People and Business: Growing pains

IN 3i's January issue of its magazine QED Professor John Kay of Oxford University's Said Business School takes the sword to companies that pursue mergers for the sake of size.

"Never has the cult of gigantism gone so far," fulminates the professor. Strangely, Professor Kay neglects to mention 3i's current bid for Electra Investment Trust. I'm sure 3i's bid is purely based on competitive advantage ...