Oct 2021 Concise views on global finance: U.S. consumer prices rose 5.4% in September as the White House weighs the Federal Reserve chief’s re-nomination; OVHCloud’s network went down the day before the cloud-computing group is due to price a 3.6 bln euro Paris listing.
Big Tech’s cash kings will resist rate-hike storm 12 Oct 2021 Rising U.S. Treasury yields reduce the value of future free cash flow, hurting fast-growing technology stocks. Apple, Facebook and Alphabet are minting money in the here and now. It’s investors in cash-challenged companies like Netflix and Tesla that will feel the most pain.
Emerson bets on improbable software upgrade 11 Oct 2021 Its $11 bln deal with AspenTech would leave the U.S conglomerate with greater exposure to fast-growing business software. But unless shareholders give the new company a much richer valuation, Emerson is getting out less than it’s putting in.
Capital Calls: Pet retail scrap, Chubb, Czech IPO 8 Oct 2021 Concise views on global finance: Buyout firm Hellman & Friedman matches EQT’s 3.4 bln euro bid for Germany’s Zooplus, putting the onus on its rival; the U.S. insurer buys the Asian assets of Cigna for $5.8 bln; haulage-fleet manager Eurowag makes a chaotic market debut.
French cloud IPO is a bet on EU tech sovereignty 5 Oct 2021 OVHcloud is listing in Paris for up to 3.7 bln euros. Slow growth and the tight grip of founder Octave Klaba justify the IT group’s low valuation. But sales could surge if European businesses and governments push to keep data at home rather than with Amazon, Google or Microsoft.
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.