INVESTORS in Markit fear the
Such a deal would value the group at
But until the company and its financial backers have more certainty on the proposals, it is proving difficult to consider the right level for the price of the sale, and so to push ahead with the mooted initial public offering.
Market volatility is one hurdle - a flood of mergers and acquisitions, as well as flotations, are underway currently, but just a month ago some deals looked unlikely as energy market turmoil hit stock prices.
And the EC's anti-trust investiga-tion is also another potential sticking point.
The Commission launched its competition probe in 2011, looking at potential collusion between 16 banks and Markit in the credit default swaps (CDS) market.
The authorities worry that the system by which Markit obtains the data is very opaque, as the banks give it directly to the firm, and the figures are available from very few other providers.
In autumn 2013 European commissioner
That probe is still continuing, but the timescale is a flexible one - the election of new commissioners this year could potentially accelerate the conclusions.
The maximum fine if Markit is found guilty of anti-competitive behaviour would be 10 per cent of its annual turnover. In 2012 its turnover was £530.3m, meaning any charge could come in at as much as £53.3m.
Markit, the banks, the hedge funds and the
ADVISERS JEFFERIES was brought in alongside JP Morgan Cazenove to assist AO on its £1.2bn float, acting as joint sponsor, bookrunner and global-co-ordinator.
But before striking big deals for investment banks, Adams was scoring points on the tennis court as a professional player. He spent two years on the professional tennis circuit and was ranked within the world's top 600 before putting down his racket to pursue a more lucrative career. He has worked on several technology deals for Jefferies including advising
KASMIRA JEFFORD PROFILE: JOHN ROBERTS JOHN Roberts' idea for an online appliance business started in 2000 with a bet in a
But 13 years later, Roberts has won his pound from Latchford - plus over £540m from creating a business that now accounts for almost 25 per cent of the
The 40 year-old, who claims "not to be very academic" and left school without any qualifi-cations, founded Appliance Onlines, now
The company built its success by undercutting the big high street retailers like Comet - now defunct - and providing services such as same-day delivery.
It also set up a white-label business, creating online operations for other business - Sainsbury's became its first partner, with Boots and B&Q all following soon after.
Roberts yesterday attributed its "obsession with customer service" for its market debut success, saying that investors had "understood our business model and our potential". KASMIRA
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