Speculation regarding a host of possible different business combinations has kept Vodafone well bid, but the underlying logic may be questionable. For starters, the company need not acquire a smaller rival to play the game of 'digital convergence.' Similarly, a sale of its stake in Verizon Wireless would entail a very large tax bill. Finally, the firm need not sell that stake to finance a deal in Europe. Thus, the 'status quo' may be best, argues the Financial Times's Lex col [7 Mar '13]
Shares in FTSE-listed industrial services provider Cape rose sharply on Wednesday after the group unveiled preliminary results for the year ended December 31st, including a plan to improve operational performance. [6 Mar '13]
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