UK media and telecoms correspondent
Kate's Feed
May 20, 2014

Vodafone calls on India’s Modi to show open stance with tax talks

LONDON/NEW DELHI, May 20 (Reuters) – Vodafone boss
Vittorio Colao has challenged India’s new government to back up
its pro-business credentials by resolving the telecoms group’s
long-running tax dispute in the country.

The British company became India’s largest overseas
corporate investor when it acquired Hutchison Whampoa’s
Indian mobile assets in 2007 as part of its strategy
of chasing growth in emerging markets.

May 20, 2014

Vodafone sees 2015 earnings hit by network investment

LONDON, May 20 (Reuters) – Britain’s Vodafone said
next year’s earnings would be hit by vital investment in its
network, as it reported a 6.6 billion-pound dent to its 2014
results from writing down the value of European operations
struggling in a tough market.

The world’s second-largest mobile operator has reported
record falls in underlying revenue in the last 18 months, due to
fierce competition, regulator-imposed price cuts and European
consumers reducing the number of calls they make to save money.

May 19, 2014

UK takeover rules block higher Pfizer offer before Astra deadline

LONDON (Reuters) – U.S. drugmaker Pfizer has left itself no room to return with a higher offer for AstraZeneca before a deadline expires next Monday due to Britain’s strict takeover rules, even if the British firm wanted it to, experts say.

Astra, Britain’s second largest drugmaker, rejected Pfizer’s fourth and “final” offer on Monday, just hours after receiving it, saying the $118 billion proposal still undervalued the firm.

May 14, 2014

MPs give Pfizer stick as it waves carrot at AstraZeneca

LONDON (Reuters) – U.S. drugmaker Pfizer hinted it could raise its proposed $106 billion (62.9 billion pounds) offer if AstraZeneca would only engage in talks, as its boss was grilled by MPs on his commitment to British research spending and jobs.

In response AstraZeneca said it would have to consider a compelling offer but accused Pfizer of an “opportunistic” proposal and a ploy to cut taxes that risked its reputation.

May 13, 2014

UK lawmakers give Pfizer stick as it waves carrot at AstraZeneca

LONDON (Reuters) – U.S. drugmaker Pfizer hinted it could raise its proposed $106 billion offer if AstraZeneca would only engage in talks, as its boss was grilled by UK lawmakers on his commitment to British research spending and jobs.

In response AstraZeneca said it would have to consider a compelling offer but accused Pfizer of an “opportunistic” proposal and a ploy to cut taxes that risked its reputation.

May 13, 2014

Pfizer urges AstraZeneca to talk as MPs slam offer

LONDON (Reuters) – U.S. drugmaker Pfizer suggested it could raise its proposed $106 billion (62.9 billion pounds) offer if AstraZeneca engaged in talks, as its boss was grilled by MPs on his commitment to British research spending and jobs.

The New York-based group said it was disappointed by AstraZeneca’s refusal to discuss its proposed merger. Chief Executive Ian Read did not rule out a hostile bid, telling a parliamentary committee he had various “options” for his next move.

May 13, 2014

Pfizer urges AstraZeneca to talk as UK lawmakers slam offer

LONDON (Reuters) – U.S. drugmaker Pfizer suggested it could raise its proposed $106 billion offer if AstraZeneca engaged in talks, as its boss was grilled by UK lawmakers on his commitment to British research spending and jobs.

The New York-based group said it was disappointed by AstraZeneca’s refusal to discuss its proposed merger. Chief Executive Ian Read did not rule out a hostile bid, telling a parliamentary committee he had various “options” for his next move.

May 8, 2014

EU likely to block any UK intervention in AstraZeneca bid: lawyers

LONDON (Reuters) – The European Commission would probably block any attempt by the British government to intervene in Pfizer’s (PFE.N: Quote, Profile, Research, Stock Buzz) proposed takeover of AstraZeneca (AZN.L: Quote, Profile, Research, Stock Buzz) as Brussels itself would rule on a deal of that size, competition lawyers say.

AstraZeneca has rejected the $106 billion bid to create the world’s largest pharmaceuticals business. However, Pfizer is still pursuing its British rival, and political pressure is growing on Prime Minister David Cameron to show he can protect jobs should the New York-based company prevail.

May 8, 2014

Demand for broadband lifts BT to strong full-year results

LONDON, May 8 (Reuters) – Strong demand for fibre broadband
and television helped Britain’s BT Group Plc to report
higher-than-expected full-year results and give a bullish
outlook on Thursday, sending its shares up more than 3 percent.

The 168-year-old former state telecoms monopoly said it
would increase its payouts to shareholders and forecast earnings
growth this year and next, signaling it has fully recovered from
two major profit warnings that hit the group in 2008 and 2009.

May 7, 2014

Cameron tells Pfizer wants more commitments for AstraZeneca deal

LONDON (Reuters) – Prime Minister David Cameron demanded U.S. drugmaker Pfizer give stronger guarantees it will keep jobs and investment in Britain in order to secure his government’s blessing for a takeover of AstraZeneca.

By proposing the biggest ever foreign takeover of a British firm, New York-based Pfizer has sparked fierce debate on whether the government should let outsiders buy a pharmaceuticals group seen as a national champion in a strategically vital industry.

    • 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."
    • Follow Kate