European Movers: Telecom Italia (TIT IM) +5.3%, Delivery Hero (DHER GY) +1.0%, Danone (BN FP) -0.9%, Volkswagen (VOW3 GY) -1.4%, Rhienmetall (RHM GY) -2.3%, Poste Italiane (PST IM) -3.5%
Every headline is on the live feed 20 minutes before this site.
Iranian Foreign Ministry denies the allegations that it targeted the Diego Garcia base with missiles; calling the attack an "Israeli false flag"
Iran's Defense Council threatens to deploy naval mines across the 'entire Persian Gulf' if a land invasion happens, AP reports
European Movers: Telecom Italia (TIT IM) +5.3%, Delivery Hero (DHER GY) +1.0%, Danone (BN FP) -0.9%, Volkswagen (VOW3 GY) -1.4%, Rhienmetall (RHM GY) -2.3%, Poste Italiane (PST IM) -3.5%
Sinopec (0338 HK) VP says there is not much Russian oil available under the waiver and are evaluating risks of buying Iranian oil
Iran's Defence Council says only way for safe passage through the Strait of Hormuz is for non-belligerent states to coordinate with Iran; reiterates that Iran will respond back with equal action on attacks to power plants
On the Newsquawk feed at , 20 minutes before this page.
Danone (BN FP) - Co. is to acquire Huel; price not disclosed.
Delivery Hero (DHER GY) - Delivery Hero entered into a share purchase agreement for the sale of its foodpanda business in Taiwan to Grab Holdings. Purchase price amounts to USD 600mln on a cash and debt free basis
Poste Italiane (PST IM) / Telecom Italia (TIT IM) – Poste Italiane has launched a EUR 10.8bln bid for Telecom Italia.
Rheinmetall (RHM GY) - Rheinmetall plans to take over the delayed F126 frigate project for the German Navy and expects to win the general contractor role this summer, Welt am Sonntag reports. The company aims to accelerate production and deliver the first of six planned frigates in H2 2031. (Sonntag)
Volkswagen (VOW3 GY) - Volkswagen CEO Blume said restructuring will continue despite a rising order backlog, according to Bild. He said VW is applying clear manufacturing cost targets across plants in Germany, Europe and China to avoid costly overcapacity. (Bild)
Context
Telecom Italia's substantial bid from Poste Italiane signals aggressive consolidation in the European telecommunications sector; this could set a precedent for further M&A activities. Meanwhile, Delivery Hero's divestiture of its foodpanda business highlights strategic reshuffling in the food delivery market, potentially impacting competition and growth outlooks. Volkswagen's ongoing restructuring amid rising orders suggests a cautious approach to capacity management, which could affect its future profitability and stock performance.
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