UK media and telecoms correspondent
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Apr 25, 2013

Exclusive: Verizon eyes $100 billion bid for Vodafone’s Wireless stake

NEW YORK/LONDON (Reuters) – Verizon Communications has hired advisers to prepare a possible $100 billion bid to take full control of Verizon Wireless from its partner Vodafone, two people familiar with the matter said.

The two sources said Verizon was considering a 50:50 cash and stock bid for the 45 percent stake it does not already own, an asset it has long coveted but that Vodafone will take some persuading to give up. It has not put a proposal to Vodafone yet but has hired both banking and legal advisers for a possible offer, the sources said.

Apr 25, 2013

Verizon eyes $100 bln bid for Vodafone’s Wireless stake

NEW YORK/LONDON, April 25 (Reuters) – Verizon Communications
has hired advisers to prepare a possible $100 billion bid
to take full control of Verizon Wireless from its partner
Vodafone, two people familiar with the matter said.

The two sources said Verizon was considering a 50:50 cash
and stock bid for the 45 percent stake it does not already own,
an asset it has long coveted but that Vodafone will take some
persuading to give up. It has not put a proposal to Vodafone yet
but has hired both banking and legal advisers for a possible
offer, the sources said.

Apr 23, 2013

Publicis to consider cash return by year end

LONDON (Reuters) – Advertising group Publicis could return cash to shareholders this year via a share buyback or special dividend by sticking to a plan of only making small acquisitions, its chief executive said.

Speaking to Reuters during an investor event eight days after a trading update rattled the market, Maurice Levy said he was confident shareholders would keep faith in the French group’s ability to improve as the year goes on.

Apr 23, 2013

EE’s 4G headstart fails to stem service revenue fall

LONDON, April 23 (Reuters) – EE, Britain’s biggest mobile
operator, posted a fall in first- quarter service revenue as the
addition of 318,000 customers to its new superfast 4G service
failed to offset a fall in its wider subscriber base.

EE, giving 4G subscriber numbers for the first time since it
stole a march on rivals by being first into the market, said
customer loyalty overall remained strong and the amount each
user was paying had increased year-on-year.

Apr 18, 2013

Vodafone moves towards US-style pricing model

LONDON, April 18 (Reuters) – Vodafone unveiled a
raft of changes to its pricing model on Thursday, moving more
towards an American-style system to help protect its income from
technologies offering rival services over the Internet.

The changes are designed to deter customers from choosing
popular “over-the-top” services such as Skype, What’s App and
Viber to message friends for free.

Apr 17, 2013

Tesco quits U.S. and takes $3.5 bln global writedown

LONDON, April 17 (Reuters) – Britain’s biggest retailer,
Tesco, wrote down the value of its global operations by
$3.5 billion and announced plans to exit the United States, as
it sought to rebuild after a year in which profit fell for the
first time in two decades.

The group, the world’s third largest retailer after Wal-Mart
and Carrefour, said on Wednesday abandoning
loss-making Fresh & Easy in the U.S. would mean restructuring
and other one-off costs of 1 billion pounds ($1.5 billion).

Apr 17, 2013

Tesco quits U.S. as profits fall for first time in 20 years

LONDON (Reuters) – Tesco, Britain’s biggest retailer, will exit its loss-making business in the United States, taking a $1.5 billion writeoff that caused its annual profit to fall for the first time in 20 years.

The group also wrote down the value of its property in Britain by 800 million pounds and its businesses in Poland, Czech Republic and Turkey by half a billion pounds and said growth in its core home market had slowed despite huge investment.

Apr 9, 2013

“Iron Lady” Thatcher mourned, but opponents celebrate

LONDON (Reuters) – Admirers of Margaret Thatcher on Tuesday mourned the “Iron Lady” who as Britain’s longest serving prime minister in over a century pitched free-market capitalism as the only medicine for her country’s crippled economy and the crumbling Soviet bloc.

World leaders past and present, from Soviet leader Mikhail Gorbachev to U.S. President Barack Obama, led tributes the grocer’s daughter who sought to arrest Britain’s decline and helped Ronald Reagan broker an end to the Cold War.

Apr 9, 2013

“Iron Lady” Thatcher mourned, but critics speak out

LONDON (Reuters) – Britain and admirers worldwide are mourning Margaret Thatcher, who has died aged 87, as the “Iron Lady” who rolled back the state and faced down her enemies during 11 years as Britain’s first woman prime minister.

Her impact on the 1980s was such that opponents, including Labour’s Tony Blair and Soviet leader Mikhail Gorbachev, led tributes to a legacy that radically transformed the British economy along free-market lines now widely taken for granted and includes her role in the peaceful end to the Cold War.

Apr 9, 2013

Factory rebound, energy use boost UK industry

LONDON (Reuters) – British industrial output rose much more than expected in February, driven by a rebound in manufacturing and higher demand for energy during the unusually cold month, official data showed on Tuesday.

The improvement in industry, which late last year was the main drag on the economy, allays fears of another economic contraction in the January-March period, which would tip Britain into its third recession in less than five years.

    • About Kate

      "I am based in London and cover the UK media and telecoms sectors including BSkyB, Vodafone and WPP. I have previously covered UK general news and sports including major events such as the Olympics and football World Cups."
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