LONDON Jan 19 British newspapers reported the
following business stories on Sunday:
The Sunday Times
VODAFONE, SKY IN TALKS TO STOP BT BROADBAND GROWTH
Vodafone and BSkyB have held high-level
discussions to curb BT's increasing grip on the broadband
TESCO SETS SIGHTS ON MOTHERCARE
Tesco weighed up a bid for baby products chain
Mothercare six months ago as part of a wider effort to
reinvigorate its British hypermarkets.
UNITED BISCUITS OWNER PREPARES FIRM FOR 2 BLN STG SALE
Blackstone and PAI Partners, owners of United
Biscuits, have lined up investment bank JPMorgan to hunt
for buyers for the business. American groups Mondelez,
PepsiCo and Campbell's are among those thought
to have shown an interest, the newspaper said.
L&G TO SPEND 5 BLN STG ON NEW TOWNS
Pension fund manager Legal & General is planning to
build five new towns across Britain in the next ten years at a
cost of up to 5 billion pounds ($8.22 billion).
TAKEAWAY SERVICE JUST-EAT EYES FLOTATION
Britain's biggest online takeaway service Just-Eat has hired
JPMorgan and Goldman Sachs to look at a listing which
could value the company as much as 800 million pounds. The
listing could be launched in the first half of this year.
The Sunday Telegraph
GOVERNMENT MAY SPEED UP SALE OF LLOYDS SHARES
The government is planning to accelerate the sale of the
next tranche of shares in Lloyds Banking Group to as
early as mid-February.
SECOND ACTIVIST INVESTOR REVEALED IN MORRISONS
A second activist investor, Sandell Asset Management, has
emerged as a shareholder in Morrisons. The supermarket
group is already under pressure from another activist investor,
hedge fund Elliot Associates, to sell off a large part of its
L&G BOSS WARNS OSBORNE ON HELP TO BUY
Legal & General's chief executive has warned that the
government's Help to Buy mortgage support scheme could drive a
price bubble which would make homes unaffordable for all except
the most affluent.
INSURER SAGA TO INVITE CUSTOMERS TO BE PART OF FLOAT
British travel and insurance group Saga will invite its
customers to become shareholders in a magazine article next
week, kicking off the company's potential 3 billion pound float.
STALLED CITY SKYSCRAPER IN TALKS WITH NEW INVESTORS
Owners of the stalled Pinnacle skyscraper in London's City
financial district have opened discussions with about 12
potential new investors. The building is developed by Arab
Investments, backed by Saudi Arabian wealth fund SEDCO and U.S.
property investor Pramerica.
Financial Times Weekend
U.S. ACTIVIST INVESTOR CRITICISES FIRSTGROUP UPDATE
Sandell Asset Management, which is pressing for the break up
of FirstGroup, said the bus and rail operator had to
provide more detail on how it would engineer a turnaround after
a weak trading update.