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Sunday 10th of May 2009

News Tag: division

May 3, 2009

T-Mobile might sell UK division

by Peter Charalambous
According to the Financial Times, Deutsche Telekom, which owns T-Mobile, is under pressure to leave the UK market after disappointing financial results. The two main shareholders are the German government and the private equity group, Blackstone, are calling for the UK mobile telephone operations to be sold as they are under performing in an ever increasingly competitive UK market. As the fourth largest mobile ...

October 20, 2008

RBS may offload insurance arm for £6bn

by Kay Murchie
Royal Bank of Scotland (RBS) is believed to be in talks to sell its insurance operation to private equity firm, CVC, and Swiss Re for £6 billion. The division, which includes the Churchill, Direct Line, Privilege, UKI and NIG brands, was put up for sale earlier in the year, at a cost of around £7 billion. The sale would provide a much-needed ...

September 30, 2008

Job losses at Lehman’s European division

by Kay Murchie
PricewaterhouseCoopers (PWC), which was appointed as the administrators of Lehman Brothers’ European division, have announced that 750 workers are to lose their jobs with immediate effect. PWC said the bulk of the losses will be made at the Canary Wharf offices in London and said all avenues have been exhausted and the jobs could not be saved. Most of the job losses are ...