LONDON Aug 31 British newspapers reported the
following business stories on Sunday. Reuters has not
independently verified these media reports and does not vouch
for their accuracy.
THE SUNDAY TIMES
GLAXO INVESTORS WANT EARLIER EXIT FOR CHAIRMAN GENT
GlaxoSmithKline is facing a shareholder revolt over
plans to shake up its board, with leading investors calling for
the speedy departure of Chairman Christopher Gent.
Several big institutions, riled by GSK's poor share price
performance and a string of corruption allegations, reportedly
want a change in either chairman or chief executive this year,
and Gent, who has said he will step down in 2015, is likely to
be the target of their efforts.
HOME RETAIL INVESTOR VETOES SALE OF HOMEBASE
A shareholder in Home Retail, Britain's biggest
household goods retailer, has vetoed a sale of its Homebase
business. Taube Hodson Stonex Partners said the private equity
firms that have been circling the retailer have left it too late
RBS EXPLORING SALE OF BOWLING ALLEY CHAIN
Royal Bank of Scotland has begun talking to advisers
about an auction of Bowlplex, a leading chain of bowling alleys
that it has owned since 2012.
THE SUNDAY TELEGRAPH
KEY TESCO INVESTOR CUTS STAKE
One of Tesco's largest shareholders, Harris
Associates, has cut its stake in the retailer from 3 percent to
1 percent in the past month. The chief investment officer of the
U.S. firm's international equity division said it wants to see a
clear and coherent strategy emerge quickly.
LIBERTY GLOBAL SEEKS SUPPORT FOR FULL TAKEOVER OF ITV
U.S. cable TV provider Liberty Global is
canvassing support from major shareholders in ITV,
raising speculation that it will enter a full takeover bid of
the British broadcaster.
RAC TO OFFER MEMBERS SHARES IN 2 BLN STG LISTING
Roadside recovery business RAC, owned by U.S. private equity
group Carlyle, is hoping to cash in on its large
membership base by including a retail offering in its 2 billion
pound ($3.3 billion) stock market listing expected in the next
ACTIVIST INVESTOR INCREASES NBNK STAKE, WANTS LEGAL
CHALLENGE AGAINST LLOYDS
Activist investor Crystal Amber has increased its stake in
NBNK. The Guernsey-based fund wants NBNK to launch
legal proceedings against Lloyds Banking Group next
month over the sales process of TSB, which fell apart
3I PREPARES BID FOR GORKANA
Private equity firm 3i is preparing a bid for media
information group Gorkana, which is for sale at around 200
million pounds. Gorkana, owned by private equity firm Exponent,
has also attracted interest from UBM, the business information
and events group, Germany's Unicepta and U.S. buyout house GTCR.
LENDER ALDERMORE HIRES LAZARD TO ADVISE ON FLOAT
Challenger bank Aldermore has added Lazard to the team of
advisers working on its expected stock market listing. The bank,
which specialises in lending to small and medium-sized
companies, has also recruited Credit Suisse and
Deutsche Bank for the listing.
THE MAIL ON SUNDAY
HMV TO TOPPLE AMAZON AS LARGEST MUSIC, DVD RETAILER
Music and video chain HMV is on the brink of toppling Amazon
as the UK's biggest retailer of CDs and DVDs less than
18 months after it was bought out of administration.
Amazon controls about 20 percent of the market for music and
DVDs, with HMV estimates indicating that it is now only 1
HARGREAVES LANSDOWN POISED TO APPLY FOR BANKING LICENCE
Financial services group Hargreaves Lansdown could
announce this week that it intends to apply for a full banking
licence to take advantage of growing inflows of client money,
according to Morgan Stanley analysts.
THE INDEPENDENT ON SUNDAY
G4S REPORTED TO GOVERNMENT OVER GUANTANAMO BASE CONTRACT
G4S has been reported to the British government by a
human rights group for accepting a contract to provide
janitorial services to the Guantanamo Bay U.S. naval base.
In a formal complaint lodged with the Department for
Business, Innovation and Skills, Reprieve said that by working
at the base G4S staff "may contribute to the ongoing human
rights violations" alleged to have been perpetrated there.
HBOS ACCUSED OF MISLEADING PUBLIC OVER 4 BLN STG RESCUE
Bailed-out British bank HBOS failed to tell investors that
it had received billions of pounds in loans from the Treasury
and the Bank of England in the filings for a 4 billion pound
rights issue in 2008, an investigation has found.
(1 US dollar = 0.6026 British pound)
(Reporting by Clare Hutchison; Editing by David Goodman)