Financial News

ITV in talks with US sports tycoon Kroenke over sale of Arsenal stake - report LONDON (AFX) - ITV PLC, the UK's biggest commercial television broadcaster, is in talks with US sports tycoon Stan Kroenke over the sale of its 9.9 pct stake in Premiership football club Arsenal, the Sunday Times reported without citing sources. The report comes amid persistent speculation of a possible takeover bid  ...

LONDON (AFX) - UK housebuilders George Wimpey and Taylor Woodrow are to merge, creating a transatlantic property group valued at 5 bln stg, Sunday newspapers reported without citing sources. The two groups are expected to agree final details of the deal this weekend, and will announce the tie-up to the London Stock Exchange tomorrow, according to the Sunday Times and the Sunday Telegraph. The pa ...

Simon Watkins, Financial Mail25 March 2007 The biggest cross-border banking deal Europe has ever seen could transform the industry in Britain. But is Barclays' audacious £80bn plan to merge with Dutch bank ABN Amro all because its boss wants to impress the in-laws? BRITISH BULLDOG: John Varley is trying to curb the US influence at the bank WANT TO KNOW MORE? DATA: Banks' share prices REPORT: Barclays-ABN race to do a deal BANKING: Advice & Tips OTHER STORIES  ...

Andrew Foxwell, Financial Mail25 March 2007 Private equity house 3i has started the process of selling its stake in Smart & Cook, one of Britain's largest insurance brokers. OTHER STORIES Housebuilder merger creates £5bn giant Market report: Friday close Yesterday's trading: Virgin eyeing Pipex Norwich Union's Indian disaster BA ready for Spanish raid BUDGET ROUND ...

Simon Fluendy, Financial Mail25 March 2007 Virgin Media is hot favourite to buy broadband company Pipex for about £470m, with a deal possible this week. WANT TO KNOW MORE? Can I cancel Virgin TV deal? BLOG: Viewers lose in Sky row OTHER STORIES Housebuilder merger creates £5bn giant Market report: Friday close Yesterday's trading: Virgin eyeing Pipex Norwich Union's  ...

Helia Ebrahimi, Financial Mail25 March 2007 Whitbread is in early talks about a near-£1bn sale of its David Lloyd Leisure arm to the son of the fitness chain's founder. OTHER STORIES Housebuilder merger creates £5bn giant Market report: Friday close Yesterday's trading: Virgin eyeing Pipex Norwich Union's Indian disaster BA ready for Spanish raid BUDGET ROUND-UP ...

Alexandra Walden, Financial Mail25 March 2007 Taylor Woodrow and George Wimpey are this week expected to announce a £5bn merger, creating Britain's biggest housebuilder and firing the new group into the FTSE 100 index. MEGA BUILDER: The deal will create the UK's largest builder WANT TO KNOW MORE? DATA: Housebuilder shares READER SERVICE: Share dealing DEAL FINDER: Mortgages OTHER STORIES Market report: Friday close Yesterday's trading: Virgin eyeing Pipex Sai ...

FRANKFURT (XFN-ASIA) - Porsche AG said Saturday it intends to raise its stake in Volkswagen AG to a level which would automatically trigger a takeover bid. Porsche said it would increase its share in Europe's biggest carmaker to up to 31 pct from its current level of 27.3 pct. Under German law, a 30 pct stake in a company obliges the holder to make a full takeover bid. But a Porsche spokesman s ...

FRANKFURT (AFX) - German shares sprang to life in afternoon trade after US home sales positively surprised investors and temporarily boosted DAX futures by 50 points, dealers said. At 4.02 pm, the DAX was 22.52 points or 0.33 pct higher at 6,879.48 after trading between 6,828.22 and 6,892.62 throughout the day. The MDAX gained 37.00 points or 0.37 pct to 10,102.11 while the TecDAX was flat, up 0 ...

LONDON (AFX) - Acquisitive British companies have fuelled a boom in cross-border takeovers and mergers over the past three months, according to a survey by Thomson Financial. UK companies spent a total of 64 bln usd (32.5 bln stg) on overseas mergers and acquisitions in the first quarter of 2007, an increase of 174 pct compared with the same period last year, Thomson said. UK cigarette firm Impe ...