June 29, 2014 / 12:40 PM / 3 years ago

PRESS DIGEST-Sunday British Business-June 29

LONDON, June 29 (Reuters) - 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 Telegraph

ABBVIE APPROACH SCUPPERS SHIRE‘S BID FOR RIVAL U.S. pharmaceutical firm AbbVie’s approach to Shire scuppered the London-listed firm’s own plan to buy rival rare disease business NPS Pharmaceuticals. Shire had been lining up a $5 billion financing package for the deal, according to a previous report, but the approach from AbbVie triggered a takeover situation, which restricts deals that could be seen as a “frustrating action”.

POLICE TO MEET REGULATOR OVER WONGA FAKE LETTER SCANDAL

Regulator the Financial Conduct Authority will meet City of London Police this week to discuss Wonga, the payday lending firm, as the force looks into whether there is enough evidence to start a criminal investigation into fake legal letters sent out by the company from 2008 to 2010.

ADDISON LEE OWNER CARLYLE WEIGHS SALE

Private equity company Carlyle has appointed Credit Suisse to weigh up a sale of the taxi operator, just over a year after it took control of the business. A refinancing of the business is also possible. The newspaper said Carlyle declined to comment.

UNILEVER PUTS BRYLCREEM ON THE BLOCK

Male hair grooming product Brylcreem has been put up for sale by Unilever in the Anglo-Dutch company’s next stage in streamlining its portfolio of brands. The company is working with PwC to explore sale options for the business.

Sunday Times

ANGLO AMERICAN PLANS PLATINUM MINES SALES

Miner Anglo American is putting some of its South African platinum mines up for sale in a move by chief executive Mark Cutifani to dispose of underperforming assets. Anglo has lined up RMB, the South African investment bank, to run the auction.

ABBVIE BOSS TO WOO INVESTORS FOR SHIRE BID

Rick Gonzalez, the chairman and chief executive of American drug company AbbVie, which is trying to buy London-listed Shire,will fly into London this week to court investors amid expectations of an increase in his 27 billion pounds ($46 billion) takeover proposal.

The Mail On Sunday

BRITISH GOVERNMENT SCRAPS LAND REGISTRY SELL-OFF

Plans to privatise the Land Registry, the body that records land and property ownership, have been scrapped by the Government after industrial action by civil servants, the need for new legislation and the complexity of such a deal, according to a source. Reports have suggested that the Government could have raised about 1.2 billion pounds from entering a deal with a joint venture company, and more from a complete sell-off. ($1 = 0.5877 British Pounds) (Reporting by Paul Sandle)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below