Reuters: Regulatory News: PRESS DIGEST - SUNDAY BRITISH BUSINESS - APRIL 14

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PRESS DIGEST - SUNDAY BRITISH BUSINESS - APRIL 14 Apr 14th 2013, 13:47 LONDON, April 14 | Sun Apr 14, 2013 9:47am EDT LONDON, April 14 (Reuters) - British newspapers reported the following business stories on Sunday: The Sunday Times TOP SHAREHOLDERS PRESSURE M&S TO CUT SPENDING Several of the ten largest investors in retailer Marks & Spencer say the group should rein in an expensive turnaround plan if it cannot deliver quick results. CEO Marc Bolland's three-year revival plan involves improving IT and distribution systems, refurbishing stores and opening more shops abroad. UNITED UTILITIES STRENGTHENS DEFENCES United Utilities, Britain's largest listed water company, has hired investment bank Goldman Sachs to join its team of advisers, strengthening its defences amid recurring rumours of a takeover bid. Overseas infrastructure funds have snapped up investments in British water companies in recent years, lured by their reliable income streams. With only three listed water companies left, this has put United Utilities in the spotlight as a possible bid target. NATIONWIDE PLANS 500 MLN STG BOND Britain's biggest building society, Nationwide, is considering raising as much as 500 million pounds to shore up its capital base. Nationwide is among the best-capitalised lenders under the current system, but could face restrictions on its ability to lend under new rules. CVC CONSIDERS BID FOR BETFAIR CVC Capital Partners is in the early stages of preparing an offer for online gambling group Betfair. CVC has been interested in the betting and gaming industry, eyeing targets including Ladbrokes in the past. LITTLE CHEF ON THE MARKET Motorway restaurant business Little Chef is being put up for sale by R Capital, the group which bought it out of administration in 2007 after it collapsed with huge losses. KPMG has been hired to find a buyer. The Sunday Telegraph FOOTBALL TALKS BETWEEN BT AND BSKYB FAIL Talks between BT and BSkyB over sharing Premier League football matches have stalled, meaning fans could have to pay up for both to view all games. The two companies had discussed content sharing, but could not agree on the terms. NUCLEAR INDUSTRY WARNS OF DANGERS OF DEADLOCK OVER NEW PLANT The Nuclear Industry Association has warned Britain's energy security will be at risk and future generations will face higher bills, unless the government can agree a deal with EDF Energy to build Britain's first nuclear power plant in a generation. The intervention from John Hutton, chairman of the Nuclear Industry Association, comes ahead of price talks between senior EDF executives and government representatives on Monday. Hutton says the project was costing EDF - which has already spent a billion pounds - a further one million a day. EDF was given planning approval by the government last month, but will make its investment decision on the plant once it as agreed a guaranteed electricity price for the new project. VIRGIN ACTIVE FUELS IPO SPECULATION Gym chain Virgin Active, owned by private equity group CVC and Richard Branson's Virgin group, is meeting banks in South Africa, its most profitable market, fuelling talk of a potential stock market listing. A spokesman described the meetings as an "exploratory exercise" and said no IPO plans were underway. Sunday Express PWC NETS 600 MILLION STG IN FEES FROM LEHMAN PwC, named administrator of Lehman Brothers' UK and European operations after the U.S. parent company collapsed in 2008, has earned fees of more than 600 million pounds. Insolvency experts say the eventual liquidation could take at least another decade. The liquidation of Bank of Credit and Commerce International (BCCI) took 21 years and earned liquidator Deloitte 245 million pounds. PARTNERSHIP ASSURANCE SEEKS MORE BANKS FOR IPO Life insurer Partnership Assurance is preparing to hire additional investment banks to advise on a stock market flotation this summer. Partnership's owner, private equity group Cinven, already has Bank of America Merrill Lynch and Morgan Stanley working on the listing. Mail on Sunday JAEGER EYES FORMER DEBENHAMS BOSS AS CHAIRMAN The owner of fashion chain Jaeger, private equity group Better Capital, is considering a list of candidates for the role of chairman that include Terry Green, former head of department store Debenhams. Link this Share this Digg this Email Reprints

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