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Foreign buyers are bagging UK bargains
Foreign acquirers snapping up
UK firms
UK companies are being swept up in a flurry of activity from eager foreign investors, according to the latest government figures.
The Office for National Statistics revealed that overseas buyers have been capitalising on undervalued firms, whilst UK investors appear to have tightened their belts and cut down on overseas spending. Acquisitions abroad by UK companies decreased from £25.8 billion in quarter four 2007 to £15.5 billion in quarter one 2008.
The report also showed that the value of foreign companies buying into Britain rocketed from £9.2 billion in quarter four 2007 to £19.9 billion in quarter one 2008.
Firms here have remained quite bullish with domestic buys, expenditure on acquisitions in the UK by UK companies increased from £3.2 billion in quarter four 2007 to £3.6 billion in quarter one 2008, although the number of deals (115) is the lowest since Q1 2003.
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