PRESS DIGEST - Financial Times - Nov 9

BOOTS WAITS ON SWEDISH RESULT

Alliance Boots is among the bidders poised to learn this week whether it has been successful in an auction for part of Apoteket, Sweden's monopoly pharmaceuticals retailer. According to people familiar with the situation, Alliance is bidding for one or two large clusters of pharmacy stores being sold by the Swedish government as part of its privatisation of the chain. The auction provides a rare chance for international investors to enter an underdeveloped pharmacy market in a wealthy European economy.

CADBURY EXPECTED TO RECEIVE HOSTILE BID

It is thought that Kraft (KFT.N) will go hostile with its takeover of Cadbury (CBRY.L), which will meet on Monday to discuss the U.S. food group's offer. Kraft is likely to stick close to the terms of its original 10.2 billion pound proposal, but Cadbury's investors have said they are not prepared to consider an offer seriously unless it is above 8 pounds a share. Sources close to Kraft say it is under no pressure to significantly raise its original offer, which proposes 300 pence in cash and 0.2589 new Kraft Foods shares per Cadbury share.

VODAFONE PREPARES FRESH ROUND OF COST CUTTING AS REVENUES FALL

The chief executive of Vodafone (VOD.L), Vittorio Colao, is gearing up for a fresh round of cost-cutting, in an attempt to offset plummeting revenue at the mobile phone operator. Shares in Vodafone have underperformed the FTSE 100 by 16 percent this year, partly due to concern about how the group's underlying revenue at most of its core European businesses is falling. Analysts at Vodafone's broker, Citi, say the group could increase its target of reducing operating expenses to 1.5 billion pounds by March 2011, from 1 billion pounds.

EMPLOYERS COOL ON JOB PROSPECTS

According to a survey published today by the Chartered Institute of Personnel and Development and KPMG, the jobs market remains weak and could relapse. The news comes despite of evidence showing employment prospects are deteriorating less rapidly than at any time since the recession began. The survey of 700 employers suggests the outlook remains bleak in the manufacturing and public sector, but looks brighter in private-sector services.

LABOUR OPTS FOR NUCLEAR OPTION ON ENERGY