British Sunday business press - May 4

The Mail on Sunday

BUYERS LINING UP FOR A SLICE OF ACTION AT NOBU

Exclusive celebrity haunt Nobu, the sushi restaurant franchise, has attracted at least six potential buyers ahead of Monday's deadline for the first round of bidding. Suitors are thought to include Indian financier LDF, rag trade entrepreneur Richard Caring and DIC, the Dubai government's investment arm. Bankers from Goldman Sachs are advising and will look at proposals for stake ranging from 51 percent to 75 percent, valuing Nobu at up to 250 million pounds.

GUARDIAN APOLOGY OVER TESCO 'TAX DODGE' CLAIM

The ongoing legal battle between Tesco(TSCO.L) and The Guardian took a fresh twist on Saturday as the newspaper published an apology to the supermarket group for alleging in a front page story in February that it had avoided paying up to one billion pounds in corporation tax. The supermarket giant began legal proceedings seeking damages for "libel and malicious falsehood". The Guardian said on Saturday night: "It was always our intention to be accurate and honest and that is why we have set the record straight." Tesco appeared to be unmoved, saying: "The Guardian has a serious case to answer and we look forward to receiving their defence."

TENSIONS MOUNT AT BARCLAYS

Sources close to Barclays(BARC.L) said over the weekend that the bank's boss John Varley faces a grilling from independent directors at the next board meeting over the departure last week of Paul Idzik, the chief operating officer. Idzik's sudden resignation revealed the scale of his disillusionment with the slow pace of change at the bank and his frustration with the "over-mighty" Bob Diamond, whose Barclays Capital division is "a kingdom within a kingdom", according to one source close to the bank.

The Sunday Times

MEXICAN BILLIONAIRE SLIM BUILDS STAKE IN THE INDEPENDENT

Carlos Slim, the world's second richest man, has taken a stake in The Independent newspaper's parent company, Independent News and Media. The Mexican telecoms billionaire's arrival on the shareholder register adds a further twist to an already complex tussle between warring Irish businessmen Sir Anthony O'Reilly, whose family controls 28 percent of INM, and Denis O'Brien, who has been needling his rival for over two years as he has built up a 21 percent stake. Slim has so far built a one percent stake, but is likely to increase it further.

RBS OFFERED DEAL FOR DIRECT LINE IN SPAIN