TalkTalk: Will a go-private deal ring the changes for the troubled telecoms firm? October 8, 2020 TalkTalk announced earlier today it had received a takeover bid from investment management firm Toscafund. The offer paves the way for a go-private deal for the London-based telecoms group. Investors reacted positively to the news, with shares in the company rising more than 19 per cent. The bid came as little surprise to analysts, who [...]
Competition watchdog requests probe into Virgin-O2 merger October 8, 2020 The UK competition watchdog has asked the EU to refer the planned tie-up between O2 and Virgin for a full investigation in Britain. O2’s owner Telefonica in May confirmed plans for a £31bn mega-merger with Virgin Media, owned by Liberty Global. The proposed deal falls under the remit of the European Commission to review, but [...]
Huawei: ‘Clear evidence’ of collusion with Beijing, MPs warn October 8, 2020 There is “clear evidence of collusion” between Chinese tech giant Huawei and authorities in Beijing, top MPs have warned. In a report published today parliament’s defence committee claimed Huawei was “closely linked” to the Chinese state and the Communist Party. It also cited concerns about Huawei’s receipt of state subsidies and Chinese intelligence laws that [...]
Talk Talk shares leap as Toscafund makes buyout offer October 8, 2020 Shares in Talk Talk leapt 16.5 per cent after the telecoms firm revealed that it had received a buyout offer from asset manager Toscafund. The offer, which prices the internet operator at 97p per share, comes with a number of conditions attached, including the support of chairman Sir Charles Dunstone. The deal values the firm [...]
Beyond Imagination: What’s next for the scandal-hit British chipmaker? October 7, 2020 Imagination Technologies this week confirmed the appointment of telecoms veteran Simon Beresford-Wylie as its next chief executive, marking a new chapter for the British chipmaker. The Hertfordshire-based tech firm has been no stranger to scandal in recent months, with MPs lashing out at the company’s ties to a major investor linked to the Chinese state. [...]
Government ‘likely to miss’ 2025 full-fibre broadband target October 7, 2020 The government’s promise to provide full-fibre broadband to every home in the UK by 2025 is likely to be missed without sweeping reforms of telecoms policy, according to a new report. Prime Minister Boris Johnson made “levelling up” the country’s broadband provision a key part of his election manifesto and last year pledged £5bn to [...]
Swedish telecoms giant Telia sells international carrier business for $1bn October 6, 2020 Swedish telecoms group Telia Company today said it has agreed to sell its international carrier business to infrastructure firm Polhem Infra for 9.5bn Swedish krona ($1.1bn). Telia, which is led by British media veteran Allison Kirkby, said it has simultaneously entered into a long-term partnership with its carrier division to ensure continued network provision for [...]
Internet is an essential — so why is it still taxed as a luxury? October 6, 2020 One in nine people, the equivalent of six million across the UK, have reported falling behind on household bills because of coronavirus. While the chancellor has worked hard to protect jobs and offer targeted support, there can be no doubt that those already suffering financial hardship have faced disproportionate new challenges over the past six [...]
5G rollout across Britain set to create 5,000 jobs October 5, 2020 Telecoms firms have pledged to create 5,000 new UK jobs through the rollout of 5G technology across Britain, marking a rare bright spot on the bleak jobs horizon during the pandemic. Liberty Global, which owns Virgin Media, and O2’s Spanish owner Telefonica, have announced plans to create 4,000 jobs and 1,000 apprenticeship roles in the [...]
The UK can’t afford to delay a vital 5G rollout October 1, 2020 Making Britain more competitive requires investment in digital infrastructure – especially 5G The Government set itself a mighty task in announcing its determination to ‘level up’ the British economy last year. But that challenge has become all the harder in recent months. Growth in economically disadvantaged areas was already keenly sought but the impact of [...]