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Press Digest-Sunday British Business-Dec 21
December 21, 2014 / 1:42 PM / 3 years ago

Press Digest-Sunday British Business-Dec 21

LONDON, Dec 21 (Reuters) - British newspapers reported the following business stories on Sunday. Reuters has not independently verified these media reports and does not vouch for their accuracy. The Sunday Times SEARCHLIGHT CAPITAL TO BUY BILLBOARD AGENCY OCEAN Searchlight Capital Partners is in “very late stage” talks to buy billboard company Ocean Outdoor from LDC, the private equity firm owned by Lloyds Banking Group, according to City sources. HONG KONG‘S LI KA-SHING WEIGHS BID FOR TRAIN FLEET OWNER Hong Kong mogul Li Ka-shing is believed to be considering a bid for Eversholt Rail, which owns a fleet of about 3,500 trains. RICHARD DESMOND LOOKS INTO DAILY EXPRESS SALE Publisher Richard Desmond has asked advisers at Barclays to examine the possible sale of his tabloid the Daily Express. The Sunday Telegraph SFO TO QUIZ TESCO SUPPLIERS Major suppliers to Tesco’s UK business, such as Diageo and Unilever expect to be interviewed by Britain’s Serious Fraud Office for its investigation of accounting practices at the grocer. PRIVATE EQUITY FIRM BRIDGEPOINT ENTERS BIDDING FOR MOUCHEL Bridgepoint lodged a bid for Mouchel in recent weeks, competing with Keir Group to buy the outsourcing company, although the newspaper said the private equity firm’s bid was considered opportunistic and too low to be taken seriously. SANTANDER UK BOLSTERS CAPITAL POSITION AHEAD OF 2015 TESTS Santander UK has been handed 300 million pounds ($469 million) by its Spanish parent to bolster its capital ahead of tougher Bank of England stress tests in 2015. The bond, which Santander UK issued to its parent company on Dec. 2, converts to equity if the bank’s capital ratio falls below 7 percent. TAXI APP HAILO‘S LOSSES TREBLE Taxi-booking app Hailo’s losses trebled to 21.6 million pounds in the year to Dec. 31 2013, as it invested in technology to fight competition from new entrants such as Uber. BRITAIN‘S FCA WANTS BONUSES TO FUND FINES The Financial Conduct Authority is reviewing the bonus pools of Britain’s biggest banks and the UK subsidiaries of foreign banks with a view that payouts should reflect the recent penalties for foreign exchange rigging. ($1 = 0.6398 pounds) (Reporting by Paul Sandle; Editing by Alison Williams)

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