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PRESS DIGEST-British Business - February 25

ReutersFeb 25, 2025 2:36 AM

- The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

The Times

- Britain's National Grid NG.L has sold its U.S. interests in solar arrays, onshore wind farms and battery storage facilities to Brookfield Asset Management BAM.TO for $1.735 billion.

- PostNL, the Dutch postal operator backed by the Czech tycoon buying the Royal Mail, has warned that its business model is "no longer sustainable" amid downbeat forecasts for the year and a dispute with ministers over state financial support.

The Telegraph

- British ministers have insisted that BMW BMWG.DE is still committed to Britain despite a decision to delay a 600 million pound ($757.20 million) upgrade of its Mini factory in Oxford.

- Britain's struggling oilfield services and engineering firm Wood Group WG.L has received a fresh approach from Dubai-based Sidara about a possible takeover offer after a failed attempt six months ago.

The Guardian

- Nuclear waste processing firm Sellafield has said nearly 3 billion pounds ($3.79 billion) in new funding is "not enough" and bosses are now examining swingeing cuts, prompting fears over jobs and safety at the vast nuclear waste dump.

- The food delivery business Just Eat Takeaway.com TKWY.AS has been snapped up by an investor in its German rival Delivery Hero DHER.DE for 4.1 billion euros ($4.29 billion), two months after it left the London Stock Exchange.

Sky News

- British broadband and mobile operator Virgin Media says it has fixed an issue that left many customers unable to get online after more than 9,000 reports of issues were made.

- U.S. private equity firm Bain Capital has tabled a 1.1-billion-pound ($1.39 billion) proposal to buy defence group Chemring Group CHG.L.

($1 = 0.7924 pounds)

($1 = 0.9552 euros)

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