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BT shares rise as EE confirms talks | |
(about 2 hours later) | |
(Noon): BT shares climbed 2.3% after the owners of the EE mobile phone network confirmed they were in talks over selling it to the UK firm. | |
On Monday, BT said it was in talks with two mobile operators about a possible purchase, with one network being Telefonica's O2. | |
Deutsche Telekom and Orange, joint owners of EE, have now confirmed that EE is the other firm being eyed by BT. | |
The benchmark FTSE 100 index was up 14.32 points at 6,745.46. | |
Mining shares also supported the index, with shares in Antofagasta up 3.9% and Randgold climbing 1.6%. Analysts said the sector was looking cheap, despite falls in commodity prices. | |
But the biggest move came in the FTSE 250, where shares in Thomas Cook sank more than 20% after its chief executive quit. | |
Harriet Green - who joined the travel firm two years ago - stunned the markets with her resignation. She said her work at the company was "complete". | Harriet Green - who joined the travel firm two years ago - stunned the markets with her resignation. She said her work at the company was "complete". |
Ms Green will be replaced by chief operating officer Peter Fankhauser, who will take over with immediate effect. | Ms Green will be replaced by chief operating officer Peter Fankhauser, who will take over with immediate effect. |
Shares in rival travel company Tui fell 1.5%. | |
Catering group Compass fell 1.2% despite the company reporting a 5.4% rise in underlying pre-tax profits to £1.2bn. | |