Al Faraj completes Portsmouth takeover

Saudi Arabian businessman Ali Al Faraj has sealed his takeover of English Premier League side Portsmouth, becoming the second new owner of the side in six weeks. Sulaiman Al Fahim, who bought the football club just six weeks ago, has sold 90 percent of his stake to Ali Al Faraj’s holding company Falcondrone Limited according to the club’s Web site

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T-Mobile UK and Orange in joint venture

Deutsche Telekom and France Telecom on Tuesday said they wanted to merge their British mobile-phone units T-Mobile UK and Orange UK to create a market leader better able to compete with two remaining big rivals. The two companies said they had started exclusive negotiations about putting their assets into a 50-50 joint venture by the end of October.

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