Our portfolio is full of very frugally valued businesses

February 2024

Currys (the UK and Nordics electronics and appliance retailer) has attracted a number of takeover bids in February (as mentioned in the FT here). As we discussed in our last quarterly, there has been a marked increase of interest in our companies of late. This should not be a surprise, as our portfolio is full of very frugally valued businesses, but it’s pleasing that others are becoming aware of the opportunity. That said, we don’t want to see our companies taken out too cheaply, and we were more than happy to see Currys rejecting the bids as Sky New Zealand did in November.

As usual, please find our factsheet here.