Deals
Corbyn Vows to Stop Hostile Bids and Humble the City of London
- Labour leader vows to make finance the ‘servant of industry’
- In speech to manufacturers he cites Melrose and GKN as example
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Jeremy Corbyn pledged that a Labour government would make it harder for asset strippers to take over U.K. companies while vowing to make finance the “servants of industry not the masters of us all.”
While his full-throttle attacks on bankers have been become familiar to the City of London, his prescription for blocking hostile takeovers is specific and likely to rattle the world of business.