Eduardo Elsztain

“In what could prove a major test of Theresa May’s resolve on foreign takeovers”, an Argentine property billionaire is plotting “to seize control of the Falkland Islands’ biggest landowner”, says Jamie Nimmo in the London Evening Standard. Eduardo Elsztain’s target is the Aim-listed FIH Group, which controls the islands’ transport network and is also the biggest retailer in the disputed territory. Tensions between Argentina and Britain have eased, but the move is bound to cause ructions. The Foreign Office insists it’s “a commercial matter between two companies”. Former business secretary Vince Cable disagrees, arguing that if “some Argentines are trying to take over the islands by the back door”, there would be “a good case for intervention”.