PRESS DIGEST-SUNDAY BRITISH BUSINESS - JUNE 15
LONDON, June 15
LONDON, June 15 (Reuters) - British newspapers and media reported the following business stories on Sunday. Reuters has not independently verified these media reports and does not vouch for their accuracy.
FAST FOOD GIANT SSP READIES IPO
Catering group SSP is preparing to announce plans for a stock market listing valuing the firm at around 2 billion pounds ($3. billion). The company's private equity group owner EQT is looking to offer around 25 percent, raising between 450 million pounds and 500 million pounds.
ICBC IN TALKS FOR UK BANKING LICENCE
The Industrial and Commercial Bank of China (ICBC) is in talks with British banking regulator the Prudential Regulation Authority over becoming the first Chinese bank to gain a UK bank branch licence.
OFCOM TO TEST BT'S BROADBAND PRICING
British telecoms regulator Ofcom is poised to unveil a test of whether BT's wholesale and retail pricing of superfast broadband squeezes the profit margins of its rivals and customers.
PREZZO WEIGHS UP TAKEOVER OF RIVAL
Italian restaurant chain Prezzo is among suitors putting together bids for high street rival pizza chain Strada which is being hived off by parent Tragus as part of a financial restructuring.
RBS IN TALKS WITH PRIVATE EQUITY GROUPS OVER ULSTER BANK CASH INJECTION
Royal Bank of Scotland is in talks with private equity groups about plans to inject new cash into the state-backed lender's Irish operations. Under the proposal, private equity investors would pump money into Ulster Bank to bolster its capital after which it would merge with another Irish bank.
Warburg Pincus is one of several groups examining a deal, along with CVC, KKR and Permira.
PROPERTY GIANTS BATTLE FOR 600 MLN STG STAKE IN BLUEWATER
British Land, in partnership with Norway's Norges Bank, is bidding against Hammerson for a 30 percent stake in the Bluewater retail complex being sold by Lend Lease.
EASTERN EUROPEANS WORKING ON BAD BANK PLANS
Several eastern European nations are examining plans to create a safety net for troubled banks amid mounting fears that a financial crisis could erupt in the region.
ASIAN TYCOON EYES BID FOR UK TRAINS
Hong Kong billionaire Li Ka Shing's buyout arm Cheung Kong Infrastructure Holdings is weighing up an offer for Porterbrook, the rolling stock company.
BSKYB HIRES BANKS TO ADVISE ON BUILDING PAN EUROPEAN GROUP
British satellite broadcaster BSkyB has hired Morgan Stanley and Barclays to advise it on the complex takeover of its sister companies in Germany and Italy. All three companies are controlled by Twenty-First Century Fox which is seeking to bring its pay TV assets under one roof.
Lloyds Banking Group is considering raising the bottom end of the 220-290 pence price range set for the listing of subsidiary TSB to around 240 pence.
($1 = 0.5956 British Pounds) (Compiled by Chris Vellacott; Editing by Mark Potter)
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