Dec 3 The following corporate finance-related stories were reported by media: * Swiss bank UBS AG is close to a settlement with U.S. and British authorities and is expected to pay more than $450 million over claims that some of its employees submitted false Libor rates, the New York Times reported. * It will take a decade to fully return Royal Bank of Scotland to the private sector, the state-owned lender has predicted, according to the UK's Times newspaper on Monday. The bank plans to be ready to start paying dividends in late 2014, the Times reported, without citing a source. * HSBC is planning to sell four sub-prime loan portfolios worth a total of $2.7 billion in the next year, with hedge funds already expressing an interest, the Telegraph reported. () * Google is facing the prospect of a multi million-pound tax bill in the United Kingdom after Revenue & Customs opened a review into the internet company's tax returns for the past six years, the Times reported. () * Italian airport operator SEA SpA has cancelled plans to list on the Milan stock exchange after weak take-up by investors and bickering among the main shareholders about the price. () * Cerberus Capital Management LP, working on an acquisition of Supervalu Inc has indicated it is willing to pursue multiple options for the troubled grocer, including a deal to buy Supervalu's entire business and another to purchase its Albertsons stores, the Wall Street Journal reported. ()
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Greece's combative finance minister resigned on Monday, removing one major obstacle to any deal to keep Athens in the euro zone after Greeks voted resoundingly to back the government in rejecting the austerity terms of a bailout. Full Article | Greece a flashpoint for Europe?