North Sea oil and gas producer Ithaca Energy on Wednesday said it was looking at a potential tie-up with Italy's largest energy firm Eni covering its UK assets and reported a slump in annual profits blaming the British government’s energy tax and project impairments.
Vodafone has confirmed media speculation that it intends to sell its Italian operations to Swiss telecoms group Swisscom for an enterprise value of €8bn.
Shares in Direct Line Insurance Group motored ahead on Wednesday, after Belgium's Ageas confirmed it was considering a possible £3.1bn bid for its UK rival.
Direct Line confirmed on Wednesday that it had rejected a £3.1bn takeover approach from Belgium’s Ageas, as it significantly undervalued the group.