Good news found in bad news

The on-going woes of Serco were widely reported this week with the company returning to the markets for additional funding.  What has been widely reported as a problem for the business is perhaps overly pessimistic; a quote from the press indicates that there is very good support for the company and encouraging signs ahead,

"The fundraising, led by brokers Bank of America Merrill Lynch and JP Morgan Cazenove, was three times oversubscribed, with a mixture of new and existing investors backing the placing."

The mixture of new and existing investors demonstrates widespread support from financial institutions and indicates that a return to better days is not far ahead, putting the darker days at the PAC firmly in the past.

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