The Reuben brothers have struck a near-£90m deal to buy Morley’s 25% stake in the European business of data-centre company Global Switch, giving them complete control of Global Switch worldwide. Sunday Times

The Reubens already own a 75% stake in the European portfolio, which includes two facilities in London, and others in Amsterdam, Madrid, Paris and Frankfurt. They separately owned Global Switch centres in Australia and Singapore and the European assets will now be brought together with the Australian-Asian business to create a single, world-leading data-centre business.

The brothers plan to spend more than £170m on upgrading and expanding Global Switch facilities to create a £1.2bn business.