Tuesday 13 July 2010

Black not sheepish about breaking silence of the lambs

We've all kicked ourselves when unloading the weekly shop only to discover we've neglected to pop a couple of important items into the basket. But has Ocado just done the same?
The unprofitable soon-to-be-floated online retailer hired UBS, JP Morgan Cazenove, HSBC, Barclays, Lloyds Banking Group, Numis, Jefferies and Goldman Sachs to assist on the listing - a tactic almost certainly designed to stop any heckling about the firm's over-priced offer, as the flotation gig includes the implicit support the banks' biddable analysts.
Still, scribblers at institutions missing out on the Ocado gravy train don't seem as keen to partake in this silence of the lambs - and Shore Capital's Clive Black and Arden's Nick Bubb have even had the gall to say so. Time to pay off this insolent pair too?

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