CITY WHISPERS: Spin doctor suffers from premature information on Vodafone and Three agreement


The Competition and Markets Authority (CMA) finally decided on Friday to open its investigation into the proposed merger between Vodafone and Three, a move many saw as inevitable.

But a PR representative for consultant Teneo was perhaps a little too eager to break the news, sending the companies’ response to the CMA’s decision a day before it was even announced, followed by an e -very hasty reminder email which, ironically, served to draw more attention to the snafu.

As if that wasn’t newsworthy enough, an industry source told Whispers that those in the room when Three and Vodafone found out about the premature statement experienced what they diplomatically called a ” absolute shit show.”

When the CMA announced its investigation, the companies’ response was sent again, this time through another Teneo employee. Vodafone also saw fit to forward the missive via another PR company. A warning call, perhaps?

The CMA opened its investigation into the merger between Vodafone and Three on Friday.

The CMA opened its investigation into the merger between Vodafone and Three on Friday.

Full steam ahead for shipbuilder Cammell Laird

Remember “Boaty McBoatface”? This is a popular name for the polar research vessel built by Cammell Laird after the unwise decision to submit it to an online survey.

Now things are looking up for the Birkenhead-based shipbuilder after reporting a profit of £3.7m for the year to April 1, 2023, after losing £4.5m the previous year, according to recently filed accounts.

Maybe Cammell could spice up his own name. ProfitMcProfitface?

Grainger faces investor criticism

Residential landlord Grainger will be one of the first listed companies to face investor scrutiny this year at its annual meeting next month.

The company may want to end the bashing sooner, given that it already has a fight on its hands.

In a newsletter published last week, shareholder adviser Pirc called on investors to vote against the group’s executive pay, saying the rewards given to Grainger directors were “excessive”.

He added that the salary ratio between the boss and the average employee was “not considered appropriate”.

The consultancy also disputed Grainger’s plan to issue shares to raise cash for investment, arguing it was not linked to a specific deal.

Well, which of us has not had a reproach for our owner?

QCM welcomes dismissal of defamation lawsuit

Short sellers are often vilified in financial markets, with many accusing them of preying on crisis and bad luck to rake in money from bets on falling stock prices.

But many observers fail to consider the legal risks taken by short sellers when criticizing a company’s business model. So if they win, they like to brag about it.

One such feud played out in New York courts last week when Quintessential Capital Management, the hedge fund that rose to prominence last year by targeting British cybersecurity darling Darktrace, scored a victory when a defamation lawsuit against him by the American pharmaceutical company Cassava Sciences was filed. thrown away.

“To you seekers of truth, continue to illuminate the darkness! » declared MCQ humbly.


Source link

Scroll to Top