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Tag: plots

Mitie plots £100m raid on giant Interserve arm

Mitie plots £100m raid on giant Interserve arm

Business
By Mark Kleinman, City editor The outsourcing group Mitie is this weekend plotting an audacious ‎takeover bid for the biggest division of rival Interserve just hours after it endured a brief skirmish with administration.Sky News can reveal that Mitie is drawing up plans to offer Interserve's new owners - a consortium of banks and hedge funds‎ - roughly £100m for its support services unit. The support services business carries out facilities management work for the government and numerous private sector clients in the UK and the Middle East.If completed, a deal would create a company employing close to 100,000 people in the UK, making it one of the country's biggest private sector employers.Around 40,000 of Interserve's 45,000‎-strong ...
TransferWise plots share sale at £3bn valuation

TransferWise plots share sale at £3bn valuation

Business
By Mark Kleinman, City editor Digital payments group TransferWise is poised to cement its status as one of Britain's most prized technology companies by orchestrating a share sale valuing it at about $ 4bn (£3.1bn).Sky News has learnt that TransferWise has appointed Goldman Sachs to advise on the sale of approximately $ 200m (£153m) of shares by existing investors. The deal, if completed, will underline the company's reputation among the UK's tech start-ups, with a stock market flotation now likely to be on the medium-term agenda.Sources close to the situation said the secondary share sale was at an early stage, with an announcement unlikely for some time.TransferWise's putative $ 4bn valuation would be more than twice the level at which it las...
3,500 jobs at risk as Honda plots Swindon closure

3,500 jobs at risk as Honda plots Swindon closure

Business
By Mark Kleinman, City editor Honda is preparing to announce the closure of its factory in Swindon, dealing a devastating blow both to its 3,500-strong workforce and ministers' hopes that the UK will remain an elite manufacturing economy after Brexit.Sky News has learnt that the Japanese car manufacturer could disclose the plan as soon as Tuesday morning. A Honda spokesman did not return calls seeking comment on Monday.If confirmed, the move will represent a further savage blow to Britain's automotive sector amid enormous uncertainty surrounding the terms of future trade with the European Union.A source close to Honda said the company was expected to close its plant in Swindon in 2022, although the company will retain its European headquarters in Bracknel...
European Union issues sanctions on Iran over assassination plots

European Union issues sanctions on Iran over assassination plots

World
Jan. 8 (UPI) -- The European Union announced sanctions Tuesday against a unit of the Iranian intelligence agency and two individuals for their alleged involvement in various assassination plots. The move places both individuals and the intelligence unit onto the EU's terror list, accusing them of carrying out attacks as part of plots against Iranian opposition figures in Denmark and France. As a result of the designation, the accused will have their assets frozen and will be subject to other restrictions. Dutch Foreign Minister Stef Blok said the Netherlands' secret service had "strong indications" Iran was involved in the assassination of Dutch nationals in Almere in 2015 and in The Hague in 2017 "The EU and the Netherlands take strong action against Iranian unlawful interference in Eur...
Daily Mail owner plots bid for i newspaper

Daily Mail owner plots bid for i newspaper

Business
The owner of the Daily Mail is plotting to buy the i in a move that would expand its share of the national newspaper market during a period of turbulence for the UK's biggest publishers‎. Sky News has learnt that Daily Mail and General Trust (DMGT) is drawing up plans to make an offer for the i as its current owner, Johnston Press, scrambles to raise cash from a full or partial takeover.DMGT's proposed bid is at an early stage, but is expected to be lodged ahead of a deadline in the coming weeks set by Johnston Press's advisers at Rothschild, the investment bank.Purchasing the i would not be material in cost terms for DMGT, which saw a 4% underlying decline in revenue in its consumer media operations during the nine months to June.The i has been a rare success story in ...