Branson, Vodafone, Hong Kong property, Dufry: Catch up with the latest pandemic-related financial insights from Breakingviews here
it could sell up to 25 million shares in space tourism venture Virgin Galactic to support its portfolio of earthbound travel companies. Assuming a 5% discount to Monday’s closing price, a sale would raise $460 million – handy, if not game-changing, for struggling airline Virgin Atlantic, which also wants UK government help.
. Necker, Branson’s private Caribbean island, is probably worth about 100 million pounds, based on Breakingviews estimates. Mortgaging, or even selling it, would be a more convincing way to show that he is sharing the pain. The $40 billion mobile phone giant is bucking the prevailing FTSE 100 trend of cash-saving dividend cuts. Admittedly, boss Nick Read got his shareholder shocker in a year early, slashing the payout by 40% in May 2019 ahead of an expected 5G investment splurge.
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