Helios Towers IPO Likely to Price at Bottom End of Range

Helios Towers IPO Likely to Price at Bottom End of Range

LAGOS (Capital Markets in Africa) – Helios Towers Ltd. met with a tepid response for a long-delayed share offering that gives investors a foothold in Africa’s fast-growing wireless tower industry. The stock is likely to price at 115 pence apiece before the Tuesday listing, the bottom end of the initial range, bringing proceeds of about $360 million, according to terms seen by Bloomberg. The company was originally looking to raise as much as $500 million. Shareholders…

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Brexit Will Only Speed Up the Decline of Brand Britannia

Brexit Will Only Speed Up the Decline of Brand Britannia

LONDON (Capital Markets in Africa) – The storied names of British industry and commerce haven’t had it easy in the past few years, and they aren’t going to be helped by the divorce from the EU. Once upon a time, Brand Britannia was the poshest of soft powers. Many of the names in its pantheon continue to glow with prestige if not profit, including Rolls-Royce, British Airways, and Burberry. But others have faltered or fallen. Thomas Cook…

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Sophos Becomes Latest U.K. Tech Target in $3.8 Billion Deal

Sophos Becomes Latest U.K. Tech Target in $3.8 Billion Deal

LONDON (Capital Markets in Africa) – Private equity firm Thoma Bravo agreed to buy Sophos Group Plc for $3.8 billion, taking the British cybersecurity firm private in the biggest takeover of a U.K. technology firm this year. Thoma Bravo will pay $7.40 a share in cash, or 583 pence per share, representing a premium of 37.1% to its last closing price, the buyout firm said in a statement Monday. Shares jumped as much as 38% in London on Monday…

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Johnson Stumbles in Bid for Brexit Deal as EU Demands Answers

Johnson Stumbles in Bid for Brexit Deal as EU Demands Answers

LONDON (Capital Markets in Africa) – Boris Johnson’s attempt to secure a Brexit deal ran into trouble after the European Union warned the talks were still a long way from a breakthrough and the British prime minister’s political allies distanced themselves from his plans. The pound fell. After a weekend of intensive negotiations in Brussels, the EU’s chief Brexit negotiator, Michel Barnier, told a meeting of envoys on Sunday that the U.K.’s proposals for breaking the deadlock over…

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Trading Desks Ban Holidays and Bolster Liquidity for Brexit

Trading Desks Ban Holidays and Bolster Liquidity for Brexit

LONDON (Capital Markets in Africa) – It’s the biggest event of the year for the City of London, and firms are taking no chances before the Brexit deadline as they scrap holidays, ensure access to ready cash and prepare to execute contingency planning. For financial institutions, the stakes are high: they don’t want to be on the wrong side of a 10% move in sterling or U.K. stocks. State Street Corp. and Mizuho Bank Ltd….

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U.K. Business Seeks More Carrot, Less Stick From Labour Party

U.K. Business Seeks More Carrot, Less Stick From Labour Party

LONDON (Capital Markets in Africa) – Businesses are trying to persuade the opposition Labour Party to soften its plans to crimp profits, empower workers and take privately-held assets under state control as the U.K. approaches an unpredictable general election. After a string of nationalization pledges, party leader Jeremy Corbyn added another last month when he said a Labour government would set up a publicly-owned company to manufacture generic versions of patented medicines, cutting the profitability of pharmaceutical…

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Amazon Employs People to Watch Cloud Cam Home Security Footage

Amazon Employs People to Watch Cloud Cam Home Security Footage

NEW YORK (Capital Markets in Africa) – In a promotional video, Amazon.com Inc. says its Cloud Cam home security camera provides “everything you need to monitor your home, day or night.” In fact, the artificially intelligent device requires help from a squad of invisible employees. Dozens of Amazon workers based in India and Romania review select clips captured by Cloud Cam, according to five people who have worked on the program or have direct knowledge of it. Those…

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