Tuesday, 8 March 2016
Some Burberry clues...
Hat tip to the Financial Times. The newspaper broke a great story yesterday evening about Burberry hiring Robey Warshaw to defend the company after a mystery investor built up a stake in the clothing brand via HSBC.
Here is the link:
It would, though, be an even juicier story if the market could be informed about which entity is behind the 5pc Burberry stake held by HSBC.
Some news reports have focussed on rival trade buyers whilst the FT suggested the mystery stake builder could be a private equity firm.
I'm not going to claim to know who the stakebuilder is - but if you look back over the last few years you will see HSBC secretly built up a stake in IAG, owner of British Airways, for the Qataris in a somewhat controversial manner. Here is the link:
The mega bank has also recently been acting in an advisory in M&A advisory capacity for Chinese outfits, such has ChinaChem, and South African retailers, including Steinhoff.
So, perhaps it might be worthwhile digging in those geographic patches...