(Adds FT items on First Group, Oppenheimer)
LONDON, July 13 British newspapers reported the
following business stories on Sunday. Reuters has not
independently verified these media reports and does not vouch
for their accuracy.
BANKS CASH IN AS MOUCHEL TAKES 500 MLN STG ROAD TO MARKET
Mouchel, the road repairs and outsourcing company, is
believed to have appointed investment bank Rothschild to explore
a stock market flotation or trade sale.
The company, swallowed by its banks during the financial
crisis, is plotting a comeback that could value it at up to 500
BESTWAY EMERGES AS FAVORITE FOR CO-OP GROUP'S PHARMACIES
Bestway Group is expected to be named the preferred bidder
this week for the 700 pharmacies put up for sale by the
Co-operative Group. Bestway, which was competing
against the likes of Lloyds Pharmacy, Alliance Boots
and Carlyle, could pay about 600 million pounds.
GERMANY DRAWS UP DOSSIER TO CURB POWER OF GOOGLE, OTHERS
Germany's Federal Cartel Office has drawn up a 30-page
document with proposals that would muzzle Google if
Berlin judged it too influential.
ARRIVA TO JOIN BATTLE FOR EAST COAST RAIL LINE
Arriva, the international arm of Germany's Deutsche
Bahn, has submitted plans for a new service linking West
Yorkshire and Lincolnshire to London.
LLOYDS-OWNED TECH COMPANY EYES AIM LISTING
ULS Technology, 38-percent owned by the buyout unit of
Lloyds Banking Group, is working with stockbrokers
Numis on a possible AIM listing that could value it at up to 50
PATRON CAPITAL IN TALKS TO BUY PETROL STATIONS
Patron Capital, owner of the Powerleague football chain, is
in talks to buy 450 Murco petrol stations across Britain for up
to 200 million pounds.
PRIORY IN BID TO BUY RIVAL VOYAGE CARE FOR 400 MLN STG
Priory Group, owner of a chain of clinics known for treating
celebrities' addictions, is in talks to buy its smaller rival
Voyage Care for about 400 million pounds.
PAYDAY FIRMS FACE CAP AS REGULATOR ACTS TO CURB PROFITS
Britain's financial regulator, the Financial Conduct
Authority, is preparing to impose a cap on the amount of
interest charged by payday lenders in a bid to ease fears about
profits in the sector. As early as Tuesday, the watchdog will
set out details of an industry consultation which will lead to a
cap being in place by the start of next year.
FRANCE HAS OPTION TO UP STAKE IN EUROSTAR
France has an option to buy the UK government's 40 percent
holding in Eurostar if a process to find another buyer is
inconclusive, it has emerged.
Mail on Sunday:
CO-OP GIVES BANK 100 MLN STG TO HELP FILL 1.5 BLN SHORTFALL
The Co-operative Bank has received a 100 million pound cash
injection from its former parent as part of attempts to fill a
1.5 billion pound black hole.
BRITISH BUSINESS BANK TO PUT UP 10 MLN STG VIA PEER-TO-PEER
The government-owned British Business Bank will next week
begin lending 10 million pounds through peer-to-peer lender
FIRSTGROUP RULES OUT BREAKUP
FirstGroup PLC Chairman ruled out a break-up of the
UK-based bus and rail group, saying the demands from U.S.
activist investor Sandell Asset Management lacked financial
OPPENHEIMER EUROPE CONSIDERS ADVISORY ROLE
The European arm of U.S. financial services group
Oppenheimer & Co is considering entering the market for
independent corporate advice.
$3.5 BILLION PULLED OUT OF FIDELITY FUNDS
Fidelity and Capital Group, the largest active fund
managers, are losing market share to index trackers and niche
rivals as changing investor demands reshape the $30 trillion
mutual fund industry.
BOE EYES CURBS ON USE OF COCO BONDS
The Bank of England said it may limit the ability of a bank
to use coco bonds when calculating its leverage ratio, or even
prevent their use in the ratio altogether.
JIGSAW PLOTTING INTERNATIONAL EXPANSION
British fashion retailer Jigsaw, owned by the Robinson
family, plans to open three international stores this year as
part of its plan to expand in Asia, Europe and the Middle East.
CARE UK PLANNING 170 MLN STG INVESTMENT
Care UK, owned by private equity firm Bridgepoint, is
investing more than 170 million pounds in building 26 new care
homes, which will create more than 1,000 new jobs, as part of
major expansion plans.
BT TO RING THE CHANGES BY RE-ENTERING MOBILE PHONE MARKET
British Telecom is set to return to the mobile phones
market after a 13-year gap when it unveils its plans for a
business-focused service on Thursday.
(Reporting by Martinne Geller; Editing by Mark Potter)