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Thursday,12 May 2022 at 16:12
BThas reached an agreement to create a joint
venture with Warner Bros Discovery to bring together BT Sport with Eurosport UK
in a deal worth up to £633 million.
A combination has been finalised to create the 50-50 partnership, following
exclusive discussions in February, and which provides BT with a route to a
potential full exit.
The partnership will bring together sports rights including the Uefa Champions
League and Premier League football, Premiership rugby, the Olympic Games,
tennis Grand Slams and the Tour de France.
Completion of the deal was announced alongside BT’s full-year results today,
which were in line with expectations in the City and the telecoms group
reiterated its annual forecasts.
UK & European stocks
fell as investors remained concerned about slowing growth,
interest rate hikes and inflation data from the U.S.
U.S.stocks paredmorning lossesas markets attempted to come back from a
recent losing streak spurred by continued inflationary pressures and renewed
worries the Federal Reserve's price-mitigating efforts may be more aggressive
Oil prices moved higherin
a volatile week as recession fears dogged global financial markets.
Gold gained after
U.S. consumer price data suggested inflation might have peaked in April.
At the close:
FTSE 100 7,233 (-1.56%)
FTSE 250 19,480 (-0.85%)
DAX 13,739 (-0.39%)
Dow Jones 31,579 (-0.80%)
S&P 500 3,912 (-0.60%)
NASDAQ 11,353 (-0.10%)
UK 10-YR YIELD 1.665
Gold $1,834 (-0.98%)
Brent $107.27 +0.30%
Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.