News That Matters

Tag: stake

Canadian pensioners swoop on £3bn Gatwick stake

Canadian pensioners swoop on £3bn Gatwick stake

Business
Canada's biggest pension fund is preparing to swoop for part of a stake in London's Gatwick Airport that could be worth more than £3bn - days after it unveiled a plan to use its emergency runway to boost capacity. Sky News has learnt that the Canada Pension Plan Investment Board (CPPIB) is part of a group of investors which are proposing to buy out Global Infrastructure Partners (GIP), Gatwick's biggest shareholder since 2009.A deal is expected to be finalised in the coming weeks, with CPPIB participating in an agreement alongside other pension and infrastructure funds.If it proceeds with a transaction, the Canadian retirement scheme, which managed $ 356.1bn (£272bn) at the end of its financial year in March, would invest hundreds of millions of pounds in Britain...
21st Century Fox to sell Sky stake to Comcast

21st Century Fox to sell Sky stake to Comcast

Business
21st Century Fox has agreed to sell its 39% stake in Sky plc, the owner of Sky News, after rival Comcast triumphed in an auction. The announcement comes four days after the two US giants went head-to-head in a dramatic shoot-out to take control of Sky, overseen by the Takeover Panel.Comcast came out of the auction on top with its £17.28 offer per share, valuing the takeover target at £29.7bn - ahead of Fox's £15.67 valuation.Fox - which already held a 39% stake in Sky - was left to decide what it would do with those shares following Saturday's auction process, and has now revealed its intentions.The company said: "In light of the premium Comcast has agreed to pay for Sky, we and Disney have decided to sell 21CF's existing 39% holding in Sky to Comcast."We con...
Betfred to axe 4,500 jobs after FOBT stake cut

Betfred to axe 4,500 jobs after FOBT stake cut

Business
The bookmaker which owns The Tote will axe more than 4,500 jobs if the Government implements plans to slash maximum stakes on gambling machines to just £2. Sky News has learnt that Betfred has told ministers that almost 900 of its shops - more than half its UK estate - will become loss-making overnight if they press ahead with reforms to Fixed Odds Betting Terminals (FOBTs).In a letter to members of the home affairs sub-committee, Mark Stebbings, Betfred's managing director, warned that "much upset and heartache will go into having to make…redundant" close to 4,500 people who work in the potentially loss-making betting shops.Sources said that several hundred staff at the company's Warrington headquarters were also likely to be made redundant if the £2 move ...
Apple shares hit all-time high after Buffett raises stake

Apple shares hit all-time high after Buffett raises stake

Technology
Apple shares have hit an all-time high on news that legendary investor Warren Buffett now has a roughly 5% stake in the tech giant.Shares in Apple, already the world's most valuable company, rose by almost 4% on Friday to more than $ 183.7 each.Mr Buffett said his Berkshire Hathaway group bought about 75 million more shares of the iPhone maker in the first three months of the year.His investment moves are closely watched across the world.Mr Buffett's company has been buying up shares in Apple since 2016. Berkshire Hathaway claimed a nearly 3.3% stake, or more than 166 million shares, at the end of last year. At the time, the holding, one of Berkshire's biggest stock market gambits, was worth more than $ 28bn. Now, after the additional share purchases and an 8% rise in price since the start...
Woodford outflows hit stake in Atom bank

Woodford outflows hit stake in Atom bank

Business
Neil W‎oodford, Britain's most celebrated fund manager, has been forced to reduce his stake in a leading challenger bank after a wave of client redemptions dried up cash for new investments.‎Sky News has learnt that Woodford Investment Management, which was set up 2014, informed the board of Atom Bank that it could not afford to participate in a £150m share issue announced this week.The deal would have required Woodford to write a multimillion pound‎ cheque to maintain its stake in Atom at over 20%, but it told the lender several weeks ago that it was "unable" to participate, according to several City sources.Woodford's shareholding has now fallen to 18%, according to a spokesman.The development is the latest setback for Mr Woodford, and raises questions about the extent of the liquidity c