Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Scoot.com's Bonnier is man behind Regus 'takeover bid'

Heather Tomlinson
Sunday 12 January 2003 01:00 GMT
Comments

Robert Bonnier, the former chief executive of Scoot.com, is understood to be leading the team from Indigo Capital that has made the controversial "bid approach" for property group Regus.

The Belgian-born Mr Bonnier is believed to have contacted related parties in the UK about the deal. In his last statement to the Stock Exchange concerning Scoot, he gave his direct phone line at Indigo, a secretive investment organisation.

Indigo appears to have been steadily buying up shares in Regus, leading to speculation that it was to bid.

With its holding declared at 15 per cent, the Takeover Panel asked Indigo to clarify its position in relation to the shares. On Tuesday it said it was "interested in exploring a range of strategic, commercial and financing alternatives with the board of Regus, one of which may include a recommended takeover."

A further statement on Thursday revealed that, rather than holding the shares, Indigo had entered into a "contract for difference" arrangement, a complex way of betting on share price movements. The statement went on to say that nearly 13 per cent of Regus's shares had been held by a broker in relation to the deal, but Indigo did not have the right to buy them, and its direct holding was just 0.12 per cent.

The Financial Services Authority is now investigating whether any rules on market manipulation were broken.

Mr Bonnier is no stranger to controversy. Allegations have been made to regulators that he engaged in insider trading in shares of Hobson and Blenheim Group. He has always denied this and no action has ever been taken.

Calls to Mr Bonnier's office were not returned. Regus declined to comment.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in