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Article: Future Network drops Morgan Stanley for UBS Warburg.
- Article from:
- Financial News
- Article date:
- October 8, 2002
CopyrightCOPYRIGHT 2002 Financial News Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Janine Brewis
Future Network, the UK consumer magazine publisher, has dropped Morgan Stanley and Beeson Gregory as joint-brokers in favour of UBS Warburg.The decision was taken after John Bowman, finance director at Future Network, decided to review all of the company's advisers in an effort to streamline arrangements. He said: "I generally favour simplicity in business."
Bowman said that Morgan Stanley and Beeson Gregory had done a very good job ensuring the success of the [euro]55m rights issue in 2001. He also agreed that to some extent Morgan Stanley was too big to advise Future Networks and Beeson Gregory was too small.
UBS Warburg ...