September 17, 2012 / 12:21 AM / 5 years ago

PRESS DIGEST - British business - Sept 17

LONDON, Sept 17 (Reuters) -

TELEGRAPH

BAE AND EADS MERGER HOPES HIT BY GOVERNMENT VETO WARNING

The plan to issue ‘golden shares’ to key governments in the BAE EADS tie-up could fall foul of European law as half the firm’s business would be civil aviation, not defence, lawyers have warned.

The companies hope to persuade Brussels that the group would still be critical for national security, sources close to the deal said.

MAYOR ORDERS CONSULTANTS TO STUDY OPTIONS FOR HEATHROW

The Mayor of London Boris Johnson has hired consultants WS Atkins, accountants Ernst & Young and aviation experts Leigh Fisher to look at alternative uses for Heathrow as part of his case for developing a new hub airport in the Thames Estuary.

XSTRATA BOARD WARMS TO GLENCORE‘S 36 BLN STG OFFER AS DECISION NEARS

Xstrata directors are expected to back Glencore’s revised offer this week. A decision could be announced as early as Wednesday, said sources close to the company.

SPORTS DIRECT CLOSES IN ON JJB ‘PRE-PACK’ TAKEOVER

Sporting goods retailer Sports Direct is poised to take over struggling rival JJB Sports under a ‘pre-pack’ administration.

Other companies believed to be interested include OpCapita and France’s Decathlon.

TIMES

ADMIRAL WARNS OF THREAT TO SECURITY FROM BAE MERGER

The former First Sea Lord, Admiral Lord West, warned that the BAE-EADS deal would cost jobs and threaten Britain’s security if it went ahead, with BAE’s co-operation with the U.S. on defence being damaged.

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