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BUSINESS EXTRA Telefonica’s Virgin
Coffee break
PRET A MANGER is increasing the cost of its monthly subscription service by a fifth to £30 (€33.9) for a daily five coffees but will give a 10 per cent discount on food and snacks alongside free drinks. The sandwich chain warned that the “inflationary challenge” was everpresent.
Payback time
RENTING stateowned Sareb’s 50,000 properties at affordable prices will repay taxpayers’ money, Spain’s Economy Minister Nadia Calviño, said. She added that after taking control of Spain’s “bad bank” the government’s “good management” was returning to society its contribution to the 2011 bank bailout.
Takeover bid
MEDICA GROUP is the latest Londonlisted business targeted by private equity buyers following IK Partners’ £269 million (€303.7 million) bid for the teleradiology provider. Medica’s board advised shareholders to vote for the deal, saying this would allow investors to recognise the business’s growth potential.
New post
GERMANBORN Miguel Angel Lopez Borrego, who has Spanish nationality, replaces Martina Merz as CEO of the German group ThyssenKrupp on June 1. Lopez Borrego, who is 58, and currently interim CEO of Norma Group, is a former director of Siemens Spain and a member of the Siemens Gamesa board.
Desert song
UMAR KAMANI, former CEO of the PrettyLittleThing fastfashion chain, sold 30,000 square feet (2,787 square metres) of undeveloped sand in Dubai that cost him £6.42 million (€7.3 million) for more than £27 million (€30.5 million). Kamani’s buyer is believed to be a member of the Saudi royal family.
