PRESS DIGEST – British business – March 4

The Daily Telegraph

BSKYB SHAREHOLDERS CALL BANKS FOR HELP

Major institutional investors in BSkyB (BSY.L: Quote, Profile, Research) are
considering appointing their own investment bankers to help them
secure a higher offer for the satellite TV group, which is the
subject of a proposed takeover by News Corporation (NWSA.O: Quote, Profile, Research).

HUHNE SAYS ’70S STYLE OIL SHOCK A REAL THREAT

The threat of an oil shock like that in the 1970s caused by
prices at $160 a barrel can no longer be ignored, Britain’s
energy secretary, Chris Huhne, has warned.

CABLE HINTS AT OVERHAUL OF PLANNING SYSTEM

Business Secretary Vince Cable lambasted Britain’s
“dysfunctional” and “distorted” planning rules, hinting at a
radical overhaul that could form a key part of the government’s
growth proposals in the Budget.

The Times
TWITTER SAYS FLOTATION NOT BEING DISCUSSED

Twitter has dismissed speculation that a fund run by JP
Morgan (JPEL_p.L: Quote, Profile, Research) was seeking to buy a significant share, saying
that the microblogging service was already making money and
would not seek additional funding.

The Guardian

HUNT APPROVES NEWS CORP PLAN FOR SKY NEWS

Culture Secretary Jeremy Hunt has approved News
Corporation’s plan to spin off Sky News, clearing the way for
its proposed 8 billion pound ($13.03 billion) purchase of the 61
percent of BSkyB it does not already own.

(Summary compiled by Reuters)
($1=.6141 Pound)