Sunday newspaper round-up: Etihad float, Shein, Thames Water
By Alexander Bueso
Date: Sunday 09 Feb 2025
(Sharecast News) - Abu Dhabi based carrier Etihad is planning to float a stake of up to 20% on the Abu Dhabi Stock Exchange. Sources indicate that it could command a valuation of $5bn (£4bn). It would be the second such transaction for its boss, Antonoaldo Neves. In 2017, the former McKinsey partner floated Azul, Brazil's third-largest airline, on the New York Stock Exchange. For Neves, any airline that aspires to be "relevant" needs to tap into different sources of capital. Its goal is to fly 170 jets by 2030, up from 93 at present. - The Sunday Times
Some of Britain's biggest retailers are pressing ministers to put a stop to the tab loophole that helps Singapore-based online fashion group Shein. Under that concession, Shein, most of whose products are manufactured in China, can send parcels directly to clients in the UK without paying duty. High Street retailers such as Primark have thus been exasperated by what they consider to be Labour kowtowing to Shein. For its part, the government is desperate for Shen to list in London. - The Financial Mail on Sunday
Government officials suspected that Thames Water chairman, Sir Adam Montague, held a potentially "conflicted position" when the company paid out an "unjustified" £37.5m in dividends to its shareholders. During the preceding week, the water provider had been in high court seeking an emergency £3bn lifeline in order to avoid bankruptcy. The business faces an £18.2m penalty from Ofwat over its dividend policies. - Guardian
StanChart is following orders from Beijing and withholding tens of millions of pounds of pensions savings belonging to Hong Kong political exiles. It is not alone, as HSBC has been acting similarly. StanChart has withheld £20m of British National (Overseas) passport holders. Rights group Hong Kong Watch Pension alleges that £3bn of savings are being withheld rom 126,500 people from Hong Kong, of which £1bn is overseen by HSBC or StanChart. - The Financial Mail on Sunday
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