Tiphook buys 10% share of TIP rival
20th December 1990, Page 10
20th December 1990
Page 10
Page 10, 20th December 1990
— Tiphook buys 10% share of TIP rival
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Keywords :
Tiphook, Business / Finance
• Trailer rental giant Tiphook has snapped up a 10% stake in rival company TIP Europe. Tiphook chairman Robert Montague describes the deal as a "distanced investment" and stresses that Tiphook will not be making a bid for TIP.
Montague says that TIP is "seriously undervalued", and believes that "in two or three years we shall be sitting on a very good investment". He says that the appointment of Jim Davis as TIP's nonexecutive chairman, has given him added confidence in the company.
TIP's new trailer boss Tony Rieger says he "admires Tiphook's judgement" in the timing of the deal.