Poundland-99p Stores tie-up threatened by Competition and Markets Authority April 9, 2015 Poundland's offer to buy rival 99p Stores for £55m is facing an in-depth investigation by the competition watchdog, amid concerns reduced competition will lead to reduced quality, fewer promotions and store closures. The Competition and Markets Authority (CMA) said it believes the tie-up could create "a realistic prospect of less competition" in 80 local areas – [...]
BT names the date for EE vote April 1, 2015 BT shareholders will be asked to approve the £12.5bn acquisition of mobile network EE at a general meeting on 30 April. Shareholders are being invited to the meeting at Old Billingsgate at 10am. A simple majority is all that is required for the takeover to go ahead, although it is still subject to heavy scrutiny [...]
BT sets date for shareholder vote on EE deal as board member stands down April 1, 2015 The date has been set for BT shareholders to approve the £12.5bn acquisition of mobile network EE. Shareholders are being invited to a general meeting at Old Billingsgate on April 30, at 10am. Circulars are currently being sent out to relevant parties. Proxy forms are due by April 28 for those not attending the [...]
Is UK online fashion retailer Net-a-Porter about to be bought by Amazon? March 27, 2015 Is Amazon planning to get into high-end fashion retailing? The US tech giant is reportedly in talks to acquire Net-a-Porter, the British online luxury fashion retailer. It would be a bold move for Amazon, which already has clothing categories on its site – although many of the listings tend to feature the word "polyester". According [...]
Watchdog launches probe into fashion March 26, 2015 THE COMPETITION and Markets Authority (CMA) yesterday opened an investigation into dominance in the fashion, clothing and footwear markets. They will decide whether to proceed in October. Shares in Burberry, Next and Debenhams closed down yesterday.
It’s high time Britain faced up to the risks of radical devolution of power March 25, 2015 In all the sound and fury of the coming election, it’s important not to forget the areas where the parties agree. This includes support for much greater “localism” and devolution of power from central government – and not just to Scotland. One example is George Osborne’s support for an elected Manchester “super mayor”, a move [...]
Kingfisher bid for rival Mr Bricolage has suffered a setback March 24, 2015 Europe's biggest home improvement retailer Kingfisher suffered a setback to its bid for rival Mr Bricolage. The B&Q owner, which makes about half of its annual profit in France, said the board of Mr Bricolage and franchisee group ANPF, a major shareholder of the company, have reservations about the takeover deal and are yet to receive clarification [...]
Dairy Crest sale of milk business to Muller referred back to UK watchdog March 23, 2015 Dairy Crest Group said yesterday that it was still on track to sell its dairy operations after being referred back to the UK Competition and Markets Authority (CMA) yesterday by the European Commission for review. The company behind Cathedral City cheese and Frijj milkshakes is in the process of selling its loss-making liquid milk business [...]
CityFibre asks watchdog to level playing field after BT-EE merger March 23, 2015 High speed fibre optic firm CityFibre has attacked BT, saying its planned acquisition of EE would “stifle innovation” and “deliver little tangible benefit for consumers”. CityFibre revealed the objection this morning, saying that it submitted a formal complaint to the Competition Markets Authority (CMA) on Friday. The company demanded Ofcom be allowed to enforce extra [...]
Budget 2015: A quick guide to all the key measures March 18, 2015 Chancellor delivers good news for savers and first-time buyers as he turns up heat on banks in play for votes ahead of election. UK ECONOMIC OUTLOOK ● The UK was the fastest growing economy in the G7 last year. However, the economy grew by just 0.5 per cent in the final three months of 2014, [...]