WHAT THE OTHER PAPERS SAY THIS MORNING

THE TIMES

£2BN PRISONS SELL-OFF OPENS DOOR TO MASS PRIVATISATION
Seven private companies are bidding for £2bn of contracts to run nine English jails in what is being regarded as the first move towards the wide privatisation of the Prison Service. The American correctional services companies MTC and GEO are among the bidders.

FINANCIAL TIMES

RBS STAFF CONSIDER BUY-OUT OF ADVISORY BUSINESS
A group of dealmakers at Royal Bank of Scotland, including its head of corporate finance, are considering a management buy-out of its advisory business as the state-controlled bank looks to sell it or shut it down. The team includes John McIntyre, the bank’s head of corporate finance, who has advised companies such as Selfridges and Scottish & Newcastle.