Dec 5, 2014 19:19 UTC

Uber flips the bird at critics with convertible

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By Robert Cyran

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Uber is really flipping the bird at critics with its latest financial deal. The taxi app’s valuation soared to $40 billion in its latest funding round. But a plan to issue securities that convert to stock at a discount to its eventual IPO price shows how firmly Chief Executive Travis Kalanick remains in the driver’s seat. Uber can raise money at a potentially massive premium.

Dec 4, 2014 19:16 UTC

Cramer’s mad money: fair game for fellow blowhard

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By Quentin Webb

The author is a Reuters Breakingviews columnist. The opinions expressed are his own. 

It’s a clash of Wall Street troublemakers: the biggest character in financial TV versus a poison-pen activist investor. The mad money Jim Cramer collects from TheStreet is, however, fair game for his fellow blowhard. Carlo Cannell wants Cramer, a CNBC stockpicker as well as founder of TheStreet, to help spur a sale of the company or take a big pay cut and quit TV.

COMMENT

These clowns are snakeoil salesmen – there is more honesty at a used car lot

Musk [tweet] is another prime example

Posted by jackdanielsesq | Report as abusive
Dec 3, 2014 11:53 UTC

Sinking rouble puts debt squeeze on Russia Inc

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By Pierre Briançon

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Russia does not have an external debt problem. At around 37 percent of GDP – versus 1.5 to three times GDP, say, for developed European economies – it should be easily manageable. For Russian companies and banks, it’s a different story.

COMMENT

Once the economy starts contracting, and prices of food start rising- support for Mr. Putin will slowly fade.

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Dec 1, 2014 15:05 UTC

E.ON’s “bad power” spinoff promises little upside

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By Olaf Storbeck

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

E.ON is coming clean on dirty energy. In a historic move, Germany’s largest utility is exiting conventional generation and bundling unwanted risky assets into a new company to be spun off. The remaining E.ON will concentrate on distribution and green electricity. While both management teams will benefit from focus, this “bad power” spinoff will struggle to offer a tempting investment case.

Nov 28, 2014 12:08 UTC

Market too bearish on European oil services

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By Fiona Maharg-Bravo

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Oil service companies are in a bad place. The sharp drop in oil prices to $72 a barrel has coupled with slowing capital expenditure among oil majors. Petrofac, whose shares have fallen 30 percent in a week, has fared especially badly. Seadrill is another.

COMMENT

The next elephant in the SDRL/NADL boardroom you’re not being told about.
Would NADL/Seadrill’s Assets Be Subject To The Proposed Russian Foreign Assets Seizure Law?

http://fredriksenwatch.blogspot.fr/2014/ 11/would-nadlseadrills-assets-be-subject .html

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Nov 27, 2014 14:22 UTC

SABMiller’s Coca-Cola push is Africa buy signal

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By Robert Cole

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

If there was any doubt about SABMiller’s interest in soft drinks, the brewer’s tie-up with Coca-Cola in Africa should squash them for good. SAB, Coca-Cola and privately held Gutsche Family Investments have agreed to merge bottling assets in southern and eastern Africa into a soft-drinks group with $2.9 billion of annual sales. It is a deal that ticks all the boxes for SAB.

Nov 25, 2014 12:33 UTC

Private equity shows signs of pre-crisis brio

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By Chris Hughes and Olaf Storbeck

The authors are Reuters Breakingviews columnists. The opinions expressed are their own.

Private equity’s hunt of large European targets has landed a rare catch. The 3.75 billion euro ($4.7 billion) leveraged buyout of Switzerland’s SIG Combibloc has demonstrated that financial sponsors can still stretch to get a sizeable transaction agreed.

Nov 24, 2014 19:37 UTC

BT is in strong position for mobile M&A

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By Quentin Webb

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

BT is in a strong position for mobile M&A. It has shaken up UK communications by moving into television and by preparing to launch a novel mobile service of its own. Now the fixed-line giant finds itself with a choice of two wireless networks to buy, Telefonica’s O2 unit or Orange and Deutsche Telekom’s EE. There are few likely counter-bidders for either potential target.

Nov 21, 2014 11:50 UTC

Pru’s lesson for investors: trust animal spirits

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By Chris Hughes

The author is a Reuters Breakingviews columnist.  The opinions expressed are his own.

Shareholders gripe when bosses offer big premiums in takeovers. Such lack of faith in management can prove costly. Prudential’s share price surge to new highs this week worsens the toll borne by rival Aviva for its failed attempt at buying its domestic insurance peer in 2006. The combination would have created a UK national champion and countered Aviva’s strategic weaknesses. It failed largely because Aviva felt it lacked investor support to pay more than a miserly 10 percent premium.

Nov 19, 2014 20:29 UTC

Activist row bigger than Keystone for TransCanada

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By Kevin Allison

The author is a Reuters Breakingviews columnist. The opinions expressed are his own. 

A sparring match with an activist is a bigger deal for TransCanada than the company’s troubled Keystone XL pipeline. The proposed $8 billion conduit of tar-sands oil from Alberta to Texas failed to muster enough votes in the U.S. Senate on Tuesday night. But even if the long-delayed project dies, the lost value could pale next to the extra lucre a New York hedge fund thinks shareholders would reap from a breakup of the $35 billion company.