BikeBiz Bicycle and cycling retail news
Rumours of online bike giant Wiggle floating or being sold are hitting the headlines again today, but a strategic review of the business is still ongoing, BikeBiz has been told.
Sky’s own Mark Kleinman reported this morning that Wiggle was on the verge of appointing investment bankers to manage a floatation as soon as next year.
When BikeBiz quizzed Wiggle on the topic, the retailer repeated its earlier statement, which reads:
"The Company hired Rothschild to explore various strategic options for it for the medium term, however no decision has been made at this stage with respect to any current proposal. There remains considerable potential for growth of the business and the Management team will continue to focus on maximising the opportunities.
"The Company has made this statement on a number of occasions and this continues to be the position."
UPDATE: Nasdaq.com has added a fresh take on the speculation, saying that first round bids are expected by the end of October. Private equity firms including Bridgepoint, Advent International and Warburg Pincus are likely to submit bids, the site said – citing its source as ‘a person familiar with the situation’. The site admits Wiggle has refused to confirm the reports.
