Dynamic pricing in pubs is not new, Happy Hour, 2-for-1 offers and half-price drinks are all aspects of price-led differentiation. Charging more at busy
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Trevor Masters has resigned out of the blue and with immediate effect. We know of no reason for the move yet and stunned as we are by the rocky move, we are
Read MoreThe regional court of Berlin rejected a motion by the “Association for the Protection of Investors” SDK, which had requested a special audit of
Read MoreToday's long article in the FT about the pricing woes for chicken UK producers doesn’t have much new news. However, it does illustrate that
Read MoreThe transaction would reduce leverage at Morrison if approved. This £2.5bn (EV basis) fuel forecourt deal is the opposite of the EG/ASDA deal. CD&R-owned Motor
Read MoreBoris Derichebourg was already the COO of Elior France, so his appointment as the Chair and CEO of the French business is not surprising. Our modelling shows
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Please find our updated analysis of Adler here.
In between restructurings, the game is all about the speed with which Adler can sell assets to pay down the New Money - from April, after the make-whole. We do fear some value leakage from left-pocket / right-pocket transactions where New Money creditors stand
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Aldi has increased its long-term target to 1,500 stores, up from an earlier goal of opening 1,200 by 2025. This is on the back of a surge in demand in
Read MoreFurther press reports confirm the general market view. Heimstaden Bostad requires new equity, this time confirmed by the 2nd largest
Read MoreDetails are still emerging from Drahi’s meeting with investors in London yesterday (Altice management continue their non-deal roadshow in New York today). Nothing
Read MoreMonths after Casino failed to pay its coupon in July, it appears that the CDS has been triggered, and in time for the September contract
Read MoreThe acquisition of UPP does not change the risk profile of Virgin Media O2 (VMED). The purchase price is modest in the context of
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- DELAYED - Accounts this morning (Aug 31st) confirmed that the Wyoming contract has been extended and otherwise operations have been stable.
Read MoreSky News reported yesterday that Altice are in discussions with Tremor (UK AIM listed - £250m market cap) about a potential combination. Tremor reduced its
Read MoreThere are several articles in Dagens Industri, a Swedish financial newspaper, referring to the issues at Heimstaden Bostad and its 2nd
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Phoenix Tower International announced at the end of August the acquisition of 1,226 towers from SFR and 752 towers from Bouygues, expanding their
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Please find our updated analysis here.
United Group (UG) has used the proceeds from its tower sale to reduce leverage and to push its maturities out. The €570m Nov-25 PIYC SUNs will be refinanced by November 2024. Exactly when and how the refinance will take place is not clear yet. Operationally, Q2 was a strong quarter, with UG able to get ARPU increases whilst gaining RGUs in most of its markets.
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