Lastminute: the backlash begins
Sundays dig in
City bookies may be squabbling about how much Lastminute will be worth after its the first day of trading (more than double the IPO price, they agree). But the Sunday papers are decidedly sniffy about the post IPO prospects of Lastminute.com. The Financial Mail on Sunday advises its readers to avoid the share offering. The Sunday Times ungallantly describes Lastminute's Martha Lane Fox as the "Sophie Mirman of our era". (Mirman was the founder of Sock Shop, a supersoaraway retail stock of the 1980s that overreached itself and had to call in the receivers). Meanwhile, The Sunday Express has written a huge piece on Lastminute, based around some well-publicised research on online travel agencies in Europe, from MMXI Europe. Lastminute is still number one, but the competition is catching up fast, it reports. ®
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