M&A shows resilience but still far from resurgent

By David Rothnie
04 Jun 2020

A $5bn take-private of Spanish telecoms operator MasMovil is the first sign of the return of M&A deal-making. But as bankers work frantically behind the scenes to rebuild the market, the big, integrated houses look set to dominate, writes David Rothnie.

M&A bankers are an optimistic bunch, but the Covid-19 pandemic has taken even the most seasoned dealmaker’s wind out of their sails.

“In my 27 years in M&A, I’ve never known such a sudden drop in deal-making,” said Piero Novelli, co-president of UBS Investment Bank. Announced M&A volumes have ...

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