Prosus appears unlikely to succeed in its bid to buy Just Eat as it grows its food delivery platform. The UK group has again urged its shareholders to disregard an improved offer from the Naspers spinoff and rather to support a merger with rival Takeaway.com. Neither group will increase offers they revised last week. And with close to half of Just Eat's shareholders already siding with Takeaway.com, it is likely to emerge the victor on 10 January when it comes down to the vote. Share in Prosus and parent Naspers both rose on Friday, perhaps a sign that shareholders are relieved that it won't end up overpaying for a business that will require further investment. Meanwhile, Ascendis Health's shares continued their steep descent despite the pharmaceuticals group reporting strong growth from Remedica after failing to sell the Cyprus-based business. Stock exchange operator JSE Limited also fell after it warned a weaker earnings this year after a decline in first-half trading activity and a number of once-off payments, including recent management changes. More on those stories to follow along with news of a possible land acquisition in DRC for Glencore's Katanga subsidiary and PSG's disposal of its stake in radio frequency technology holding group Alaris. Finally, if you're still looking for a stocking filler with the potential for investment returns beyond the festive season, Ingham Analytics has a few to suggest in its latest research on how to 'politics-proof' your investment portfolio this Christmas. You can access the report here. I hope you have a good weekend. Stephen Gunnion Managing Editor, InceConnect |