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Shell Company Floats To Buy Struggling Media Brands

A shell company that plans to snap up a string of trusted but struggling media brands for up to £1bn each has made its debut on the Alternative Investment Market with backing from major institution. Gloo Networks is the latest venture by the investment group Marwyn and has raised an initial pot of £30m to carry out due diligence on its targets. The shares will open at 120p on Tuesday. As well as Marwyn, the major shareholders on the first day of trading include Invesco, the hedge fund Ruffer, and Standard Life.

Read the whole story at The Telegraph »

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