Quentin's Feed
Jun 9, 2014
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UK spoils Europe’s $29 bln IPO boom

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By Quentin Webb

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

Europe’s IPO boom is being let down by Britain. The regional bonanza of initial public offerings has delivered good returns for shareholders this year. London has been both the epicentre for new issues and a serious drag on performance. With investors’ time and money in short supply, no wonder IPOs are becoming a tougher sell.

Jun 5, 2014
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Reality yet to cut into ASOS valuation

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By Quentin Webb

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

Reality has yet to cut into ASOS’s valuation. A profit warning on June 5 sent shares in the British online fashion retailer down nearly a third. But the company continues to totter on an uncomfortably high earnings multiple. That deserves to come down too.

May 30, 2014

Indian bank recap is painful but necessary

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

By Peter Thal Larsen and Quentin Webb

HONG KONG, May 30 (Reuters Breakingviews) – India’s
state-owned banks need a government bailout. The country’s
wobbly public sector lenders require around $45 billion to put
their balance sheets on a firmer footing, according to a
Breakingviews calculator. That’s a bill the new government can
ill afford. But if it acts fast, it may be able to take
advantage of the post-election euphoria to persuade private
investors to put up some of the cash.

May 19, 2014

A to-do list for India’s new government

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

By Quentin Webb and Andy Mukherjee

LONDON/SINGAPORE, May 19 (Reuters Breakingviews) – India’s
top economic priority is reviving investment and growth.
Following its staggering landslide victory, Narendra Modi’s
Bharatiya Janata Party (BJP) has a mandate for real reform.
Still, quick successes are needed to sustain political and
market momentum. The pro-business former chief minister of
Gujarat state should start with infrastructure, tax, and
banking.

May 15, 2014

Indian market’s election rally has further to go

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

By Quentin Webb

LONDON, May 15 (Reuters Breakingviews) – The election boom
in India’s stock market has further to go. Hopes that opposition
leader Narendra Modi can tackle stagflation, debt and policy
deadlock have already pushed shares to record highs. Yet if
Modi’s BJP seals a decisive victory, equities could keep
rallying. Some investors may be reluctant to pre-empt the
official election outcome. Valuations are full but not crazy.
And foreign funds can probably deploy more cash.

Apr 7, 2014
via Breakingviews

Lafarge-Holcim share jump has gone far enough

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By Quentin Webb and Chris Hughes

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

Lafarge and Holcim’s share rally has gone far enough. The Franco-Swiss duo’s planned 37 billion euro ($50 billion) mega-merger, which would create the world’s biggest cement maker, has already added 3.3 billion euros in combined market capitalisation since the deal leaked on Friday. Cost savings and revenue boosts could in time be worth a lot more. But the market’s caution is justifiable.

Apr 7, 2014
via Breakingviews

Lafarge-Holcim share jump has gone far enough

Photo

By Quentin Webb and Chris Hughes

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

Lafarge and Holcim’s share rally has gone far enough. The Franco-Swiss duo’s planned 37 billion euro ($50 billion) mega-merger, which would create the world’s biggest cement maker, has already added 3.3 billion euros in combined market capitalisation since the deal leaked on Friday. Cost savings and revenue boosts could in time be worth a lot more. But the market’s caution is justifiable.

Apr 7, 2014
via Breakingviews

Lafarge-Holcim share jump has gone far enough

Photo

By Quentin Webb and Chris Hughes

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

Lafarge and Holcim’s share rally has gone far enough. The Franco-Swiss duo’s planned 37 billion euro ($50 billion) mega-merger, which would create the world’s biggest cement maker, has already added 3.3 billion euros in combined market capitalisation since the deal leaked on Friday. Cost savings and revenue boosts could in time be worth a lot more. But the market’s caution is justifiable.

Mar 24, 2014
via Breakingviews

Pricey Nets LBO gives banks big payment to process

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

Private equity has prospered investing in essential modern infrastructure like cable networks. The $3 billion-plus sale of Nets in Denmark shows buyout firms are just as keen to buy into the world’s financial plumbing. Advent International and Bain Capital already own WorldPay, a big payments processor which Royal Bank of Scotland sold as penance for receiving state aid. Now the duo have partnered with Danish pension giant ATP to buy Nets, WorldPay’s Nordic equivalent.

Mar 24, 2014
via Breakingviews

Pricey Nets LBO gives banks big payment to process

Photo

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

Private equity has prospered investing in essential modern infrastructure like cable networks. The $3 billion-plus sale of Nets in Denmark shows buyout firms are just as keen to buy into the world’s financial plumbing. Advent International and Bain Capital already own WorldPay, a big payments processor which Royal Bank of Scotland sold as penance for receiving state aid. Now the duo have partnered with Danish pension giant ATP to buy Nets, WorldPay’s Nordic equivalent.

    • About Quentin

      "Quentin Webb is a Reuters Breakingviews columnist, covering mergers and acquisitions, corporate finance and private equity. He is based in London. Before becoming a columnist, he was a news reporter for Reuters, where he was most recently European M&A correspondent. He has also worked as a correspondent in Brussels and as a credit-markets reporter. He joined Reuters in 2003 from Legalease, a legal publisher. He has a first-class degree in psychology from University College London."
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