AO World signs £33m takeover

AO World has agreed to buy online-only phone retailer Mobile Phones Direct in a “game-changer” acquisition that will expand its mobile offering in time for the introduction of 5G.

The £32.5m takeover will increase AO World’s mobile offering, which is currently limited to handsets only. Chief executive Steve Caunce said the deal would position the company to take advantage of the rollout of 5G over the next two years.

Poppies fall through the atrium of the Lloyd’s building during the Lloyd’s of London Armistice commemoration service yesterday, watched by hundreds of staff of the insurance market, the world’s leading provider.