Alicia shrugged. ‘It’s hard to say. They might even have trouble finding a buyer. Acquiring companies want to see value and potential for growth in a target buy. Not one that brings little to the table.’
Rachel had stopped drinking and begun listening to what the other woman had to say.
‘And what about the Denver Group as a whole?’
‘No big news there. The value dipped after Julian’s death, though the markets rallied when Ralph was installed as interim CEO. But there won’t be any stability until an official appointment is made.’
‘Who is favourite for the job?’
‘Elizabeth, the daughter, of course.’
Rachel tried hard not to curl her lip. ‘She’s highly regarded, isn’t she?’
‘Difficult, but brilliant,’ replied Alicia. ‘To be honest, no one really knows why she wasn’t made CEO in the first place. I don’t want to speak ill of the dead and all that, but I never got the sense that Julian Denver’s heart was in it. A huge company like Denver needs a very strong figurehead, a Warren Buffett, a Branson, a Ratan Tata. And quite honestly, the City never felt Julian was quite of that calibre.’
‘Come on, Ally, there’s no need to talk like that,’ said Liam diplomatically.
‘Rachel wants the truth, doesn’t she? And as a woman, she will know, as I do, that in this world tradition and pig-headed stupidity go hand in hand. Elizabeth was the eldest child but Julian was the eldest son, and Ralph Denver pushed for him to be head
of the board. Tradition, you see, that’s the way it is for these men.’
‘But didn’t the scandal undermine his position?’
Rachel wasn’t sure she wanted to hear the answer, given her involvement.
‘Yes, but by the time Ralph announced his retirement, the brouhaha surrounding Julian’s indiscretions had died down and he got the job.’
Even with Diana’s connections, they had only been allotted a two-hour time slot for dinner. The rest of their supper was more convivial. Rachel found out what a lot of Liam’s old Cambridge friends she had never met or even heard about were now up to. Alicia in turn asked a few perfunctory questions about their life in Ko Tao.
When it was almost time to leave, Liam excused himself to go to the gents’. While he was gone, Alicia laid a hand on Rachel’s arm and told her to take care of him. Rachel didn’t like to correct her. Liam didn’t want or need her protection, but it was interesting that she too thought they were together.
‘He’s one of the good ones,’ said Alicia with a note of regret. ‘Sometimes I can’t even remember why we decided to break up. Here, let me give you my card, and I’ll take your details in case I hear any more about Rheladrex.’
Liam helped them both on with their coats, a minor tussle for who should have his attention first, and they began to leave the restaurant.
‘Rachel. Rachel Miller. Is that you?’
For a minute she couldn’t place the loud shriek above the clattering plates and the conversation of the diners. Then she froze. The face was familiar. ‘Becky Moore? Crikey, I didn’t recognise you.’
‘Rebecca Mitchell now,’ she said, holding up a glittering wedding ring. Becky had been an intern on the showbiz desk when Rachel had first joined the Post and had been her wing man on all those nights hanging around in clubs trying to catch a story they could sell. She had spent some time on the entertainment pages at the paper, then moved sideways into celebrity magazines, where, if Rachel was up to date, she was now editor of one of the more popular titles.
‘Should I see you outside?’ asked Liam.
Rachel was loath to leave him alone with Alicia, but there was no way she could ignore Becky, so she nodded.
‘So how the hell are you?’ said Becky, looking Rachel up and down. ‘Looking very tanned and yummy.’
‘Well, I’m living in Thailand now,’ smiled Rachel. ‘I have a diving school. That’s my partner over there,’ she added, pointing out Liam. Becky’s jaw almost hit the floor.
‘Gorgeous!’ She slapped Rachel’s arm. ‘Where did you find him? I want one too!’
‘Business partner,’ she smiled, correcting her. ‘We’re opening a hotel, too.’ Rachel had never been boastful – in fact she hated the sort of people who exaggerated everything – but she wanted to impress Becky, wanted her to see that she hadn’t crashed and burned after the hacking debacle.
‘Well, it’s good to see that you’ve made a go of things. You’re better off out of newspapers,’ said Becky, waving her hand. ‘It’s changing; the media as we knew it has gone. There’s no advertising, circulations are dropping and everyone’s reading everything they want to on the internet or their phones. Newspapers are a dying breed, magazines aren’t that much better. I think I might just go and open a chocolate shop.’
It was good seeing her old colleague; it brought back so many fun memories of a time when they were both hungry and driven. They’d had some brilliant times together.
‘Come on then,’ urged Rachel. ‘Tell me some news. I’ve been on the other side of the world for the last three years. Who’s doing what?’