In the aftermath of the CVC/Cosmen consortium’s decision to withdraw its interest in National Express on October 16, rumour after rumour swept the City about the reasons for the collapse of a deal which most expected to be concluded imminently.
Initially, it was suggested that the consortium had come across new information related to NEG’s loan facilities and banking covenants. The next rumour to surface was that CVC’s own banking facilities were under pressure. That was...
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