Grid nets bumper Â£5.8bn from sell-off
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National Grid Transco agreed one of the largest cash deals in recent corporate history yesterday with the sale of four of its eight gas distribution networks for Â£5.
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LONDON National Grid Transco, the owner of Britain&#39;s power and natural gas grids, said on Tuesday that it would sell half of its gas-distribution networks for Â£5.
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Telecoms equipment-maker Avaya accepts an $8.5bn takeover offer from private equity groups.
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Attacks by Eta Basque separatists have cost Spanish economy 8bn euros (Â£5.6bn) over the last decade, a report says.
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National Grid Transco, the pipes and pylons company, yesterday announced a Â£6bn deal to sell half its gas distribution business. The move pleased the City but alarmed unions and consumer groups.
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The four networks have been bought by consortia which include Scottish &amp; Southern Energy and United Utilities. Transco said that it would return about Â£2bn to shareholders following the sale and would increase its dividend for the current year by 20%.
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The Bank of England held a key interest rate steady at 5.25 percent on Thursday.
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Centrica, the owner of British Gas, reports a 5% fall in operating profits despite the benefit of higher fuel bills.
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The bank said it would sell a $5 billion stake to Chinaâs sovereign wealth fund as it posted a loss after taking a new $5.7 billion write-down related to mortgages.
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Wireless tower company Crown Castle  International Corp.  on Friday said it will buy smaller  rival Global Signal Inc.  for about $5.8 billion in  cash, stock and debt.
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British Energy Plc, producer of a fifth of Britain&#39;s electricity, said it will de-list its stock to prevent shareholders from blocking a plan intended to save the company from bankruptcy.
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Mobile phone giant Vodafone sells its 25% stake in Swisscom Mobile for 4.25bn Swiss francs (Â£1.8bn).
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The cost of meeting green energy targets could add 5% to electricity bills by 2010, a National Audit Office report finds.
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The British power and gas system operator National Grid Transco PLC said Tuesday it has sold four regional natural gas distribution networks for 5.8 billion pounds (&#36;10.4 billion) in three deals.
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Vodafone is to cut costs by Â£2.5bn per year by March 2008. It will do this a combination of Â£1.4bn through cost-saving measures and Â£1.
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A consortium of private equity firms agreed to pay $8.5 billion, nearly $2 billion less than the original agreement.
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The battle between British Energy and rebel shareholders seeking a better deal from the company&#39;s Â£5bn restructuring plan intensified yesterday when the nuclear generator announced it was abandoning its London share listing.