Inmarsat bidders look to appease government ahead of $3.4bn takeover July 18, 2019 The private equity firms behind a $3.4bn (£2.6bn) bid for Inmarsat have agreed a number of undertakings with the government over the future of the satellite firm’s UK operations. Read more: Competition watchdog to probe $3.4bn Inmarsat takeover The consortium, led by Apax Partners and Warburg Pincus, said it will guarantee that the majority of [...]
Competition watchdog urges Facebook and Ebay to crack down on fake review market June 21, 2019 The competition watchdog has called on Facebook and Ebay to step up their efforts to prevent the sale of fake reviews through their sites. The Competition and Markets Authority (CMA) today wrote to the two platforms asking them to conduct a review amid concerns there is a “thriving” marketplace for fake and misleading online reviews. [...]
Satellite firm Inmarsat ditches dividend ahead of $3.4bn private equity takeover August 1, 2019 Satellite company Inmarsat ditched its dividend today despite narrowing losses. The UK firm said it was not declaring an interim dividend, having declared a dividend of eight cents per share in the same period last year. The company said it was cutting its dividend in the light of the announcement of its proposed $3.4bn (£2.8bn) [...]
Competition watchdog launches probe into tech giants over digital advertising dominance July 3, 2019 The competition watchdog has launched an inquiry into major tech firms amid fears about their dominance in the digital advertising market. The Competition and Markets Authority (CMA) today said it has launched a market study into online platforms such as Facebook and Google, which are funded almost entirely by digital advertising. Read more: Hammond calls [...]
Thames Water hires advisers on £12bn debt ahead of crucial Ofwat ruling December 14, 2019 Thames Water has hired restructuring experts from Gleacher Shacklock ahead of a crucial ruling from industry watchdog Ofwat. The UK’s biggest water supplier has called in the experts to advice on its £12bn pile of debt amid concern about the impact of a regulatory crackdown on its finances, according to Sky News. Read more: Thames [...]
Facebook ‘still flooded with fake reviews’ despite regulator warning August 6, 2019 Facebook is failing to crack down on a “thriving” marketplace of fake reviews on its website, despite being told by regulators to tackle the problem, a new investigation has revealed. Consumer group Which found dozens of groups on the social media site that recruit people to write fake reviews on ecommerce sites such as Amazon [...]
Competition watchdog kicks off probe into JD Sports’ Footasylum acquisition July 24, 2019 The competition watchdog has kicked off its probe into JD Sports’ acquisition of Footasylum. JD Sports bought the remaining shares in the footwear retailer in a deal worth £90m in March this year, with shareholders approving the sale the following month. Read more: JD Sports on track to meet profit expectations However, the Competition and [...]
Soros hedge fund bets £16m against Daily Mail owner shares December 12, 2019 The hedge fund of billionaire investor George Soros has taken out a £16m short position against media group Daily Mail and General Trust (DMGT), which owns the Daily Mail. The London arm of Soros Fund Management, SFM UK Management, made a bet worth 0.9 per cent of DMGT’s shares, showed filings published by the Financial [...]
Paddy Power owner Flutter’s profit falls on UK tax blow February 27, 2020 Betfair and Paddy Power owner Flutter posted tumbling 2019 profit today as UK gaming taxes and the firm’s increased investment in the US both took their toll. The figures Profit before tax plunged 38 per cent year on year to £136m despite a 14 per cent hike in revenue to £2.14bn. Earnings per share also [...]
Competition and Markets Authority approves £1.4bn Unite Students acquisition of Liberty Living November 6, 2019 The UK competition watchdog has approved the £1.4bn acquisition of student accommodation provider Liberty Living by rival firm Unite Students. The Competition and Markets Authority announced today that it has decided not to escalate its investigation into the merger to a stage two inquiry after seeking comment from interested parties on whether the take over [...]