PRESS DIGEST- Financial Times - Nov. 1
Nov 1 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
Headlines
- Blackstone sells stake in 4 bln euros Spanish hotel chain to GIC
- Vodafone to sell Spanish business to Zegona for up to €5bn
- Madrid considers Telefónica stake as Saudi group builds holding
- IG Group to cut 10% of workforce
Overview
- Blackstone Group is selling a stake in Spanish hotel group Hotel Investment Partners to Singaporean sovereign wealth fund GIC. GIC will acquire a 35% stake in the company in a deal that values HIP at more than 4 billion euros ($4.23 billion).
- Vodafone has agreed to sell its Spanish business to Zegona Communications, a fund founded by two former Virgin Media executives for up to 5 billion euros.
- The Spanish government is considering taking a stake in Telefónica, a move that would act as a counterweight to Saudi Arabia's STC Group, which has said it wants to acquire 9.9% of the company.
- Online trading provider IG Group is to cut 300 jobs or 10% of its global headcount as it looks to simply the business to support future growth. ($1 = 0.9460 euros) (Compiled by Bengaluru newsroom)
