UK Business – May 16th: A Look at Press Coverage

Reuters reported on May 16 that Microsoft has received EU antitrust clearance for its $69 billion acquisition of Activision. This decision could potentially be a boost for the company as regulators in China and South Korea may follow suit. Meanwhile, US private equity firm Apollo Global has announced that it will not make a takeover offer for British oilfield services and engineering firm John Wood Group.

The UK telecoms regulator, Guardian Ofcom, opened an investigation on Monday and stated that Royal Mail may face fines for not meeting its delivery targets for the past year. This news comes as Tuesday’s meeting, which will be attended by Rishi Sunak, ministers from the Ministry of Environment, Food and Rural Affairs, farmers, and industry leaders, approaches.

In other business news, George Osborne, the former chancellor of the exchequer and now editor of The Telegraph, has been appointed chairman of Lingotto Investment Management, a $3 billion London-based investment fund backed by Dutch conglomerate Exor and French insurance giant Covair. Additionally, Bank of England chief economist Hugh Pill said on Monday that Vodafone Group is considering the sale of a unit valued at around £1bn ($1.26bn) with a 49% stake in the Internet of Things division, as the telecom giant responds to an offer to sell its stake and has hired independent advisory firm Akira Partners.

Lastly, a bidder for the royal purveyor Hunter boots is the preferred bidder for a stake in Ted Baker and David Beckham’s consumer goods empire. It is unclear who the bidder is or what the details of the potential purchase are. It is important to note that Reuters has not verified any of these articles and does not vouch for their accuracy.

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