Business Services Industry
Branson is told to cut his share price for Virgin Mobile.
Knight Ridder/Tribune Business News, July, 2004
By James Ashton, Daily Mail, London Knight Ridder/Tribune Business News
Jul. 20--Sir Richard Branson must be wondering why he bothered.
His return to the London stock market is becoming a rough ride after City institutions forced him to slash by one-fifth the price of shares being sold in Virgin Mobile.
The bearded entrepreneur is taking a severe haircut. The price range was reduced to 200p-220p from 235p-285p in an emergency conference call with banking advisers.
"Rather than tough it out, we were advised to cut it," Virgin Mobile said.
Defiant noises from the camp earlier suggested it would rather stay private than cut its price.
It means VM could be valued at just UKpound 500m when it is priced tonight,...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
