FTSE soars after O2 takeover

An agreed offer for mobile phone giant O2 led a dramatic morning of takeover activity which sent the London market soaring today.

FTSE soars after O2 takeover
Mon, 31 Oct, 2005 - 12:03

An agreed offer for mobile phone giant O2 led a dramatic morning of takeover activity which sent the London market soaring today.

A £17.7bn (€26bn) offer for O2 from Telefonica had investors clamouring around the telecoms sector as shares in the stock lifted more than 24%, while shipping companies were boosted by £3 billion takeover interest in P&O.

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