Drahi raises BT stake but rules out bid

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If available BT Shareholders who wanted a quick bid for the group after negotiations to buy Reliance Industries did nothing last month. Patrick Dry I dashed them this morning.

6 months lockup to prevent millionaires Altice UK From the telecom group bid Expired on weekends.. This morning he raised his stake from 12.1 percent to 18 percent. However, he also repeated that he did not intend to make a takeover offer for the company and started the watch with a stagnation of another six months.

“We have been” constructively involved “in the board and management in recent months,” said Dry. “We look forward to continuing that dialogue.” He said he “fully supports their strategy,” especially in BT’s full-fiber program.

Check out if you need a summary of BT’s bid talk, and why it’s probably wishful thinking. This column From a colleague Helen Thomas..If you disagree, please tell me the reason citybulletin@ft.com..

FT is currently experimenting with a short audio digest of the day’s top headlines. click here Check the details.

Simply put

UK employment data I will draw a familiar picture this morning. A record number of unfilled vacant seats with more than 1.2 million jobs, the number of salary employees currently above pre-pandemic levels by 424,000 as the economy recovers. The unemployment rate was slightly higher than before March 2020, but fell to 4.2% in the three months to October, despite the termination of the furlough system. Annual salary growth for the quarter was 4.9%.

Rentokil Initial Usually known for small roll-up transactions, we announced a large transaction today. The pest control and cleaning business with a market capitalization of £ 11.6 billion has acquired the US group Terminix in a cash and equity transaction with a target of $ 6.7 billion. Rentokil will issue 643 million new shares to fund the transaction.

Ocado retail, Joint venture with Ocado Marks & SpencerReported a decline in earnings in the last quarter as a labor shortage restrained sales growth. The number of customer orders increased, but the value of each order declined as customers returned to their pre-pandemic shopping habits. Ocado Retail said its 2021 results are in line with the guidance and that by expanding capacity, the Group expects to return to “mid-teens revenue growth” next year. However, he warned that profit margins would decline during the “significant investment year” of 2022.

Apart from this, yesterday the judge Ocado In a patent dispute with AutoStore alleging that a British group infringed its IP.

Beyond square miles

China mobileThe world’s largest telecommunications company with subscribers, has been approved by regulatory agencies to list. Shanghai A few months after delisting from New York following the imposition of U.S. sanctions.. William Langley Report How will this move align the Hong Kong-listed company with the state’s goal of promoting domestic ownership of national champions?

NSO Group, Israeli spyware maker is considering selling the company or closing the controversial company Pegasus unit, Report of our correspondent.. The company has approached a $ 500 million loan default after being blacklisted by the US government last month. NSO Group is also considering turning Pegasus into a “defensive” product. The move the company estimates could raise as much as $ 200 million from U.S.-based investors, but how can NSO or the Israeli government guarantee that spyware will only be used defensively? I’m not sure. ..

Apple Faced with an investigation into whether it was retaliation against Whistleblower We complain of harassment and dangerous working conditions in the workplace Report of correspondents from San Francisco and New York.. An investigation by the US Department of Labor follows a claim by a senior engineering program manager who was dismissed in September for leaking sensitive information. Ashley Gjovik claimed she was dismissed with a false excuse following numerous complaints that led to more than 12 cases of retaliation, including work reassignments.

My choice for the day was Elaine Moore, Rex Deputy Editor-in-Chief is usually San FranciscoWho writes about the rise of App Providing relief from Screen time stress.. Mindfulness Start-ups seem to be a good solution to the problems created by the technology sector. But she argues that they are good for employers, not necessarily good for employees. “Online meditation is not a cure-everything for situations where better salary or careful management would be more helpful.”

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Drahi raises BT stake but rules out bid Source link Drahi raises BT stake but rules out bid

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