(Bloomberg) -- Here’s the key business news from London-listed companies this morning.

Vodafone Plc: The telecommunications giant expects macroeconomic challenges, particularly inflation, to impact its financial performance in the year ahead, after reporting slightly lower than expected organic service revenue growth.

  • Vodafone said it’s “actively pursuing” opportunities with its listed infrastructure arm Vantage Towers AG, amid shareholder pressure to increase its deal making

ContourGlobal Plc: KKR & Co Inc has agreed to buy the power generation company, valuing its share capital at about £1.75 billion. 

  • The deal has been recommended by ContourGlobal’s board and at 263.6 pence per share in cash, offers a premium of 36% to Monday’s closing price

M&C Saatchi Plc:   AdvancedAdvT Limited has offered to buy the advertising agency, now looking for the support of the company’s shareholders after it wasn’t able to win the recommendation of its board.

  • The offer values M&C Saatchi at £253.6 million based on Monday’s closing price

Imperial Brands Plc: The tobacco company reported an uptick in earnings after trimming losses in its “Next Generation” vaping products.

Outside The City

Liz Truss will make a statement in the House of Commons today, setting out her plan to introduce laws that would override parts of the Northern Ireland protocol if negotiations fail to make headway after months of stalemate with the EU. Boris Johnson said he’s prepared to unilaterally amend the agreement over Northern Ireland, though would prefer a negotiated solution.

In Case You Missed It

Todd Boehly’s £4.25 billion takeover of Chelsea FC has hit a snag amid disagreements between the government and Roman Abramovich over the terms of the deal, a person familiar with the matter told Bloomberg.

And the market for existing homes in Hackney is finally showing signs of slowing down after more than 10 years of almost uninterrupted price growth. 

Looking Ahead

Inflation data for April is due tomorrow as prices increase at record rates. Analysts expect the retail price index compared to a year ago to enter double digits.

Also on Wednesday, luxury clothes brand Burberry Group Plc reports amid concerns that lockdowns in China might impact one of the industry’s key customer bases.

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