PRESS DIGEST - British Business Press - Sept 6

The Times

UNION ACCUSES M&S OF SNOOPING ON STAFF AS WHISTLEBLOWER HOLDS CONFERENCE

The alleged whistleblower sacked by Marks & Spencer (MKS.L: Quote, Profile, Research, Stock Buzz) for disclosing to the media its plans to cut redundancy packages is holding a press conference on Sunday at the Trades Union Congress in Brighton. The GMB union that represents the employee said it will also launch a campaign accusing M&S of "snooping" on staff, a move which sparked a furious reaction from the high-street retailer. "We are astonished by the actions and allegations of the GMB," M&S said in a statement.

INFORMA PAYS PENALTY FOR REJECTING LATEST BUYOUT BID

Shares in the media group Informa (INF.L: Quote, Profile, Research, Stock Buzz) slumped nearly seven percent after its rejection of a 1.9 billion pound offer from a consortium comprising Providence Equity, Carlyle and Blackstone. The private equity groups pitched their bid at 450 pence a share, significantly less than a previous proposal of 506 pence a share. But a source close to the consortium said it would have difficulty raising its offer significantly. "It was a miracle that the deal got funding at this level in the current market," the source said. The shares closed down 28.75 pence at 385.75 pence.