Feeds

Egg still hasn't got a buyer

Lower losses

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

Seven months on the block and Egg still hasn't found a buyer. The British e-bank-cum-credit card outfit today announced a better set of interims, bringing the haemorrhaging French arm under control, more or less, to come in at a loss of £4m for the half year. Same period last year, it lost £23m. But a quick look at the share price today, down 4.3 per cent at time of writing, shows that the City is less than whelmed. Why? No buyer.

Egg was put up for sale seven months ago by Prudential, the UK insurance business which owns 79 per cent. Since then, loadsabanks have been named as potential buyers for the business. But no-one was interested in lossmaking France, so that is to be closed. And still no buyer. This week, Reuters named JP Morgan, the US investment bank, as a late contender for the business, joining MBNA, Capital One and the Royal Bank of Scotland as candidates. ®

Related stories

Egg flees France
Egg attracts interest from Capital One
Egg punters up, losses down
Egg decorated for site accessibility in DRC study

Beginner's guide to SSL certificates

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.