UK markets close in 4 hours 4 minutes

  • FTSE 100

    7,362.40
    -137.20 (-1.83%)
     

  • FTSE 250

    18,421.95
    -308.01 (-1.64%)
     

  • AIM

    798.74
    -8.70 (-1.08%)
     

  • GBP/EUR

    1.1371
    +0.0034 (+0.30%)
     

  • GBP/USD

    1.2213
    -0.0076 (-0.62%)
     

  • Bitcoin GBP

    22,948.40
    +270.33 (+1.19%)
     

  • CMC Crypto 200

    611.30
    +13.84 (+2.32%)
     

  • S&P 500

    3,948.72
    +11.75 (+0.30%)
     

  • DOW

    32,105.25
    +75.14 (+0.23%)
     

  • CRUDE OIL

    67.46
    -2.50 (-3.57%)
     

  • GOLD FUTURES

    1,996.50
    +0.60 (+0.03%)
     

  • NIKKEI 225

    27,385.25
    -34.36 (-0.13%)
     

  • HANG SENG

    19,915.68
    -133.96 (-0.67%)
     

  • DAX

    14,839.69
    -370.70 (-2.44%)
     

  • CAC 40

    6,974.61
    -164.64 (-2.31%)
     
Property:

Luxurious new rental properties to put on your radar

Build to rent developers are making flats that look like hotels

Italy's Wind Tre to spin-off network as it explores sale

Reuters
·1-min read

MILAN (Reuters) - Italian telecoms operator Wind Tre is planning to spin-off its network assets into a separate company as it resumed talks with Swedish private equity firm EQT over a potential sale, two sources familiar with the matter said.

Like other telecoms operators in Italy, Wind Tre has been grappling with aggressive price competition that has eroded earnings just when heavy investment is needed to build a fifth-generation mobile grid.

Wind Tre's infrastructure business mainly consists of a so-called active mobile network - or antennas - which are distributed across Italy, and what is known as the "backbone", a portion of the landline network.

Spinning off the network could pave the way to M&A deals, including a potential sale of the infrastructure business, the sources said, cautioning that deliberations are ongoing.

The move comes as Wind Tre has resumed talks with EQT over a potential deal for the Sweden-based investment fund to buy into Wind Tre's network.

Owned by CK Hutchison, the ports-to-telecoms arm of retired billionaire Li Ka-shing, Wind Tre would shift some 2,000 workers of its 6,500 workers in Italy into the network venture, the sources said.

Wind Tre, EQT and CK Hutchinson all declined to comment.

(Reporting by Elvira Pollina; Editing by Gavin Jones and Tom Hogue)

Latest stories

  • The areas of the UK that will have the cheapest energy bills next month

    Yahoo News explains why energy rates vary by region and which areas can expect to pay the most and least.

  • India Set to Surpass China in Need for Oil as Growth Paths Diverge

    (Bloomberg) -- A change is on the horizon for oil demand, with India set to eclipse China as the most important driver of global growth — and potentially the last, as the world shifts to a greener future.Most Read from BloombergJack Dorsey’s Block Vows to Fight Back After Hindenburg Says It’s Short the StockUBS Sends Khan to Stem Credit Suisse’s Private Banker ExitsJack Dorsey’s Wealth Tumbles $526 Million After Hindenburg ShortCredit Suisse, UBS Among Banks in DOJ Russia-Sanctions ProbeA swelli

  • China holds 'upper hand' in Russian gas exports

    A massive new gas pipeline to China could help reduce Russia's reliance on European buyers, but analysts say the project reveals a growing imbalance between the longtime strategic allies.Analysts say the lagging response shows an imbalance favouring Beijing in energy deals between the two countries -- as well as China's wariness of over-reliance on Russia for fuel.

  • Reselling marketplace Kream's valuation rises to $742M with $168M Series C

    In Asia, one such sector appears to be the luxury fashion resale market, particularly for platforms that are seeing an uptick in users and sales. Kream, a reselling platform that lets people buy, sell and trade luxury goods like handbags, clothing and accessories, has raised a $168 million (220.6 billion won) in a Series C round that values it at about $742 million, more than double its previous valuation of $306 million in October 2021. The new funding comes in the wake of a stellar couple of quarters at Kream: The company says its monthly active users have more than doubled to 5.3 million from 2.2 million last October, and its gross merchandise value shot up by 270% and 190% in Q3 and Q4, respectively, from a year earlier.

  • The EIA Is Dead Wrong About The Future Of U.S. Shale

    The EIA forecasted U.S. shale production to rise by 600,000 bpd this year, but with crude prices below $80 per barrel, production may not rise as expected

  • Missing part made my 2018 Jeep suddenly obsolete

    It just needed a new oil pump part but none could be found in the world

  • Tesla Fires First Shot In EV Price War

    In a bid to make EVs available to the masses, Tesla has fired the first shot in the EV price war in which other competitors like Volkswagen are also making big moves

  • How airlines are forecasting the summer travel demand amid rising demand, ticket prices

    Yahoo Finance columnist Vera Gibbons breaks down the rise in travel demand and details how it will effect summer airline prices.

  • Russia will become a 'Chinese resource colony' as the Xi Jinping-Vladimir Putin summit highlights economic dependence on Beijing

    "They will get gas from Power of Siberia. By the end of 2023, the yuan will be our main trade currency."

  • Azerbaijan Cements Its Position In Europe’s Green Energy Market

    Along with meeting domestic demand, Azerbaijan’s main goal in developing its green energy sector and expanding electricity production is to become a key exporter to Europe

  • A third of care homes in England have considered closing due to rising energy bills

    Care England says there is ‘no justification for charging such financially crippling rates’

  • Oil drops 1% as US in no rush to refill strategic reserve

    BENGALURU (Reuters) -Oil prices settled 1% lower on Thursday, reversing early gains after U.S. Energy Secretary Jennifer Granholm told lawmakers that refilling the country's Strategic Petroleum Reserve (SPR) may take several years. Granholm's comments fed worries about potential oversupply, especially as the Energy Department plans to proceed with an additional release of 26 million barrel as part of its congressional mandate, UBS analyst Giovanni Staunovo said. Brent crude futures fell by 78 cents, or 1%, to settle at $75.91 a barrel.

  • Exclusive-JPMorgan, Citi, BofA tell staff not to poach clients from stressed banks - memo, sources

    As a series of U.S. lenders were besieged by customers yanking out their money this month, banking behemoths including JPMorgan Chase & Co, Citigroup Inc and Bank of America Corp. warned employees: Do not make it worse. JPMorgan, the nation's largest bank, told all employees they "should never give the appearance of exploiting a situation of stress or uncertainty," in a March 13 memo, extracts of which were seen by Reuters. On the same day, the leaders of its consumer and business banking unit told branch employees: "We should refrain from soliciting client business from an institution in stress," according to extracts seen by Reuters.

  • China’s Reopening to Roil Energy Prices If Beijing Over-Delivers

    (Bloomberg) -- China’s reopening after three years of Covid Zero is the main source of optimism for commodities markets wracked by a string of bank failures and slowing global growth.Most Read from BloombergFinally, a Serious Offer to Take Putin Off Russia’s HandsAckman Warns of Accelerated Deposit Outflows After Fed DecisionShort Seller Hindenburg Says ‘Another Big One’ Coming SoonUS Fears a War-Weary World May Embrace China’s Ukraine Peace BidCiti CEO Fraser Warns Mobile Money is ‘Game Changer

  • Warning a quarter of a million hospital appointments could be postponed after junior doctors announce four-day strike

    Up to a quarter of a million appointments and operations might have to be postponed if a four-day walkout by junior doctors goes ahead next month, NHS leaders have warned.

  • Report Signals Humiliating End for Russia’s Shadow Army in Ukraine

    Reuters/Misha Japaridze/Pool/File PhotoYevgeny Prigozhin is preparing to pull his Wagner Group mercenaries’ attention away from the war in Ukraine, according to a Bloomberg report that cites sources familiar with the matter.His current plan is to focus the private mercenaries’ focus back to countries in Africa, such as Sudan, Mali, and the Central African Republic, where Wagner has deployed forces. On Monday, Wagner posted a recruitment notice offering deployments to African countries that would

  • BBC Question Time Audience Gives Damning Verdict On Boris Johnson Telling The Truth To MPs

    "Wow," said host Fiona Bruce after asking for a show of hands on the former prime minister's response to partygate questions.

  • Son of famed restauranteur dies in freak escalator fall at Rangers game

    ‘We have no idea what happened, but they do,’ widow’s lawyer says

  • Martin Lewis urges mobile phone users to send two texts to cut costs ahead of April price hikes

    The money saving expert has offered advice as mobile and broadband users are set to be hit with hikes of up to 17.3%

  • Rod Stewart shares big career news after falling ill

    Last week, Rod Stewart confirmed that he had pulled out of an appearance with Cyndi Lauper as he contracted a viral infection that affected his ability to sing. However, on Thursday, the 'Maggie May' hitmaker revealed a series of gigs that he would be playing during the summer – and he would be joined by another music icon. Taking to his social media pages, Rod confirmed that he would be appearing alongside Boy George and Culture Club for a series of six dates running from 24 June to 6 July. WAT