PRESS DIGEST – The Financial Times – July 16

The Financial Times

BP SPEEDS UP $20BN ASSET SALE TO BOOST FUNDS

BP (BP.L: ) has sped up the sale of up to $20 billion worth of
assets to boost funds and ease worries about its financial
health since the Gulf of Mexico oil spill in April.
http://www.ft.com/cms/s/0/0c1751fa-9051-11df-ad26-00144feab49a.html

CREST ADVISERS SHUN 350 MILLION POUND HORIZON BID

A 350 million pound ($537.3 million) approach from
investment vehicle Horizon (HZNA.L: ) to buy Crest Nicholson
[CRTNC.UL] is in doubt after Crest’s advisers said the offer
undervalued the UK housebuilder.
http://www.ft.com/cms/s/0/53dbde4e-9046-11df-ad26-00144feab49a.html

OCADO CONFIDENT OVER FLOATATION

Online grocer Ocado is proceeding with its planned IPO and
is confident of raising at least 400 million pounds ($614
million) despite calls to cut its price tag and Fairfield Energy
shelving its listing.
http://www.ft.com/cms/s/0/9886ab0c-9044-11df-ad26-00144feab49a.html

SAGE SET TO APPOINT NEW CEO

British accountancy software company Sage (SGE.L: ) is set to
appoint Frenchman Guy Berruyer as chief executive to replace
Paul Walker. Contracts are expected to be signed within days.
http://www.ft.com/cms/s/2/3e76f5b6-9032-11df-ad26-00144feab49a.html

NTT IN $3.2 BLN DEAL TO BUY DIMENSION DATA

Japanese telecoms operator NTT (9432.T: ) has agreed an
all-cash deal to buy Dimension Data (DDTJ.J: ), the UK-listed
South African technology services group, for $3.2 billion in a
move to expand NTT’s overseas revenue.
http://www.ft.com/cms/s/0/ab3159ac-8fe8-11df-91b6-00144feab49a.html

EASYJET FOUNDER WINS APOLOGY FROM O’LEARY

Ryanair (RYA.I: ) and its chief executive Michael O’Leary have
“unreservedly apologised” in the High Court to Stelios
Haji-Ioannou, founder of rival EasyJet over a series of ads on
Ryanair’s website.
http://www.ft.com/cms/s/0/7d33ba14-8fe7-11df-91b6-00144feab49a.html

(Summary compiled by Reuters)
($1=.6514 Pound)

PRESS DIGEST – The Financial Times – July 16