Tech and telecoms names dominated the day's news flow, with a surprise stake-building move at Vodafone overshadowing a regulatory clearance in the Cordel Group takeover and a security validation win for Thruvision. Fund manager Polar Capital Technology Trust also reported on the strength of its portfolio's long-run performance.
Cordel Group clears NSIA hurdle in Vossloh takeover
The UK government has confirmed it will take no further action under national security legislation against Vossloh's recommended cash acquisition of Cordel Group (LON:CRDL), removing a key regulatory condition standing between the deal and completion. Cordel shares edged up 1.11% to 12.285p on the news, which clears one of the last significant hurdles facing the takeover.
Thruvision wins NPSA validation for screening system
Thruvision Group (LON:THRU) has secured confirmation from the UK Government's National Protective Security Authority that its 8108 WalkTHRU walk-through screening solution passed testing under the NPSA's Discriminative Threat Detection Systems Test Method, demonstrating its capability to screen for mass casualty threats. Thruvision shares rose 3.7% to 0.7p following the validation, which strengthens the company's credentials in the security screening market.
Vodafone shares surge on Niel stake investment
Vodafone Group (LON:VOD) shares jumped 12.725% to 110.2p after French billionaire Xavier Niel confirmed he is building a stake in the telecoms group through his Vega investment vehicle. The investment is being funded entirely by Niel personally alongside backing from financial institutions, marking a significant vote of confidence from one of Europe's best-known telecoms entrepreneurs.
Polar Capital Technology Trust nearly doubles NAV
Polar Capital Technology Trust (LON:PCT) highlighted the near-doubling of its net asset value over the period, with chair Catherine Cripps reaffirming the board's confidence in portfolio manager Ben Rogoff and his team. Shares in the trust were little changed, down 0.147% at 680.5p, as the update focused on the durability of the long-term returns generated under Rogoff's stewardship.
