PRESS DIGEST - Financial Times - Feb 5

Mon Feb 4, 2013 7:48pm EST

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Feb 5 (Reuters) - Headlines

S&P faces DoJ lawsuit over 'rosy' ratings

SGX in talks on taking LCH.Clearnet stake

Mercuria hires bankers for partial sale

Moscow Exchange valued at up to $4.6 billion BP faces year-long wait for spill closure

EADS turns to ex-Thales boss as chairman

KPN eyes 4 billion euro capital raising

Overview

Standard & Poor's is likely to face a lawsuit filed by the U.S. Department of Justice alleging that the credit rating agency defrauded banks by issuing overly rosy ratings for mortgage-related securities in the lead-up to the financial crisis.

SGX, the Singapore stock exchange, is in talks to buy a stake in clearing house LCH.Clearnet. The Asian exchange may participate in the London Stock Exchange Group's purchase of LCH or buy a separate stake.

Mercuria - one of the world's top five energy traders, has hired Credit Suisse to carry out a strategic stake sale.

The Moscow Exchange is set become Europe's largest exchange by market capitalisation after it set a price range for its initial public offering, that values the company at $4 billion to $4.6 billion.

BP Plc is likely to face a year or more of uncertainty over the cost of the 2010 Deepwater Horizon disaster as any decision on civil penalties and environmental damages is not expected to come until next year.

Former chief executive of Thales - Denis Ranque, has emerged as the front runner to become chairman of European aerospace and defence company EADS, according to two people familiar with the situation. EADS shareholders will meet next month to approve a new board and corporate governance structure at the company.

Dutch telecoms group KPN, is finalising plans to raise as much as 4 billion euros in new capital. The company whose stakeholders include Mexican billionaire Carlos Slim, is seeking to raise 2 billion euros to 4 billion euros in the form of a rights issue.

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