(BFW) Man GLG Hires Simon Pickard, Edward Cole From Carmignac Gestion

BN 05/07 08:12 *MAN GLG ANNOUNCES HIRES IN E-MAILED STATEMENT
BN 05/07 08:11 *MAN GLG HIRES PICKARD,COLE FOR UNCONSTRAINED EM EQUITY STRATEGY
BN 05/07 08:10 *MAN GLG HIRES SIMON PICKARD, EDWARD COLE FROM CARMIGNAC GESTION
Man GLG Hires Simon Pickard, Edward Cole From Carmignac Gestion
2015-05-07 08:19:16.946 GMT


By Bei Hu
(Bloomberg) -- They will be portfolio managers of
unconstrained emerging equity strategy that co. is starting
soon, Man GLG says in e-mailed statement today.
* Pickard headed emerging market equities at Carmignac Gestion
and ran its large- and mid-cap global emerging markets funds
* Cole was portfolio manager at Carmignac Gestion, co-running
emerging market multistrategy fund

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To contact the reporter on this story:
Bei Hu in Hong Kong at +852-2977-6633 or
bhu5@bloomberg.net

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>>> Equinix confirms talks on possible cash and share offer for TelecityGroup

Equinix confirms talks on possible cash and share offer for TelecityGroup

Equinix, Inc. ("Equinix") notes the recent announcement by TelecityGroup plc ("TelecityGroup"). Equinix confirms that it is in preliminary discussions with the Board of TelecityGroup regarding a possible cash and share offer for TelecityGroup.

The Board of Equinix believes that this opportunity represents attractive shareholder value creation potential for Equinix, complementing and extending Equinix's geographic footprint in Europe and enabling increased network and cloud density to better serve customers. In the United Kingdom, the acquisition of TelecityGroup would add capacity in Central London and Docklands that would complement the focus of Equinix's current operations in Slough. Additionally, the acquisition would add capacity in several of Equinix's current locations throughout Europe, and extend Equinix's footprint into new locations with identified cloud and interconnection needs including Dublin, Helsinki, Istanbul, Milan, Stockholm and Warsaw.

In addition, the Board of Equinix believes that a potential transaction with TelecityGroup would create a more compelling combination than the proposed merger with Interxion Holding N.V. and would deliver greater value for TelecityGroup shareholders.

In accordance with Rule 2.6(a) of the Code, Equinix must, by not later than 5.00 p.m. on June 4, 2015, either announce a firm intention to make an offer for TelecityGroup in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Takeover Panel (the "Panel") in accordance with Rule 2.6(c) of the Code.


This announcement does not amount to a firm intention to make an offer and accordingly, there can be no certainty that any offer will be made, nor as to the terms on which any offer would be made. A further announcement will be made as appropriate.

FT : Case for a break-up boosts Vodafone

A fresh twist on takeover speculation helped put Vodafone among London’s biggest gainers on Wednesday.

Exane argued for a Vodafone break-up once its investment into data services winds down. That could mean Liberty Global buying Vodafone’s European business, while the African and Indian divisions are packaged off to peers or private equity, the broker told clients.

Investor appetite for Vodafone shares should start to revive once Project Spring, Vodafone’s £7bn network upgrade, delivers organic revenue growth, Exane said. And with Project Spring spending due to end this financial year, Vodafone’s corporate structure will return to the agenda.

“As the complexity of Vodafone’s business increases so do the diseconomies of scale,” Exane said. “Vodafone could look radically different on a three-year view — either thanks to its own proactive initiative or to a reversal in the perceived food chain.”

John Malone’s Liberty Global has long been seen as Vodafone’s number-one target. But Liberty’s UK and German cable businesses are not essential for Vodafone, whereas customer demand for unified services will stretch Liberty’s reliance on virtual mobile networks, Exane said.

Low borrowing costs “appear to provide oxygen” for a Vodafone offer, particularly as Liberty “is arguably as much a financial engineering company as an operating company”, Exane said. It put a 270p target price on Vodafone, which added 1.6 per cent to 232.2p.

Weakness among the mining and oil stocks flattened the wider market, leaving the FTSE 100 up 6.16 points at 6,933.74. Better than expected interim results meant Sage led the risers, up 8 per cent to a 15-year high of 536p.

Talk of US interest in a UK-based oilfield engineer helped put the sector in focus. Hunting edged 0.8 per cent higher at 612.5p and Petrofac rose 0.8 per cent to 886p.

Aveva, the design software maker for marine industries, jumped 7.1 per cent to £18.75 on a revival of takeover speculation. The list of potential bidders included Emerson, which was last year rumoured to have looked at Aveva and has recently indicated a priority switch from buybacks to mergers and acquisitions.

Al Noor Hospitals hit a one-year low, down 5.2 per cent to 855.5p. The stock has dropped 13.8 per cent since mid April when a share sale by Ithmar Capital flopped, leaving Deutsche Bank holding a sizeable stake that it has been selling down ever since.

Consensus expectations remain too high for Al Noor given wage inflation, employee churn and new hospital opening losses, said Numis Securities.

Leading the FTSE fallers, Aberdeen Asset Management lost 4.3 per cent to 431.1p in the wake of Tuesday’s results showing heavier than expected equity outflows. Merrill Lynch, repeating an “underperform” rating, said not to expect fund flows to turn positive before 2017.

Man Group, down 5.8 per cent to 172.9p, was mirroring the performance of its core AHL trend-chasing funds, which have fallen for five consecutive days.

>>> What to look at today - 7th of May 2015

Dow-0,48% S&P-0,45% Nasdaq-0,40% Russell+0,32%
US Market closed lower for second day in a row, closing below its 100d MA. Fed Chair Janet Yellen reminded investors that equity valuations are "generally quite high" and that raising the fed funds rate is likely to be followed by a spike in Treasury yields..Technology was weak with all big names under performing...Semi & Biotech Out performed...staple & Basic Materials closed near the flat line as Telecom Services (-1.2%) & utilities under performed..Crude oil was weak and push energy lower...volume were ahead of recent days @ 800mil shares traded...US After Hours BEAT +12%, ZNGA +5.8%, TRIP +5.2%, NUS -17.3%, WFM -11.3%, GMCR -11% following earnings/guidance...Anne Taylor (ANN) +9.1% (Seeing reports that co is in potential takeover talks with Golden Gate Capital as suitor)...Asian markets extend in negative territory with Japan returned from Golden Week holiday. Shanghai Composite dived 1.4% in morning session deepening fears for speculation on margin control and new listings to snap funds from markets. Japan services sector moved back into expansion for the first time in three months.

Nikkei -1.35% Hang Seng -1% Shanghai -1.82%

Eur$1.1363 RUB $50.8622 EURCHF 1.0392 CHF 0.9145 GBP 1.5246 JPY 119.45 WTI $60.56 (-0.6%)

S&P +0.04% euroStoxx -0.35% Dax -0.12% SMI -0.23%

Macro :
- Gross’s ‘Short of a Lifetime’ Sours as Bund Slump Surprises
- ECB Decision on Greek Haircuts Said to Depend on Political Talks
- Next BOJ Stimulus Boost Seen Coming Later by Three Banks
- Yellen Says Stock Valuations ‘Quite High,’ Bond Yields Low
- The End of Mark Mobius’s Reign as King of Emerging-Market Stocks

Keep an eye on :
- ARL GY : Aareal Bank 1Q Net Interest Income Rises 24%; Confirms Forecast
- ADEN VX : Adecco CEO De Maeseneire to Step Down, CFO de Daniel to Leave, Alain Dehaze new CEO
- ALU FP : Alcatel-Lucent Sees Positive Free Cash Flow in 2015, CEO Says
- ANA SM : Acciona mulls listing of its entire renewable assets portfolio (KKR bought 33% for 400mil last year)
- MT NA : ArcelorMittal 1Q Ebitda Misses; Reduces FY Forecast on Iron Ore, Cuts Forec. as Iron-Ore Rout Halts Steel Gains
- CS FP : AXA 1Q Total Rev. EU31.5b vs EU28.5b
- SPR GY : Axel Springer 1Q Sales Rise 13%; Confirms 2015 Outlook
- BAS GY : BASF Sells Custom Synthesis Business, Parts of API to Siegfried
- AFX GY : Carl Zeiss Meditec Sees Mid-Term Ebit Margin of 13%-15%
- CBK GY : Commerzbank Targets CET1 ‘Significantly’ Above 10% by End-2015
- CNP FP : CNP Assurances Says 1Q Net Rises 9.8% to EU280m
- DLG GY : Dialog Semiconductor 1Q Sales, Op. Profit Beat Ests.,
- EBC1V FH : Elektrobit Sees 2015 Net Sales, Op. Result Growing vs 2014 Level
- ELIOR FP : Elior Investors Selling 16.4 Mln Shrs in Bookbuilding
- ENTRA NO : Entra 1Q Net Income NOK936m vs NOK68m yr ago
- EBS AV : Erste Bank 1Q Net Income EU226m, Beats Ests; Outlook Confirmed
- RF FP : Eurazeo to Give 1 Free Share for 20 Held
- EVK GY : CVC Sells 22m Evonik Shrs at EU31.85/Shr (Range was €31.70 to mkt price)
- FRA GY : Fraport 1Q Ebitda Rose 14% to EU153m, Outlook Confirmed
- FNTN GY : Freenet 1Q Rev. EU748.5m , Est. EU718.3m
- GLPG NA : Galapagos Says Johnson & Johnson Unit May Buy $25m of Stock
- GAM SM : Gamesa 1Q Net EU62M vs EU17M a Year Earlier
- GTO NA : Gemalto considering security-related technology buys in LatAm, executive says
- INGA NA : ING Bank 1Q Underlying Profit EU1.19b; ROE 12.2%
- ING FP : Fosun is taking a 20% stake in Ingenico chinese Branch.
- KGX GY : Kion 1Q Rev. Rises 7%, Confirms 2015 Outlook; Buys Egemin Unit
- LI FP : BNP Paribas Selling 22m Shrs in Klepierre Bookbuild, 7% of Capital, shares placed @ €39.60
- KCO GY : Kloeckner 1Q Ebitda Drops, Says 2015 Target Is Very Ambitious
- LXS GY : Lanxess 1Q Ebitda Ex-Items In Line, Raises 2015 Guidance
- LR FP : Legrand 1Q Sales in Line With Ests.; Confirms 2015 Forecasts
- TL5 SM : Mediaset Espana 1Q Net EU36.4M Vs EU12.8M a Yr Earlier
- MEO GY : Haniel Placed 16.25m Shares in Metro at EU30.37/Shr
- MUV2 GY : Munich Re 1Q Net Income Drops 16% to EU790m; Est. EU787.3m
- KN FP : Natixis 1Q Net EU287m vs EU270m Y/y
- KN FP : Natixis Says French Market Regulator Probing Asset Mgmt Unit
- ORA FP : Orange Said to Be in Talks With Masmovil Over Spain Fiber Sale
- ORK NO : Orkla 1Q Net Rises More Than Est.; Weaker NOK, SEK Raising Costs
- P1Z GY : Patrizia 1Q Operating Result Drops, Confirms Outlook
- PSM GY : ProSiebenSat.1 1Q Sales, Recurring Ebitda Beat; Confirms Targets
- RHM GY : Rheinmetall 1Q Ebit EU22m vs Loss Y/y
- RHK GY : Rhoen-Klinikum Confirms 2015 Forecast After 1Q Results
- RIO LN : Rio Has No Desire to Flood Iron Ore Market, Du Plessis Says
- ROG VX : Roche FDA Breakthrough Therapy Designation for BCL-2 Inhibitor
- RTL BB : RTL 1Q Sales in Line With Ests., Net Attr Up 17%; Keeps Targets
- SIE GY : Siemens 2Q Industrial Profit Margin Drops, to Cut Jobs
- SIX2 GY : Sixt Leasing Places 12.4m Shrs for IPO Net Proceeds of EU98.7m
- SAZ GY : Stada 1Q Sales, Adj. Ebitda Miss Ests.; Keeps 2015 Forecast
- UHR VX : Swatch Plans 2016 Release of Long-Life Smartwatch Battery: Rtrs, Hayek Calls Apple Watch ‘Opportunity’ for Swatch: Handeslzeitung
- SWECB SS : Sweco 1Q Operating Profit Meets Ests.; Says Mkt Still Improving
- TEG GY : TAG Immobilien 1Q FFO I EU18.1m vs EU19.2m
- HO FP : Thales to benefit from recent Rafale order - Moody's
- VIE FP : Veolia 1Q Rev. in Line With Ests.; Confirms 2015 Targets, Veolia ‘Not Working’ on Any Plan to Buy Areva Assets: CEO
- VOD LN : FT Article on Potential break up of the company - Full article in your inbox
- WIE AV : Wienerberger 1Q Rev., Ebitda Beat Ests.; Keeps Profit Target
- ZURN VX : Zurich Insurance 1Q Net $1.22b; Est $1.08b; Combined Ratio Rises