Scout24 is already arming itself for the sale with the help of consultants and investment bankers, writes the British business newspaper. It was only in July that Scout24 strengthened itself with the installment loan broker Finanzcheck.de and paid 285 million euros for it.
With a low of around 13 euros, the shares cost less this year than they have for decades. Commerzbank titles also lost seven percent on Thursday. The bank indices of the Stoxx50 and EuroStoxx50 fell by 6.6 and 7.1 percent, significantly stronger than the shares of Deutsche Bank and the Swiss Credit Suisse with currently around 40 percent each, so far only the securities of a few Italian banks such as the crisis bank Monte Paschi crashed – by around 60 percent since the beginning of the year. In the financial markets, the risk of massive loan defaults is now being played out, said a trader.
This caused strong premiums on the market for credit default insurance – so-called CDS (Credit Default Swaps). The protection of a ten million euro package of subordinated liabilities of European banks against payment default increased to 317,150 from 285,750 euros. Deutsche Bank’s CDS rose to 261,429 euros from 228,212 euros on Wednesday. They were more than twice as expensive as in mid-January. Source: ntv.de, Andrea Lentz, rts “The online marketplace operator Scout24 increased sales and profits in the past fiscal year.
The acquisition of the finance portal Finanzcheck also made a significant contribution to growth, as the company listed in the MDax announced. According to preliminary figures, consolidated sales rose by 12.5 percent in 2018 compared to the previous year to 531.7 million euros. According to the company, the purchase of Finanzcheck is included in this amount with 12.3 million euros. Above all, the in-house real estate portal Immobilienscout24 has also increased, it said.
Operating earnings before interest, taxes, depreciation and amortization (Ebitda) rose by 15.3 percent to 291.5 million euros. Scout24 plans to present the final figures on March 25th. (dpa) Source: ntv.de “After the start of trading, the Scout24 share went up slightly. The share listed in the MDax rose by 0.1 percent. The operator of online marketplaces also wants sales in the current year Further growth – 15 to 17 percent are planned .. However, the operating profit margin is expected to decrease somewhat due to further investments.
With the final figures, the company confirmed the preliminary results published in February. Source: ntv.de “Scout24 has already passed through several hands. (Photo: picture alliance / dpa) You can find apartments via ImmobilienScout24 and a new car via AutoScout24. The German one Internet companies are worth a lot of money. A few years after the IPO, investors are said to have set their sights on it.best custom biology essay writing service According to a report in the Financial Times, the online advertising exchange Scout24 may be facing a takeover by financial investors. Three years after the IPO, several investment companies are keeping an eye on it Thrown the Munich operator of the portals “ImmobilienScout24” and “AutoScout24”, it said in the report, citing people familiar with the situation, including US investor Silver Lake, who specializes in technology companies and will not open until May British Internet property marketplace Zoopla swallowed for £ 2.2 billion Scout24 is worth almost 3.9 billion euros on the stock exchange.
According to the report, a buyer would have to put more than 5 billion euros on the table, including the assumption of liabilities. Scout24 is already arming itself for the sale with the help of consultants and investment bankers, writes the British business newspaper. It was only in July that Scout24 strengthened itself with the installment loan broker Finanzcheck.de and paid 285 million euros for it. A little later, CEO Greg Ellis announced his early departure.
At the turn of the year he will be replaced by Tobias Hartmann, who comes from the food mail order company Hellofresh and is supposed to drive internationalization. Scout24 has already passed through several hands. Deutsche Telekom, which joined the company in 2004, sold a majority stake of 70 percent in 2013 to financial investor Hellman for 1.5 billion euros Friedman. This brought Scout24 two years later to the stock exchange and gradually parted ways with its stake at a profit. The last shares were sold in February. Source: ntv.de, ame / rts “The shares of Scout24 go against the trend by eleven percent to 46.06 euros.
Financial investors Blackstone and Hellman Friedman are planning a multi-billion dollar takeover of the online classifieds portal Scout24. The joint investment vehicle Powder BidCo wants to offer shareholders 46 euros per share, the parties said, which corresponds to a premium of 24.4 percent on the average price of the past three months. This puts the equity value of Scout24 at 4.9 billion euros and the company value at 5.7 billion euros.
The offer provides for a minimum acceptance threshold of 50 percent plus one share and other conditions. Scout24 welcomed the offer. The transaction is in the best interests of the company. Source: ntv.de “Because of Kerviel’s high-risk financial speculation, the major bank Société Générale almost went bankrupt. (Photo: dpa) For years it has been clear: The billionaire gambler Jérôme Kerviel almost has the French Société Générale with high-risk financial deals driven to ruin.
Kerviel was fired and had to be arrested. But now a court believes his version: around five billion euros is a lot of money. The total roughly corresponds to the budget of the Berlin breakdown airport BER. Or the construction of three Berlin main train stations. Or the amount that ex-stock exchange trader Jérôme Kerviel gambled away with high-risk financial speculation.
This is the number given by his former employer, the French bank Société Générale (SocGen), in 2008, and Kerviel’s resignation followed promptly, as was an indictment. In 2010, Kerviel was sentenced to five years in prison, two of which were suspended, for breach of trust, forgery and manipulation of computer data. He was also ordered to pay 4.9 billion euros in damages to his former employer. Case closed, it appeared, and Kerviel has since maintained that he was not solely responsible for the huge losses. “There are dozens of emails proving their knowledge of the business,” said Kerviel.
Exactly this version of the story has now been confirmed by a Paris labor court. It took Kerviel’s side and blamed Société Générale: The bank had been up to date on Kerviel’s business as early as 2007, and the termination was therefore illegal. In addition, the circumstances of the release were “humiliating”. The judges are now turning the tables: The Société Générale is now expected to pay more than 450,000 euros in compensation to Kerviel. There are only a few traders who have ever gambled so much money. Kerviel, who specialized in trading “futures”, that is future contracts, bet on falling markets – but they rose.
With such high sums, the transactions should have been approved by a high-ranking superior, say experts. Nobody at Société Générale claims to have known anything about Kerviel’s business, but it cannot be ruled out that Kerviel deceived his bosses. The former UBS trader Kweko Adoboli had circumvented the daily trading limits from 2008 to 2011 and lied to the bank’s risk controllers. The Swiss bank suffered a trading loss of $ 2.3 billion.
In 2012, he was sentenced to seven years in prison, but who knew how much in the Kerviel case was unclear. The ex-dealer had already won a first stage win in the ongoing dispute in March 2014. At that time, the French Supreme Court upheld the jail sentence against the dealer, but at the same time overturned the € 4.9 billion compensation judgment. In September 2014, Kerviel was allowed to leave the prison after four months of imprisonment – albeit only with an electronic ankle cuff. Even after the most recent verdict, there is no end in sight to the case. The bank’s lawyer speaks of a “scandalous” decision and has announced an appeal.
Should it be confirmed that Société Générale really knew about Kerviel’s business, the bank could possibly be dearly, because because of the failures that Kerviel SocGen had caused with the financial deals, it earned less money in 2007 – and thus saved taxes. According to Kerviel’s lawyer, around 1.7 billion euros are said to have fallen through the rags of the tax authorities. The tax office could possibly demand this back.
The bank rejects that. The evaluation of Kerviel’s gambling business was done in accordance with all tax laws. In addition, the tax effects have been made public. Source: ntv.de “(Photo: picture alliance / dpa) The financial investors Hellman Friedman and Blackstone do not want to take over the classifieds portal Scout24 at any price. The two holding companies made it clear that there will be no higher offer than the 46 euros per share that are on the table – even if some Scout24 shareholders speculated on it. Hellman Friedman and Blackstone are apparently ready to let the € 5.7 billion takeover fail, provided that the takeover requires financial investors to acquire more than 50 percent of the shares. But the offer has so far met with a weak response.
By April 25, only 0.01 percent of Scout24 shareholders had tendered their papers. Through acquisitions, the investors come to a good six percent in the Munich operator of Immobilienscout24 and Autoscout24. Source: ntv.de “Osram shares are down 1.6 percent in the morning to 35.89 euros.
In trading, reference is made to a sell recommendation by Societe Generale. Even if the sales slump from the first quarter should not repeat itself, the analysts find it difficult to adopt the company’s optimistic outlook for the second half of the year. The company classifies the sales outlook as optimistic and sees it as a risk. The share is trading at 14 times the expected 2020 Ebitda and is therefore expensive – especially with no profit fantasy. The target price is 32 euros. Source: ntv.de “News and information at a glance.
Collection of articles from n-tv.de on the subject of Societe Generale The prices on the world’s leading stock exchanges collapse. Memories of the turbulence after the Lehman bankruptcy are awakened. The ongoing downward momentum in bank stocks is fueling additional fear.
It has long been proven that bankers manipulated interest rates that move billions on a large scale – and their employers had to pay heavy fines. The prosecution of the individual dealers is still at the beginning. The major French bank Societe Generale is considering closing around every fifth branch in its home market by 2020. Of all financial institutions, the Germans face by far the highest losses in Greece. While American and French financial institutions have scaled back their involvement because of Grexit concerns, Germans are even venturing back.
A good trade and a write-down resulted in higher revenues and profits for Societe Generale in the second quarter. Euroland is eagerly looking to Greece, where the early parliamentary elections will take place on January 25th. The French bank Société Générale (SocGen) sees a greater risk in the British general election.
The rumor should sound familiar to experienced investors: Commerzbank is about to sell? According to speculation, this time two major European banks are putting out feelers in the direction of Germany. High hopes are attached to the French President’s reform plans. For Societe Generale, they could also drive the stock market.
The experts also see other reasons that make France interesting for investors. The EU is sentencing Deutsche Bank and other financial institutions to a record fine for years of interest rate manipulation. But that hardly solves the problem: The Libor scandal shows how profoundly the mentality of the financial industry has to change. And how small are the chances that the cultural change will succeed. By Hannes Vogel France’s largest bank BNP Paribas reports a slump in profits.
And the competition? The Societe Generale struggles with similar problems as the top dog. Credit Agricole is doing better.
Number two in France is rushing ahead – and there is a reason. Investors reward him. “” “Speculations about a purchase by financial investors have given the shares of Scout24 wings. The stocks listed in the MDax small cap index climbed by 15.9 percent to 41.84 euros. The trigger was a report by the Financial Times, according to which several investment companies have kept an eye on the operator of the online portals “ImmobilienScout24” and “AutoScout24”. A buyer would have to put more than five billion euros on the table, including the assumption of liabilities, the newspaper wrote, citing Insider Brokerage company Liberum are expecting a bidding competition that could drive the price for Scout24 even higher.
You think a valuation of more than six billion euros is possible. A trader added that in the fast-growing online industry in which Scout24 romps, financial investors could make huge profits by exiting such companies. Source: ntv.de “The surprising announcement of his resignation by Scout24 boss Gregory Ellis causes the share price to plummet. The shares The classifieds portal, listed in the MDax small-cap index, slumped by up to 7.4 percent to EUR 42.58. “Investors are now selling shares out of uncertainty about how the company will continue,” says a trader.
It is now important that there are details about Ellis’ successor as soon as possible. Scout24 announced yesterday evening that Ellis wanted to give up his post for personal reasons. The talks about it are still at an early stage. Source: ntv.de “Lufthansa boss Carsten Spohr is also one of the signatories of the letter. (Photo: imago images / MiS) The corona pandemic has largely brought international air traffic to a standstill.
With the decline in active infections in some regions of the world, connections have been revived for a few weeks – but not across the Atlantic. That is about to change. The heads of Lufthansa and other major airlines have issued a joint letter calling on the US government and the EU Commission to enable air traffic between the USA and Europe to be resumed. The letter proposes a coordinated, joint corona test program.
Quarantine requirements or entry restrictions, on the other hand, should be dispensed with. The test program should ensure safety and restore confidence in transatlantic air traffic, according to the letter to US Vice President Mike Pence and EU Interior Commissioner Ylva Johansson.