A brief look at the morning business news for the SME owner manager.

National Express (LON:NEX) has rejected an unsolicited takeover bid from its larger rival FirstGroup in a surprise development likely to put further pressure on the bus and rail operator.

Vodafone and T-Mobile

Vodafone (LON:VOD) is in the hunt for T-Mobile UK, a move that would make the firm the biggest mobile phone operator in the UK, the Financial Times has said.

The Newbury-based firm is interested in acquiring T-Mobile, even though the deal may be blocked by regulators, the paper said.

Vodafone has a 25% share of the UK market, behind O2. T-Mobile, owned by Deutsche Telekom, has a 15% share.

T-Mobile UK is understood to have been placed on the market by Deutsche Telekom, its owner, which has appointed JPMorgan to advise it on its options.

Lloyds Banking Group

The prospects of the UK government realising profit from their investment in the Lloyds Banking Group (LON:LLOY) grew along with a Goldman Sachs recommendation this morning.

Lloyds gained 2.92% percent to 68.49p by 9:15 am on the upgrade.

Goldman Sachs raised its recommendation on the stock to “buy” from “neutral,” saying the lender will be a “key beneficiary” of higher market share concentration in the UK.
 

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