Article Abstract:
Richard Branson is selling a stake of 49% in Virgin Atlantic, and will use the net proceeds of the sale to deal with the problems of Our Price. Branson took over Our Price in 1998 and also took on bank debt of 115 million pounds sterling. Other companies with problems include V2 Music and Virgin Cola. Meanwhile, Branson aims to invest in internet ventures, and is considering selling mobile phones and other high-tech products through Our Price outlets.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
Private-equity funds in the US had attracted almost USDlr190 bil by 2000, but the performance of many of the investments has been poor. It is thought that USDlr20 bil of private-equity investments could now be up for sale. Much of the investment went into new technology firms.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
Singapore Airlines has acquired a stake of 49% in Virgin Atlantic, which has seen pressure on its profits due to price competition in the market for transatlantic flights. Richard Branson argues that he will relinquish control of Virgin Atlantic, though he has previously sold businesses. He plans to invest in internet and telecoms activities. He argues that capital gains rather than profits are his goal. His aim to develop Virgin.com as one of the biggest three portals world wide may be too ambitious.
User Contributions:
Comment about this article or add new information about this topic: