Sunday Round-up: The main stories from yesterday's City pages

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The Independent Online
INDEPENDENT ON SUNDAY

The 1.9 million investors in British Gas could receive free shares in the company's trading arm as part of a plan to split it from the main business and float it separately on the stock market.

Portals, the paper maker in takeover talks with De La Rue, rents a large country estate to its chairman, Julian Sheffield, without disclosing the information in its annual report. Mr Sheffield may have to leave the pounds 5m estate if the takeover succeeds.

Potential underwriters are threatening to shun Eurotunnel's planned rights issue next month unless the new shares are priced at a discount of at least 30 per cent to the market price.

Buy Sidlaw. Hold Green King.

SUNDAY TELEGRAPH

Eurotunnel, the Channel Tunnel operator, is close to securing shareholder and bank support for its proposed pounds 1.5bn capital raising.

UK airports owner BAA plans to bid for its Australian opposite number, the Federal Airports Corporation.

Institutional investors want the flow of new issues to be controlled.

Buy Scottish Value Trust, Hozelock.

MAIL ON SUNDAY

Tesco has paid senior directors, including chairman Sir Ian MacLaurin, nearly pounds 750,000 in bonuses in a year when earnings per share fell 24 per cent. The bonuses are for hitting targets - which Tesco refuses to disclose - and follow share option sales which netted them pounds 1m.

The Department of Trade and Industry is probing Tottenham Hotspur, the quoted football club, and how former manager Terry Venables, now England's coach, raised pounds 3m to invest in the Premier League team. Former chairmen Paul Bobroff and Irving Scholar have been contacted by the DTI.

Hold N Brown. Sell Bluebird Toys.

SUNDAY TIMES

The Government has decided to refuse the Bank of England full independence, and retain control of moentary decisions.

Camelot, the consortium including Cadbury Schweppes, and Rank, the leisure group, have emerged as front runners to win the National Lottery contract.

Tips: Buy Fairline Boats; Hold Storehouse and Land Securities.

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