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Further shareholder returns possible at Dixons Carphone, says Oriel Securities

Thu, 15th May 2014 11:43

Oriel Securities has reiterated a 'buy' rating for Dixons Retail, saying that the announced all-share merger with Carphone Warehouse should be seen as a positive for shareholders.After months of talks the companies announced on Thursday a 'merger of equals' that would create a entity worth around £3.7bn as of Wednesday closing prices, Oriel said.The new company, to be named Dixons Carphone plc, is hoped to create a "world-class British retailer for the new digital age", offering consumer electricals, mobiles, connectivity and related services, the firms said.Oriel estimates that the enlarged group would generate £380m of earnings before interest and tax this year with a healthy net cash position in excess of £130m."At first glance, the benefits from the deal look positive, and accretive to earnings, raising the possibility of further shareholder returns, particularly as property losses and high coupon bonds unwind in the next three years," the broker said.BC
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14 Jul 2014 15:01

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9 Jul 2014 15:54

MARKET COMMENT: Insurers Lead FTSE To 10-Week Low Ahead Of Fed Minutes

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9 Jul 2014 12:03

London midday: FTSE 100 extends losses as insurers and retailers fall

- Admiral, Aviva lead markets lower - FTSE 100 on track for worst finish since late April - Retailers fall as UK retail prices fall 1.8% - Investors nervous ahead of Fed minutes techMARK 2,777.53 -0.59% FTSE 100 6,708.55 -0.44% FTSE 250 15,526.79 -0.80% UK stocks were heading for their worst finis

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9 Jul 2014 09:00

London open: Admiral leads markets lower as investors await Fed minutes

- Admiral shares drop as H1 revenues fall - Markets await FOMC minutes for rate-hike clues - Chinese inflation eases - Alcoa beats forecasts as Q2 earnings season gets underway techMARK 2,783.11 -0.39% FTSE 100 6,721.47 -0.25% FTSE 250 15,601.53 -0.33% UK stocks fell for a third straight day on We

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7 Jul 2014 10:00

Ex-divs to take 1.1 points off FTSE 100 on July 9

LONDON, July 7 (Reuters) - The following FTSE 100 companies will go ex-dividend on Wednesday, after which investors will no longer qualify for the latest dividend payout. According to Reuters calculations at current market prices, the effect of the resulting adjustment to prices by market-ma

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30 Jun 2014 14:05

Carphone Warehouse signs deal to sell Virgin Mobile

Telecoms retailer Carphone Warehouse has signed an agreement to sell Virgin Mobile France, its joint venture network operator co-owned with Virgin Group. The business is being sold to Numerical Group for an enterprise value of €325m. Carphone Warehouse holds a 46% stake in Virgin Mobile's holdin

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30 Jun 2014 12:05

UK MIDDAY BRIEFING: BAE Systems Deepens Saudi Partnership

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