Speculators Board P&O on Talk of Bid from Singapore; Market Report

The Evening Standard (London, England), May 20, 2005 | Go to article overview

Speculators Board P&O on Talk of Bid from Singapore; Market Report


Byline: MICKEY CLARK

CITY speculators were building up a full head of steam yesterday as they set course for shares of P&O, one of the best performers among second-line companies.

The shares climbed almost 8% as more than 22 million changed hands on talk that a bid may be on the horizon. Word is that Singapore government investment arm Temasek may be building up a sizeable holding in the international ports and UK ferries operator.

P&O never comments on market speculation but brokers pointed out that Temasek would have to put out an announcement if it held more than 3% of the shares.

The speculators say the latest flurry of activity has been sparked by the [pounds sterling]2.3 billion takeover of Royal P&O Nedlloyd, in which P&O has a 15% stake, by Denmark's Moeller-Maersk. Broker UBS reckons Temasek is contemplating a strike on P&O to block a similar move by Maersk. It argues that P&O Nedlloyd is a big customer of the Port of Singapore and may choose to re-route its ships through ports operated by Maersk.

But brokers say it is unlikely Maersk would be interested in P&O's ports operation. The speculation also coincides with the departure of Lord Sterling as chairman of P&O. If Temasek did buy P&O, it would create the largest ports operator in the world.

Elsewhere, investors were cheered by a clutch of big-name companies announcing bumper profits. BT's full-year figures were at the top end of analysts' expectations, with the promise of more cash for shareholders.

Pubs chain Mitchells & Butlers posted bumper earnings and a strong like-for-like sales increase.

Shareholders in Mothercare also had reason to celebrate, with a dividend total doubled to 8p. The retailer is two years into its threeyear recovery programme and chief executive Ben Gordon remains confident about prospects for the year ahead despite the general spending squeeze. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Speculators Board P&O on Talk of Bid from Singapore; Market Report
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.