Longterm that was the cash consideration, what they acquired was negative net assets, meaning the impact on equity was far higher than the £3m paid. Notwithstanding, it was still a good deal for a fintech.
Almost all south american countries are red, places like Colombia and Equador have a lower covid fatality rate than the UK since they now have 60%+ vaccine roll-out. Somehow I think this is political or they are afraid of the mu strain.
I think the issue with the UK is the government policies around pumping the housing market since you canny lose with bricks and mortar, whilst in the US they are far more focused on pumping everything.
RE: Too late to bite the bullet on Tour ?30 Aug 2021 17:02
I find EBITDA to be a good proxy for cashflow, per page 40 of the R&A the EBITDA for tours appears to be -32.9m for the 12m eneded Jan 2021. Therefore cashburn of about circa 3m per month. so over the last last year they have burnt GBP48m (16months*GBP3m) on their tour business.