PRESS DIGEST - British business - June 9

The Times

JD SPORTS SELLS STAKE

JD Sports Fashion (JD.L) is to offload its 10 percent holding in competitor JJB Sports (JJB.L), in a move that is expected to further loosen the web of cross-shareholdings in the sportswear sector. The news about the sale comes just two weeks after Sports Direct (SPD.L) sold its holding in JJB. Sports Direct keeps hold of a 13 percent stake in JD, which in turn retains a small holding in its bigger competitor.

I'LL PROVE MYSELF AT BOOTS, HORNBY TELLS CRITICS

Alliance Boots [ABN.UL], the international healthcare group, has confirmed it will appoint Andy Hornby, the former HBOS chief executive, as its new head. The 42-year-old executive, who will join the group on July 1, vowed on Monday to confound his critics. "I just want to get out and prove myself. I just want to crack on," he said. Alliance Boots cited his "wealth of retail and marketing experience", while Stefano Pessina, the group's biggest single shareholder praised his "integrity." Hornby is believed to have rejected at least two other job offers.

IBERDROLA TO LEAD FIELD IN RACE FOR SELLAFIELD SITE

Iberdrola (IBE.MC), owner of ScottishPower, has emerged as one of the potential bidders for Sellafield, Europe's most heavily contaminated industrial site. The sale of the world's first commercial nuclear power plant, where about 10,000 people are employed, follows April's auction of three other government-owned sites for new nuclear plants to European utilities for a total of 387 million pounds. It is still unclear whether Sellafield will attract sufficient interest to ensure a formal auction. Meanwhile, shareholders in Centrica (CNA.L), owner of British Gas, supported overwhelmingly on Monday an acquisition of a 20 percent stake in British Energy from EDF (EDF.PA).

The Daily Telegraph

EDUCATION GROUP BPP ACCEPTS APOLLO BID

A U.S. joint venture backed by Apollo Group and Carlyle has agreed to buy BPP (BPP.L), the legal and financial training group, in a deal worth 303.5 million pounds. David Sugden, BPP's chairman, said the 620 pence-a-share bid, 70 percent higher than where shares were trading ahead of the offer, was good for investors. A number of shareholders have been holding out for a potential counter offer from Pearson (PSON.L), the education and media group, which is speculated to have been interested. Shares in BPP, which is Europe's biggest accountancy training group, rose 50.5 pence to 617.50 pence.

AMERY'S SHOE-IN

Amery Capital has announced the acquisition of Oliver Sweeney, the footwear and accessories group. The retail investment business, which was founded by Maurice Helfgott, a former Marks & Spencer director, has reached an agreement to buy the business from administrator PricewaterhouseCoopers.

ONLINE LENDER NETS 14 MILLION POUNDS FROM FACEBOOK BACKERS

Online short-term lender Wonga.com has netted 14 million pounds from the venture capitalists who provided early funding for Facebook for a "significant minority" equity stake. The British group claims to have created technology which instantly assesses clients' creditworthiness, resulting in an industry-beating default rate of less than 10 percent. Wonga, which received most of the new cash from Accel Partners and Greylock Partners, expects to secure about 15 million pounds in revenue in 2009, and is already turning a profit.

The Independent

THRESHERS' OWNER ISSUES TRADING WARNING