Reply to post:

Capita flogs Asset Services division for £888m

CriticalCat

This article should really read, in order to clear massive debts from the Capita books, Capita have been forced to sell off one of their most profitable business units. Asset Services is a solid business unit with good profitability and Link Administration have correctly identified that Capita were desperate to do a deal and have picked up a bargain.

Capita will now use the cash to clear debts incurred from various failed acquisitions under the stewardship of Andy Parker.

Capita will be looking to make further redundancies as debts are still not cleared and profits are still not high enough even though they have just had a cash injection of £888m.

A downward spiral indeed...

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

SUBSCRIBE TO OUR WEEKLY TECH NEWSLETTER

Biting the hand that feeds IT © 1998–2020