Business news in brief: Vodafone | Borland | Ryanair

Share this article
0
Have your say

Insurance firm Borland has completed a “six-figure” deal to take over the Kirkcaldy office of rival Carlyle.

The acquisition will add nine members of staff to Borland, taking the headcount at the Dunfermline-based company, which also has an office in Aberdeen, to 57.

Chief executive John Silcock said the deal puts the firm in a “strong market position” to meet its goal of growing its workforce by up to 20 per cent over the next 12 months.

He added: “Our expanding team of insurance specialists places us in an ideal position as we continue to develop.”

EU gives green light for Vodafone’s deal

VODAFONE’S €7.7 billion (£6.5bn) takeover of Germany’s Kabel Deutschland was cleared yesterday by the European Union’s competition watchdog.

The European Commission said its investigation had found the two companies’ businesses were mainly complementary and there was no risk that they might gain price-setting dominance in their markets.

Vodafone said that all the conditions of its offer for Kabel Deutschland had now been fulfilled and that it expects the deal to be completed on 14 October. Goldman Sachs and UBS acted for Vodafone.

Third of investors rebel at Ryanair

BUDGET airline Ryanair was dealt a blow at its annual general meeting in Dublin yesterday with more than a third of voting shareholders rejecting plans for a new share option scheme for bosses.

The pay deals were approved despite around 34 per cent of voting shares being cast against the plans, which gives bosses the right to buy shares depending on hitting performance targets.

Chief executive Michael O’Leary admitted his airline must improve how it treats passengers and handles complaints so customers don’t feel pushed around by staff.

Technip extends its contract with Stork

MAINTENANCE firm Stork Technical Services yesterday won a further contract from French oil and gas engineering group Technip.

The latest three-year deal, which could be extended for a further 24 months, comes on the back of a previous five-year contract.

Fraser Coull, operations support director at Stork, said: “We are delighted that Technip has chosen to continue the strong relationship we have developed with it over the past five years. Stork has delivered a consistently high standard of service.”