RBI Late on Sale
The Times reported yesterday that the Information Memorandum on RBI has not been published, despite expectations that it would be available in Mid May. I am led to believe that internal expectations amongst the staff are that a deal would be done by August. This is highly unlikely with delays already creeoing in. The one thing we all know about sale processes is that they always take longer than you think - and this will be no exception.
Also finally news that Reed has sold its defence assets to Clarion for an unspecified sum - but presmably the long delay has been a tortuous price chipping negotiation.