Vince Cable: UK to remove takeover 'wiggle room'

Business Secretary Vince Cable has said he will tighten the rules to deal with foreign takeovers of UK firms. He wants any new regime overseeing takeovers to also include possible fines for firms which renege on promises made during the deal. He told the BBC that any commitments must have no "wiggle room". He said legal changes would probably be needed to enforce such commitments, but that there was agreement across government for such measures. After his comments, Labour's shadow business secretary Chuka Umunna said his offer to work with Mr Cable on the issues "remains open".