Business Services Industry
Branson says Virgin Mobile float is ready to go.
Knight Ridder/Tribune Business News, July, 2004
By Brett Arends, Daily Mail, London Knight Ridder/Tribune Business News
Jul. 19--Sir Richard Branson insists that this week's UKpound 1 billion Virgin Mobile float, which should leave him pocketing at least UKpound 400m in cash, is still going ahead.
"The roadshow is going well and there are no plans to change the float process," says a spokesman. This follows weekend speculation that Branson might walk away amid soft demand.
In private there is growing speculation that the hirsute entrepreneur will have to take a very expensive haircut and shave to get the issue away.
How expensive? Nearly UKpound 100m. Branson was hoping to float 43 percent of the shares at 285p. In the worst case scenario he may only sell 37 percent at...
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