UK’s competitive mobile market will protect consumers claims Ofcom
1 To find out more about Facebook commenting please read the Conversation Guidelines and FAQs UK’s Royal Mail soars on stock market debut By Pan Pylas and Danica Kirka, Associated Press 9:07 a.m. EDT October 11, 2013 Royal Mail vans lined up at London’s largest sorting office Mount Pleasant. The shares of Britain’s postal service were up 31% to 432 pence ($6.91) by midday, a hefty gain for shareholders who got them at 330 pence. Nearly 150 million shares, or 15% of the total issue, changed hands. “One can only say that investors have clearly given their stamp of approval to the offering,” said Brenda Kelly, senior market strategist at IG. But the opposition Labour Party argues that the gains prove the government shortchanged taxpayers and could have gotten more than the 1.72 billion pounds ($2.75 billion) it received from the sale. “The government has a lot of explaining to do,” the Labour Party’s business spokesman, Chuka Umunna, wrote on Twitter. The privatization is symbolic for the Conservative Party, the main party in the coalition government. Much of its electoral success in the 1980s under Prime Minister Margaret Thatcher was due to the sale at the time of state assets such as British Gas and British Airways. Business Secretary Vince Cable, who is a member of the Liberal Democrats, the junior party in government, dismissed claims the sale had been undervalued, telling BBC Radio that the sharp price rise was no more than “froth and speculation.” Big financial institutions, such as pension funds and sovereign wealth funds, are trading the shares Friday in what is known as conditional trading. Smaller shareholders who tended for only 750 pounds ($1,200) and bought through brokers were able to trade, too. Those who bought shares directly, including postal workers who got free stock, will get their chance to trade on Tuesday. Following Friday’s surge, the company is now valued at nearly 4.5 billion pounds ($7.2 billion), which means it is easily in the top 100 British companies by market capitalization.
Now ministers face the prospect of having to issue a new passport and allow the father of eight and his family back in. Eight really is enough. But how did he get to 8? Old Hilal is the marrying kind. Al-Jedda, 56, came to the UK in 1992 with his first wife and sought asylum. In 1998 they and their four children were given the right to remain here indefinitely and in 2000 were given British nationality. After divorcing his first wife he married again in 2002 and while still married took a third wife. He lives in Turkey with his third wife and all eight of his children. A lot of accounts mention that he was released without charge after months of detention. They fail to mention the details of that. Army chiefs freed prisoners in Basra suspected of killing British troops under a secret deal with Iraqi militants, it was claimed yesterday. The number held dropped from 86 to three while attacks fell 90 per cent since last summer, when Hilal al-Jedda says the deal was reached with cleric Moqtada al-Sadrs Mahdi Army.
The communications regulator on Friday published a consultation on increasing the proposed license fees for mobile spectrum. Ofcom said that it was the government who ordered for the consultation in 2010 to revise the annual fees paid by the mobile network operators for two spectrum bands 900 MHz and 1800. This may result in operators paying up to four times than the current annual fees. Some analysts are even concerned as hike in fees might see consumers taking the price hike brunt. Responding to the analysts concerns Ofcom said that it believes that the stiff competition among the four leading UK mobile operators should discourage mobile operating companies from putting up higher prices. Under the new proposal EE will have to pay 107.1m instead of 24.9m, Vodafone and O2 to pay 83.1m instead of 15.6m and Three UK will end up paying 35.7m instead of 8.3m. If implemented, the hike will be effective from 2014. Ofcoms spokesperson told Wired.co.uk that UK is one of the most competitive markets when it comes to mobile phones and this the factor that will ensure that consumers dont face the brunt of the price hike. Our proposed fees are in line with analysts expectations and with the amounts that operators pay for accessing spectrum in other countries, so should come as no surprise to the mobile companies said Ofcom. Ofcom has put the proposal under consultation ending December 19 and has said that if carriers have good enough argument against the price hike will listen to them. Tags