Royal Mail's Chief Executive Rico Back Quits! | Market Update

  • May 15, 2020 BST
  • Team Kalkine

Royal Mail's chief executive Rico Back has quit with immediate effect as the group reported a £22m slump in revenue with a sharp drop in letters being sent.

Boohoo has completed its £200 million fundraising in less than 24 hours as it considers further acquisitions of high street retailers that have been impacted by the Covid-19 crisis. The online retailer revealed its intention to acquire new brands less than 24 hours after launching the fundraising to tap shareholders. Boohoo launched the fundraising round yesterday, just three weeks after it reported to have over £240 million of net cash at the end of February.

BT has reportedly started talks to sell a multibillion pound stake in Openreach, which runs the UK’s broadband network. Openreach, a subsidiary of BT that operates as a legally separate entity, has been the subject of rumours of interest from infrastructure and private equity investors for years.

#fundraising #kalkine #ukbusiness


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