Advertisement
UK markets close in 59 minutes

  • FTSE 100

    7,813.62
    -151.91 (-1.91%)
     

  • FTSE 250

    19,356.82
    -342.07 (-1.74%)
     

  • AIM

    739.82
    -10.46 (-1.39%)
     

  • GBP/EUR

    1.1705
    -0.0005 (-0.05%)
     

  • GBP/USD

    1.2447
    +0.0000 (+0.00%)
     

  • Bitcoin GBP

    50,262.93
    -2,247.21 (-4.28%)
     

  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

  • S&P 500

    5,049.29
    -12.53 (-0.25%)
     

  • DOW

    37,802.57
    +67.46 (+0.18%)
     

  • CRUDE OIL

    85.07
    -0.34 (-0.40%)
     

  • GOLD FUTURES

    2,384.90
    +1.90 (+0.08%)
     

  • NIKKEI 225

    38,471.20
    -761.60 (-1.94%)
     

  • HANG SENG

    16,248.97
    -351.49 (-2.12%)
     

  • DAX

    17,794.17
    -232.41 (-1.29%)
     

  • CAC 40

    7,941.25
    -103.86 (-1.29%)
     
Money:

How to avoid tax creep in retirement

The state pension went up 8.5% in April, but frozen thresholds mean pensioners will be paying more tax

French hotel group Accor in talks to buy Canada's FRHI -WSJ

Reuters - UK Focus

Oct (HKSE: 3366-OL.HK - news) 29 (Reuters) - Europe's largest hotel group Accor SA is planning to buy Canada-based FRHI Hotels & Resorts for about $3 billion, The Wall Street Journal reported on Thursday, citing sources.

The deal, which could be announced as early as next month, could still fall apart as the hotel giants did not reach any agreement yet, the newspaper said. (http://on.wsj.com/1MXwKze)

FRHI, which operates luxury hotel brands like Fairmont, Raffles and Swisshotel, hired Deutsche Bank (Other OTC: DBAGF - news) and Morgan Stanley (Xetra: 885836 - news) to estimate the market value of the company, The WSJ said.

Accor Hotels, which competes with InterContinental, Marriott and Starwood is undergoing a reorganization under CEO Sebastien Bazin who took the top post two years ago.

ADVERTISEMENT

The hotel is also regarded as the "preferred bidder" of four finalists for FRHI, the newspaper said.

Accor (EUREX: 485822.EX - news) and FRHI could not be reached immediately for a comment outside regular business hours. (Reporting by Rishika Sadam in Bengaluru; editing by Grant McCool)