Smaller breweries warn deal could harm independent beer firms
Danish brewer Carlsberg and British pubs and cask ale firm Marston’s have announced a joint venture, prompting concern among small brewers who fear being squeezed out of the market.
Shares in Marston’s surged by 36%, recovering some of the value lost since Covid-19 lockdown shut pubs across the country, as investors applauded the tie-up.
Continue reading...Minsters want national security measure after failed boardroom coup at technology firm
An aborted Chinese-led boardroom coup at a British technology firm is set to force the UK government to adopt stronger intervention powers to prevent hostile countries taking major stakes in strategic UK businesses.
The coup, involving putting four Chinese government-backed members on to the board of Imagination Technologies, has led Tory backbenchers to demand ministers toughen pre-existing plans to add a stronger national security element to UK takeover laws.
Continue reading...Firm unclear as to exact cost of coronavirus pandemic but now faces challenge from O2-Virgin Media merger
BT has scrapped its dividend for the first time in more than a decade to free up billions to invest in building 5G and next generation full-fibre broadband across the UK.
BT, which is facing a new rival after the owners of Virgin Media and O2 announced a £31bn merger earlier on Thursday, reported a 12% fall in pre-tax profits to £2.3bn for the year to the end of March.
Continue reading...Tie-up between parent groups Liberty Global and Telefonica aim to take on BT and Sky
The owners of Virgin Media and O2 have confirmed a £31bn merger to create a new “national champion” to challenge BT and Sky in the UK.
Liberty Global, which owns the UK’s largest cable company Virgin, and Telefonica, which owns Britain’s biggest mobile operator O2, are to be merged in a new 50-50 joint venture.
Continue reading...Competition and Markets Authority’s ‘absurd’ decision fails to take account of coronavirus fallout, chain says
JD Sports Fashion has criticised the competition watchdog for paving the way for potential job losses after the retailer was blocked from merging with a struggling rival, Footasylum.
Peter Cowgill, the executive chairman of the UK’s largest sports retailer, said the company “fundamentally disagreed” with the Competition and Markets Authority’s decision, which was “absurd” in the light of the high street’s struggles.
Related: JD Sports stops paying rent to landlords
Continue reading...Owners of telecoms giants set to team up and challenge major sector players
The owners of Virgin Media and O2 are in talks to create a new TV and mobile power player to challenge BT and Sky in the UK.
Billionaire John Malone’s Liberty Global, which owns Virgin Media and a 10% stake in ITV, is understood to be in talks with Spanish telecoms giant Telefonica to combine their UK assets in a joint venture.
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