PRESS DIGEST - Financial Times - July 12

July 12 Thu Jul 11, 2013 9:56pm EDT

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July 12 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

Lloyds stake earmarked for retail investors

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Schneider approaches Invensys on potential takeover

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G4S faces fraud probe over tagging contracts

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Ballmer shakes up Microsoft structure

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EU raids telecom operators over 'throttling' concerns

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EasyJet shareholders approve fleet expansion

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China accuses GSK of bribing officials over prices

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Overview

As much has half the government's stake in Lloyds Banking Group is set to be sold to retail investors, as part of a provisional scenario being contemplated by officials with the sell-off possibly kicking off as early as September.

France's Schneider Electric has made a preliminary takeover approach for Britain's Invensys Plc in a deal that values the company at nearly 3.3 billion pounds ($5 billion), the engineering group said on Thursday.

G4S and rival Serco have been billing the taxpayer for tracking criminals who were either dead, in prison or who had moved abroad, it emerged on Thursday.

Microsoft Chief Executive Steve Ballmer has overhauled the company's operational structure and reshuffled top management in the hope of catching nimbler rivals in a fast-moving technology world.

European Union officials raided the offices of Deutsche Telekom, Orange and Telefonica as part of an investigation into whether the companies abused their dominant position in the internet market.

EasyJet shareholders have backed a multibillion dollar deal to expand the airline's fleet, going against strong opposition from founder Stelios Haji-Ioannou.

China's security ministry said GlaxoSmithKline employees have confessed to accusations of bribing Chinese government officials, medical associations, hospitals and doctors to boost prices of drugs in three of the country's biggest cities.

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