Well, while former GWR chief Ralph Bernard gets busy with some post-merger restructuring over at GCap, we hear the whole company might soon have new owners. Apparently at least two private equity firms are interested in acquiring the radio group, interest that has pushed up the company's share price by some 10%. The departure of former Capital Radio boss David Mansfield from the chief executive role at the merged company, and the subsequent £25 million cost cutting exercise initiated by Bernard, have both reportedly re-excited investment types. The city previously had doubts about GCap after some £200 million was wiped off its market capitalisation after the merger (not sure what that really means, but it's not good). That said, some experts say that the fact Bernard is doing the kinds of things city types like might make the group's current shareholders much less likely to sell, and on those grounds they are not convinced any takeover will, in fact, go ahead.
Oct 19, 2005
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1 min read
Investment types interested in buying GCap
Two private equity firms are reportedly interested in acquiring GCap, pushing its share price up around 10% after cost-cutting by chief Ralph Bernard.