How Saudi Arabia’s bet on Iran backfired
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 18 March 2026
⏱️ 11 minutes
🧾️ Download transcript
Summary
The EU wants to make mergers a bit easier, Wall Street banks are offloading $18bn of debt tied to video game maker Electronic Arts, and investors are piling into cash at the fastest rate since the Covid-19 pandemic. Plus, the FT’s Ahmed Al Omran explains why Saudi Arabia’s recent truce with Iran has not paid off.
Mentioned in this podcast:
EU weighs curbs on national powers to block mergers
Banks prepare to offload $18bn in debt tied to EA take-private deal
Investors pile into cash at fastest pace since pandemic on Iran fears
How MBS’s bet on Iran backfired
Send us your tariffs story: marc.filippino@ft.com
Note: The FT does not use generative AI to voice its podcasts
Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Saffeya Ahmed and Sonja Hutson. Our show was mixed by Kent Militzer. Additional help from Michael Lello, and David da Silva. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | Good morning from the Financial Times. |
| 0:04.2 | Today is Wednesday, March 18th, and this is your FT News briefing. |
| 0:08.8 | The EU wants to see more deals get done, and a monster loan offering is going to test the |
| 0:14.1 | market's appetite. |
| 0:16.0 | Plus the war in the Middle East is disrupting Saudi Arabia's push for economic reform. |
| 0:20.6 | In order to attract for investors and tourists, for all these projects that the country has spent |
| 0:25.8 | billions to develop and build, they need stability and peace in the region. |
| 0:30.7 | I'm Mark Filipino, and here's the news you need to start your day. The European Union wants to make it easier for companies to merge. |
| 0:45.5 | And so, Russell's is weighing whether to overhaul its merger rules. |
| 0:49.7 | The changes are meant to limit countries from blocking corporate turnovers. |
| 0:53.5 | There's been a bunch of that lately. |
| 0:55.9 | Germany has opposed a takeover of Commerce Bank by Italy's Unicredit. And similarly, Spain wouldn't |
| 1:01.9 | support a merger between BBVA and Banco Sabadell. A European Commission paper seen by the FT said that |
| 1:08.3 | there are certain cases where intervention is needed, |
| 1:11.5 | but in other cases it may have, quote, unnecessarily hindered scaling up. |
| 1:16.6 | EU officials worry that these kinds of interventions risk fragmenting the bloc's single market |
| 1:21.7 | and that they're undermining efforts to build pan-European companies that can compete on a global level. |
| 1:28.2 | The commission declined to comment on the document. |
| 1:36.6 | It's game on for a huge pile of debt tied to video game maker electronic arts. |
| 1:42.1 | Wall Street banks have started offloading $18 billion of debt |
| 1:45.9 | related to the leverage buyout of EA. It was the biggest leverage buyout financing since the |
| 1:51.4 | global financial crisis. The sales are going to be a test of investor appetite at a time when |
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