SKY has emerged as potential kingmaker in a looming £9 billion bid battle between private equity giants for mobile operator O2, The Sunday Telegraph reports. The pay-TV company is being courted by at least five buyout specialists seeking its heavyweight backing for their bids, according to City sources.
The paper also reports that concerns are growing about mounting Qatari influence at International Airlines Group after the Gulf state's airline boosted its stake in British Airways' parent company for the second time in the space of a few weeks.
BT is starting the search for a new chairman as Sir Michael Rake prepares to stand down after almost a decade at the helm, The Sunday Times reports. The 68-year-old is expected to quit by September 2017, the tenth anniversary of his appointment.
The paper also reveals that two rivals vying to buy Tata's Port Talbot steelworks are in talks to join forces ahead of today’s bidding deadline.
Ladbrokes and Coral could be forced to sell up to 400 betting shops by the competition regulator if the £2.3bn merger of the two bookmakers is to go ahead, according to The Observer.
In other City news, it reports that a series of new banking disclosure measures announced last week to make account switching easier are intended to save banking customers £1bn over five years.
The Scottish Mail on Sunday reports that the famous staff bonuses at John Lewis could be hit if Britain quits the EU. A Brexit vote could damage the business and cut earnings, according to sources close to the group.
Meanwhile, administrators for BHS are under pressure to sell the chain within two weeks amid fears the retailer could soon run out of stock.
Fish and chip chain Harry Ramsden’s is returning to Scotland’s main cities as it gears up for what chief executive Joe Teixeira describes as “rapid” growth north of the Border, reports Scotland on Sunday.
Speaking before this week’s official opening of outlets in the Royal Mile and South Queensferry, Mr Teixeira said Harry Ramsden’s was in discussions about “a number” of further locations in Scotland, and hopes to open at least two more by the end of the year.
The paper also reports that Splatform, a ‘freeform’ construction toy created by Dunfermline-born Euan Lind, could be in the running for a share of £1m if it qualifies for the final round of the #VOOM competition run by Virgin Media Business.
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