What the other papers say this morning - 19 September 2013


Criteo seeks $800m Nasdaq IPO
Criteo, a French digital advertising company that delivers online ads for brands including Orange and Expedia, has filed for an initial public offering in the US that could value the company at $800m. The flotation will provide an important test of investor demand for the advertising technology sector, where hundreds of small companies have emerged to take advantage of a shift towards digital advertising.

Starbucks wants out of gun debate
Gun-toting coffee drinkers will have to think twice before visiting Starbucks for their caffeine fix after the US chain, which has been a reluctant hero of gun rights advocates, asked customers to leave their firearms at home. Howard Schultz, chief executive, wrote in an open letter that Starbucks and its employees “have been thrust unwillingly into the middle of [the US gun] debate”.

Grand Theft Auto breaks records
Grand Theft Auto V has broken the sales record set last year by Activision Blizzard’s Call of Duty to become the fastest-grossing entertainment franchise in the world. Take-Two Interactive, which publishes the GTA series, said on Wednesday that the latest instalment of the violent crime saga had generated sales of more than $800m, exceeding analysts’ expectations after rave reviews.


Rivals await RBS branch sale verdict
Royal Bank of Scotland is in the final stages of deciding on a buyer for 315 of its branches and may tell the victor today. The race is understood to be between two rival private equity bids, with a third group of British investors, led by Tesco’s former finance directorhaving fallen away.

Foxtons set to go at £650m
Demand for the flotation of the London estate agency Foxtons has been so intense because of the capital’s property boom that seven buyers are understood to be fighting for every new share. One banker said this meant that Foxtons should achieve the higher end of the expected price.

The Daily Telegraph

Dorchester owner buys Rome hotel
One of Rome's most celebrated hotels has been bought by the owner of London's Dorchester in a deal worth an estimated €105m (£87.8m). The Hotel Eden, which became the Britain's military command HQ after the Second World War, was bought by the Dorchester on Wednesday.

Yammer execs in Microsoft exodus
Four Yammer executives have left the company 15 months after its $1.2 billion acquisition by Microsoft, to head up San Francisco-based enterprise software company Fuzebox. Fuzebox has named David Obrand, Yammer’s former Chief Customer Officer, as chief executive.


China Huishan Dairy Plans $1.3bn IPO
The Chinese milk producer, in which Hong Kong tycoon Cheng Yu-tung was an early investor, has secured three cornerstone investors for the IPO and aims to sell 3.79 billion shares at between 2.28 Hong Kong dollars ($0.30) and HK$2.67, according to people familiar with the matter.

Total may sell off more assets
French oil giant Total SA is considering selling more assets to finance an aggressive investment push. The company may go beyond an existing plan calling for selling up to $20 billion in noncore assets by 2014, Total Chairman and Chief Executive Christophe de Margerie said.