It sounds like the banks and hedgies that ended up owning the failed Interserve are already becoming fed up with being proprietors of the government contracting giant.
According to reliable City sources, Royal Bank of Scotland et al have asked advisers at Lazard to start drawing up plans for a sale of some or all of the group, which could kick off in earnest as early as this September...
On Monday Sky News via the Kleinmanator bellowed the government was about to launch a sale of some of its stake in the dreaded Royal Bank of Scotland.
But nothing came, which was a surprise as the Kleinmanator is normally on the money.
So, what happened?
Well, the City Insider column in the yesterday's venerable Financial Times has a decent explanation. Below is a link in case you missed it:..
They do say imitation is the sincerest form of flattery. So, Betaville is feeling rather flattered after reading today's City insider column in the venerable Financial Times.
One item in the column, written by senior FT hack Patrick Jenkins, is rather similar to tale about Matthew Greenburgh first aired on Betaville a few days ago. Below are the links:..
It was only a month ago that little old Betaville had the pleasure of welcoming the UK’s most famous debt collector back into corporate life.
You might remember I wrote about how Derek Sach, the controversial former head of Royal Bank of Scotland’s discredited and disbanded “business support” unit - the GRG - had resurfaced as an advisor to the Europe's largest private equity group CVC Capital Partners, former owner of Formula One. ..
Welcome back Derek Sach. Little old Betaville understands that since April 2015 the former head of Royal Bank of Scotland’s discredited and disbanded restructuring unit - GRG - has been quietly working away at CVC, Britain's largest private equity firm...
Royal Bank of Scotland has maintained a pretty steady line about the behaviour of its notorious (and disbanded) ‘restructuring division’ [also known as the Global Restructuring Group]. Nothing to look at here, move along now, has long been the message...
Royal Bank of Scotland might have been hit with bunch of fresh legal claims (see my post from earlier in the week) but yesterday the beleugered bank won its long-running legal tussle with Manchester-based developer Property Alliance Group.
In fact, it really was a comprehensive win for taxpayer-owned RBS, with the bank winning all counts in the UK's first judgement in a civil Libor-related claim...
2016 wasn't great for Royal Bank of Scotland. The embattled bank, led by Ross McEwan, not only saw its shares tumble over 20pc since the beginning of the year but also its protracted legal battles rumble on...
Little old Betaville headed to the High Court today for the final day of the Property Alliance Group's case against Royal Bank of Scotland...