PRESS DIGEST - British business press - Aug 18

The Times

MWB AIMS FOR THIRD TIME LUCKY IN HOTEL CHAINS SALE

Marylebone Warwick Balfour (MWB) has begun to sound out potential purchasers of Malmaison and Hotel du Vin, its boutique hotel chains, with a combined asking price of more than 650 million pounds.

Bank of America has quietly started to re-contact interested parties in recent weeks. It is also understood to be canvassing interest in the two brands separately rather than as a single package.

It is believed MWB is looking for roughly 350 million pounds for the Malmaison chain, and at least 300 million pounds for the Hotel du Vin.

REGIONAL ITV CHANNELS FIGHT HIGHER BILL FOR PROGRAMMING

The chief executive of UTV, John McCann, has accused Michael Grade's ITV (ITV.L) plc of taking millions of pounds of benefits without sharing a penny with the ITV broadcaster in Northern Ireland.

Mr McCann said: "ITV plc gets subsidy benefits from repeating ITV1 shows on its digital channels and from on-air cross-promotion that we carry that run into the three-figure millions - and we've never seen any of that returned to us."

LEISURE

The Dark Knight, this summer's blockbuster Batman movie, is expected to provide a dramatic boost to Cineworld's (CINE.L) second-half trading.

The cinema chain is expected to announce its interim results on Thursday. The company also revealed in July that first-half revenues were up by 0.7 per cent on a year ago.

The Daily Telegraph

Manchester Airport Group (MAG) has confirmed that it was one of the bidders to have approached BAA FER.MC with an offer to buy Gatwick airport if the Competition Commission forces a sale of Gatwick airport this week.

The owner of Manchester airport told Sir Nigel Rudd, chairman of BAA, that it intends to buy London's second airport, ahead of the controversial report from the Commission.

Geoff Muirhead, chief executive of MAG, said: "The group is interested in acquiring assets that will add value for our shareholders. We have a strong track record when it comes to running airports."

ULYSSES IN NOVEL CARBON CAPTURE

Providence Resources (PRR.I) is launching a project that could lead to the first carbon capture scheme in the British Isles. Ton O'Reilly, the Irish oil and gas group's chief executive, is working with Star Energy Group, owned by Petronas of Malaysia, on the Ulysees Project.

The need for increased natural gas storage has emerged because of a rise in energy consumption in Ireland. The potential storage site is roughly eight miles offshore from Dublin, and one mile beneath the seabed.

VODAFONE DIALS UP GHANA PURCHASE

Vodafone (VOD.L) has completed the purchase of a 70 per cent stake in Ghana Telecommunications, Ghana's state-owned phone company.

Completion of the world's biggest mobile phone company's 483 million pound acquisition follows approval by Ghana's parliament. The government intends to retain the remaining 30 per cent holding, and the deal values Ghana Telecom at roughly 1.3 billion dollars.

The move is part of Vodafone's attempt to take advantage of the fact that the number of mobile phone subscribers in Ghana is growing by more than 55 per cent a year.

The Independent

FLOORS-2-GO FOUNDERS BUY BACK BUSINESS

The original founders of Floors-2-Go have bought the business from Kroll, the administrator, to save more than 200 jobs at the flooring specialist.

Robert Hodge and Richard Hodge have bought the business and 80 stores as a going concern, alongside their new FloorMyHome retail offer. Its administrator has made 91 of the employees redundant, and closed 41 of the 132 stores in the group, but had maintained trading.

Floors-2-Go was taken private by Alchemy Partners in a 52.4 million pound deal in December 2006.

STRONG PERFORMANCE BY AUTONOMY MAKES IT FAVOURITE FOR FTSE 100

Data search specialist Autonomy (AUTN.L) is set to join the FTSE 100 next month. It is currently in second place on the FTSE 250, but the company's strong financial performance and a string of large contract wins recently make it a likely favourite to move up to the premier league.

FTSE International is expected to confirm its promotion on Wednesday, which will come into effect on 10 September.

George O'Connor, Panmure Gordon analyst, said: "We would expect another earnings upgrade just on the back of the contract wins."