Intriguing comments from Barry Hibbert re the need for industry consolidation. What's it to be, then? Polestar pulling off one of the long-rumoured deals that would see the group snap up a smaller rival, or some sort of international behemoth swallowing up Polestar? It's the scale of the indigestion that follows such moves that fascinates me.

While it's natural for speculation to centre on any likely action here on the small island, it's worth noting that consolidation is already underway on a fairly grand scale just over the channel. CirclePrinters Europe (the former Quebecor World Europe operation bought by reclusive investment group HHBV last May), is poised to take over Groupe Maury Imprimeur. This would see the two giants of the French printing industry become one goliath. Apparently the deal has been approved by the competition authorities, so it's now just the not-so-small matter of finding the cash to make it happen. If this all falls into place it will be most interesting to see who ends up running it, and whether the group will execute the ultimate in grand plans by going back with another play for Roto Smeets too. Today, France and Belgium, tomorrow the UK? It's anyone's guess what happens next.