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What The Papers Said: A roundup of Sunday business stories

Sunday 25 July 1999 18:02 EDT
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The Restrictive Practices Court is to allow media companies other than BSkyB to show live Premier League football by upholding the League's right to negotiate for clubs while ruling against exclusive contracts.

Terry Leahy, Tesco's chief executive, has warned that Britain's retail giants could fall into foreign ownership if the Competition Commission's inquiry into their alleged monopolies continues.

The Government is to partly privatise the National Air Traffic Control Service, netting between pounds 300m and pounds 500m.

Guy Hands, Nomura's principal financier, is preparing a pounds 3bn bid for Allied Domecq's pubs after failing to reach agreement with Alchemy and Whitbread to top Punch's pounds 2.75bn bid.

Trinity, the media group, is to press on with its pounds 1.3bn merger with Mirror Group, despite having to sell the Belfast Telegraph.

Cable & Wireless is to sell Cable & Wireless Communications' retail operations to NTL for pounds 8bn and its One2One stake to Deutsche Telekom for over pounds 8bn.

The US investment bank Merrill Lynch is to step up its attack on the UK retail banking market by opening more branches in main cities.

NFC is to sell Pickfords, the removals company, to its US rival North American Van Lines. NFC will hold a stake in the enlarged company and earn around $400m from the deal.

BT is to unveil a pounds 5bn plan to deliver advanced telephony, data and video services through upgrades to existing telephone wires provided by Alcatel of France and Fujitsu of Japan.

Aegon, the Dutch financial services group, is in exclusive talks with Sun Life & Provincial Holdings to buy its Guardian Royal Exchange insurance business for around pounds 700m.

Britannic Assurance is set to acquire Britannia Building Society's life insurance arm and a 50 per cent stake in its asset management business.

Banks are set to earn an unprecedented pounds 22bn this year as they post record interim profits of pounds 10bn in the next fortnight.

Glaxo Wellcome is hoping the US Food and Drug Administration will this week approve Relenza, its new flu treatment to be launched in the UK this autumn.

The Government is urging the water industry regulator Ian Byatt to dilute proposals that would cut some household bills by 20 per cent.

Trinity received six offers for the Belfast Telegraph within as many hours following the DTI's announcement it must sell it if it buys Mirror Group.

Severn Trent is among several water companies expected to fall prey to predators after this week's pricing review.

France Telecom and NTL may launch a joint bid for One2One, which is being sold by co-owners Cable & Wireless and MediaOne.

Marks & Spencer is to accept credit payments when it launches an Internet sales site in October ahead of introducing credit card systems in stores next year.

Tax office log-jams caused by tougher pay regulations are threatening to halt billions of pounds worth of building projects.

C&W and MediaOne will this week decide whether to float One2One or sell it to Deutsche Telekom or Mannesman for pounds 11bn.

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