Private Frazer’s Doomed Magazines

September 23, 2008

Seconds (and bidders) out; round three

Filed under: B2B magazines — privatefraser @ 3:34 pm
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This from FT.com. Emphasis added along with a large amount of sniggering.

The [RBI] auction … moved into its third round yesterday as several bidders were knocked out of the running.

The business was valued at between £1bn and £1.25bn. Bids are understood to be nearer the lower end of this estimate.

The timetable for the third-round deadline will depend entirely on whether financing can be raised amid the turmoil in the markets.

Observers say any deal remains uncertain.

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