April 27, 2018 / 12:26 AM / 5 months ago

PRESS DIGEST- Financial Times - April 27

April 27 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

- Legal & General moves into UK affordable housing business on.ft.com/2HupynJ

- Takeover Panel appoints Simon Lindsay as next director-general on.ft.com/2Hvag1Y

- UK rail franchise system ‘broken,’ says spending watchdog on.ft.com/2r2GVke

- Activist fund Elliott buys British bookstore Waterstones on.ft.com/2r42Ebp

Overview

- UK insurer Legal & General Group Plc launched its affordable housing business, Legal & General Capital, which will develop and buy homes and also manage properties for “affordable” rent built by other developers.

_ UK takeover regulator appointed Citigroup Inc’s current head of UK M&A, Simon Lindsay, as its next director-general.

- UK’s public accounts committee criticised the Department for Transport’s “completely inadequate” management of two important franchises, and also criticised Network Rail, Govia Thameslink and Virgin Trains East Coast.

- Elliott Advisors, the UK arm of Paul Singer’s fund, bought a controlling stake in British high street stalwart Waterstones, raising the possibility of another private sale or a stock market flotation in the medium term. (Compiled by Bengaluru newsroom)

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