PRESS DIGEST - British business - May 1

The Times

LES AMBASSADEURS SALE BACK ON THE TABLE

Putera Sampoerna, the Indonesian clove cigarette billionaire, is in advanced talks with a Las Vegas mogul over the sale of his Park Lane gaming venue, Les Ambassadeurs, for about 75 million pounds. Sheldon Adelson, the boss of Las Vegas Sands, is understood to be weeks away from agreeing a deal for the casino at a price that will surprise the industry, being a massive discount to the 115 million pounds Sampoerna paid London Clubs International for it two years ago. Industry sources confirmed a deal could be agreed by the end of the month.

SHELL LAMBASTED BY PARTNERS AS IT SEEKS EXIT FROM OFFSHORE WIND FARM

Royal Dutch Shell(RDSa.L: Quote, Profile, Research, Stock Buzz)(RDSb.L: Quote, Profile, Research, Stock Buzz) revealed on Tuesday that it plans to sell its 33 percent stake in the London Array project, the world's largest offshore wind proposal, which plans for as many as 341 wind turbines off the Kent and East Sussex coasts. A reappraisal of its UK and European assets had led to the decision, said Shell. The announcement provoked anger among its partners in the project. Paul Golby, chief executive of E.ON UK (EONG.DE: Quote, Profile, Research, Stock Buzz), said: "I believe at the very least, some delay to the project is now inevitable. While we remain committed to the scheme, Shell has introduced a new element of risk into the project which will need to be assessed".

HBOS LOWER ON FEARS OF MORE WRITEDOWNS