PRESS DIGEST - British business - April 10

The Times

PRIVATE EQUITY FIRMS TRY TO TAKE 29.9 PERCENT STAKE IN M&B

CVC Capital Partners and Blackstone Group have made a joint proposal to Mitchells & Butlers (MAB.L: Quote, Profile, Research, Stock Buzz) to buy a stake of up to 29.9 percent in the restaurant and pub operator. Such a move would provide the operator with the fuel to drive its ambitious expansion plans. One analyst said the tone of Wednesday's trading update from M&B was "clearly designed to persuade suitors to sharpen their pencils".

RBS LAYS OFF 200 STAFF IN GLOBAL BANKING AND MARKETS

Royal Bank of Scotland (RBS.L: Quote, Profile, Research, Stock Buzz) has axed 200 jobs in its global banking and markets business this week. The staff were dismissed primarily in RBS's leveraged finance, real estate lending and securitisation operations. The decision is thought to highlight the continued downturn in the global financial markets rather than being due to the bank's merger with ABN Amro.

The Daily Telegraph

BAUGUR TELLS RIVAL MOSS TO GET KNOTTED

Baugur is likely to go ahead with its bid for Moss Bros (MOSB.L: Quote, Profile, Research, Stock Buzz) at the end of April, even though it was approached to sell its 29 percent stake in the retailer. Jon Asgeir Johannesson, Baugur's executive chairman, revealed that despite economic issues facing Iceland, the acquisition strategy of the company will remain unchanged. Johannesson said: "We are currently in the mood to buy the business, not to sell."

WEAK MARKETS DRAG CHARLEMAGNE DOWN