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Article: Bid frenzy drives FDI to GBP 106.5bn
- Article from:
- The Scotsman
- Article date:
- December 13, 2006
- Author:
CopyrightCopyright 2006 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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FOREIGN direct investment flowing into the UK soared by GBP 76
billion last year to a new record of GBP 106.5bn.
The latest figures confirm a sharp rise in cross-border merger and
acquisition activity, with the trend continuing into this year. Major
FTSE 100 companies to have succumbed to overseas takeover include
BAA, Thames Water and O2, with an GBP 11bn bid pending for
ScottishPower from Spanish concern Iberdrola.
Investment from Europe jumped almost threefold in 2005, from just
under GBP 30bn to GBP 81.6bn. There were also a GBP 23.3bn rise in
investment from the Americas.
By contrast, UK companies have been less active in building up