Wednesday Papers: National Express to launch £375mln rights issue -- bid news and gossip

* National Express to launch £375 million deeply discounted rights issue

* Paulson & Co, the New York hedge fund, has disclosed a 2.08% stake in Cadbury

* Clearwire Corp of US to raise $1.564 billion from its current investors including Sprint Nextel and Time Warner Cable

* Qatar to sell up to half its Volkswagen pref shares for 1.6 billion to fund deals

* Independent News & Media strikes restucturing deal with bondholders

* British Car Auction has attracted bids from a clutch of private equity groups

* Observer newspaper to close three magazines.