BT Group shares slumped as much as 8% on a report that Sky would invest in Virgin Media O2's broadband plans.
BT Group shares slumped as much as 8% on a report that Sky would invest in Virgin Media O2’s broadband plans.
BT Group BT.A, -5.19% fell as the Sunday Telegraph said Sky is closing on on a deal to back the fiber rollout, a threat to BT’s Openreach. Virgin Media O2 is a venture between Liberty Global LBTYA, -2.99% and Telefonica TEF, +0.53%, and Sky is owned by Comcast CMCSA, +2.29%. Analysts at UBS say a fiber JV/cable wholesale combined could add more than £300 million of EBITDA to VMO2 and was worth more than $3.5/Liberty Global share. The same analysis said BT could lose over £600 million of “very high margin” revenue or some 30 pence per BT share.Broader European stock markets saw little movement in afternoon trade.
U.K. supermarket chains including J Sainsbury SBRY, +3.66% rose after the weekend auction for Wm. Morrison MRW, -3.74%, which saw Clayton, Dubilier & Rice, submit the winning bid with a 287 pence per share, or £7.1 billion offer.
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BT expects Sky to be a core partner in fibre - sourceBT expects Sky to remain a major wholesale partner for its full fibre network build, after a media report said the pay-TV group was set to back Virgin Media O2's fibre rollout, a person familiar with the situation said.
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BT expects Sky to be a core partner in fibre - sourceBT expects Sky to remain a major wholesale partner for its full fibre network build, after a media report said the pay-TV group was set to back Virgin Media O2's fibre rollout, a person familiar with the situation said.
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Sainsbury’s shares rise on market speculation after private equity swoops for rival MorrisonsShares of British grocery chain Sainsbury's rose Monday after U.S. private equity firm Clayton, Dubilier & Rice narrowly won an auction for domestic rival Morrisons.
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Inflation and Evergrande keep world shares on back footWorld stocks were on the back foot on Monday and the dollar stayed close to one-year highs on concerns that higher inflation, supply shortages and China's property sector problems would put global economic recovery at risk.
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BTS Announce Four LA Concerts at SoFi StadiumBTS are returning to Los Angeles for a mini-residency at the brand-new SoFi Stadium.
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