Three warns of 5G threat after £2bn mobile mast merger makes new ‘monopoly’ October 27, 2019 Mobile operator Three has issued a stark warning over a £2bn mobile masts mega-merger, warning the deal could pose a threat to the UK’s 5G rollout. Earlier this month Spanish infrastructure giant Cellnex struck an agreement to buy the telecoms division of British firm Arqiva, making it the largest mast operator in the UK. Read [...]
Water giants on collision course with Ofwat ahead of crunch ruling October 27, 2019 Some of the water industry’s most prominent investors are said to have complained to the Treasury that regulator Ofwat is becoming politicised. Investors that control suppliers including Anglian, Yorkshire, Affinity, South East and South Staffs reportedly met with officials this month, in a bid to pre-empt Ofwat’s final publication of its financial demands for the [...]
Payday lender Quickquid lines up administrators October 24, 2019 Quickquid is on the brink of collapsing into administration following a crack down on pay day lenders. Cash Euro Net UK, which trades under the name Quickquid, has lined up Grant Thornton as administrator as it prepares for a potential insolvency process, which could be launched in the next few days, Sky News reported. Read [...]
Schroders to take charge of Woodford Patient Capital Trust October 24, 2019 Schroders will take charge of the embattled Woodford Patient Capital Trust (WPCT) after former star stockpicker Neil Woodford’s abrupt departure last week. Shares in WPCT surged over 28 per cent in morning trading following the news. Read more: DEBATE: Can Neil Woodford’s reputation ever recover? Woodford’s fall from grace was cemented last week when he [...]
Competition watchdog to examine £500m Ovo Energy-SSE deal October 24, 2019 The Competition and Markets Authority (CMA) said today it was looking into whether Ovo Energy’s £500m acquisition of energy supplier SSE’s retail arm will harm competition. SSE’s retail energy business supplies around 3.5m households in the UK. The watchdog said it was inviting comments on the transaction from interested parties until 6 November. Alistair Phillips-Davies, [...]
Treasury watchdog has huge task ahead October 24, 2019 Westminster isn’t a happy place these days. MPs leave under police escort while protesters from both sides of the Brexit stalemate berate them; conventions in parliament are tested almost to destruction by the Speaker and ministers alike; a domestic legislative agenda exists only on paper; the government cannot govern and the opposition demand an election [...]
CMA fines concrete cartel £36m for pushing up prices for seven years October 23, 2019 A concrete cartel must pay a £36m fine for breaking competition law for almost seven years. The Competition and Markets Authority (CMA) has ordered three firms to cough up after fixing prices between July 2006 to March 2013. Read more: Audit watchdog calls on firms to improve reporting on climate change They also shared the [...]
Is oil’s relationship with energy stocks slipping? October 21, 2019 Our chart of the month shows that the link between energy stocks and oil appears to be on the slide. What’s happening? Typically, the US energy sector trades in tandem with oil prices. The sector is largely made up of household names like Exxon and Chevron, involved in exploration and production. They are known as [...]
Value of deals taking UK-listed firms private trebles October 21, 2019 The value of private equity (PE) deals taking UK-listed companies private has more than trebled over the past year, as the valuation premium of listed companies compared to private firms narrows. The total valuation of deals taking UK-listed firms off the stock market more than trebled in 2018/19 to £14bn, according to new research by [...]
These are the London boroughs where first-time buyers are getting the biggest discounts October 18, 2019 Recent reports of lagging London house prices have generally been met with a groan, as the mortgaged majority fret over the value of their property investment. This is not the case for would-be first-time buyers, though, who might find that they can snap up a home for less than they initially expected, or be able [...]