PRESS DIGEST – British business – Oct 18

The Daily Telegraph
GMG AND APAX LOOK TO EXIT AUTOTRADER

Guardian Media Group [GRMDG.UL] and Apax Partners are
preparing the sale or float of their 2 billion pound Trader
Media Group.

ALLIANZ LINES UP FOR CHANNEL RAIL SALE

Allianz has submitted a last-minute bid for the Channel
tunnel rail link, adding a new name among lined up suitors.

AIA TO PAY $300MLN IN FLOTATION FEES

Banks underwriting Asian insurer AIA’s $35 billion float
will pocket $308 million in fees at the middle of the price
range.

BUSINESSES WARNED ON JOB CREATION

Private businesses have an obligation to “step up to the
plate” and take Britain out of economic purdah, Peter Spencer,
chief economic adviser to the Ernst & Young ITEM Club, has said.

The Times

BHP BILLITON, RIO TINTO TO ABANDON MERGER

Mining groups BHP Billiton (BHP.AX: ) and Rio Tinto (RIO.L: )
are set to abandon a 70 billion pound merger of their Australian
iron ore operations after the European Commission indicated it
would block the deal.

BAE SYSTEMS ASKS TO RENEGOTIATE CONTRACTS

BAE Systems (BAES.L: ), the defence group, is being pressured
to renegotiate contracts and offer better value as part of the
UK government’s strategic defence review.
LIVERPOOL FC SALE CLEARED

Royal Bank of Scotland (RBS.L: ) has cleared the way for the
sale of Liverpool Football Club by writing off 30 million pounds
of debts that it was owed.

The Guardian

FSA LOCKS HORNS WITH EDITORS ON INSIDER TRADING

The Financial Services Authority has written to newspaper
editors defending recommendations that urge companies to record
conversations between executives and journalists.

(Summary compiled by Reuters)

PRESS DIGEST – British business – Oct 18