Takeover frenzy gives FTSE three-digit boost

clock

The FTSE 100 has ended up 103.90 points, or 1.99%, to 5317.30 after reports of a number of takeover bids sent stocks of O2 soaring.

O2 jumped 41.5p, or 25.27%, to 205.75p after it confirmed it had agreed a 200p per share, £17.7bn cash bid from Spanish rival Telefonica, which said the deal would provide enhanced sales by giving it entry to two of Europe's largest markets, Germany and the UK. But dealers said there was a good chance of a counter-offer, with Deutsche Telekom capable of beating up the price if it chose to. The news also pushed smaller rival Virgin Mobile up sharply by 3.81% to 300p. A bidding war could also be brewing for P&O after the ports and ferries operator confirmed the weekend stories of a £3bn a...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Muted response as Labour names Grimsby Town FC co-owner next investment minister

Muted response as Labour names Grimsby Town FC co-owner next investment minister

After the sudden exit of Poppy Gustafsson last week

Eve Maddock-Jones
clock 08 September 2025 • 2 min read
Hargreaves Lansdown and Schroders to launch double LTAF offering

Hargreaves Lansdown and Schroders to launch double LTAF offering

From next week

Eve Maddock-Jones
clock 08 September 2025 • 2 min read
Darius McDermott: Complacency at the peak

Darius McDermott: Complacency at the peak

'Markets to hit new highs, while credit spreads are at multi-decade lows'

Darius McDermott
clock 08 September 2025 • 5 min read