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Rumour roundup
The weekend brought the usual wave of price sensitive information being leaked to the markets (assuming its all true, of course). Bloomberg’s report on Resolution’s planned bid for Friends Provident was particularly good, as it actually said the information was confidential:
said the people, who declined to be identified because the bid is confidential. Spokesmen at both companies declined to comment.
The Guardian appears to know exactly what Xstrata’s management are thinking with regard to their proposed merger with Anglo-American — including the very interesting claim that it is to morph into a bid at a nice premium.
The Times reveals some good news: British Airways has won shareholder backing for its rights issue. Given its financial weakness, this has to be positive (unless you are so gloomy that you think BA is likely to be finished anyway).
Today should see some confirmations or denials, in the place of the weekend’s universal “no comments” (translation: the shareholders should know, but we do not want to disturb the boss).
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