Pearson’s £100m Chinese takeaway

Pearson, the publisher behind Penguin books and the Financial Times, has agreed to buy Global Education and Technology Group for $155 million (£100m), it was announced yesterday.

The group, which is listed on the Nasdaq stock exchange, specialises in teaching materials for Chinese students learning English. It has built a network of about 450 test preparation and training centres across 60 cities in China.