PRESS DIGEST- Financial Times - May 1

Reuters

May 1 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

GSK PLAYS DOWN PROSPECT OF WHITE KNIGHT BID FOR ASTRAZENECA

(http://link.reuters.com/cad98v)

RECKITT BENCKISER NO LONGER IN TALKS TO BUY MERCK UNIT

(http://link.reuters.com/bad98v)

VIACOM TO BUY CHANNEL 5 FOR 450 MLN STG

(http://link.reuters.com/xyc98v)

RIO TINTO SUES VALE AND BSGR OVER GUINEA MINE

(http://link.reuters.com/dad98v)

MICROSOFT'S XBOX ONE TO GO ON SALE IN CHINA

(http://link.reuters.com/fad98v)

Overview

GlaxoSmithKline's Chief Executive Andrew Witty all but ruled out a white knight bid for rival drugmaker AstraZeneca on Wednesday by reiterating scepticism on big takeover deals in the sector.

Britain's Reckitt Benckiser, which makes Durex condoms and Nurofen, has ended talks to buy Merck's consumer healthcare unit, paving the way for a rival to land the business behind Coppertone sun tan lotion.

Media baron Richard Desmond is planning to sell British broadcaster Channel 5 for 450 million pounds ($759.85 million) to U.S.-based Viacom, in a move that will see him receive more than four times his initial investment.

Rio Tinto is taking Vale and BSG Resources to court, alleging the rival mining groups were part of a conspiracy to steal its rights to an African iron ore deposit worth billions of dollars.

Microsoft's Xbox One is going to be the first foreign games console to be sold in China, after a 14-year ban on the devices was lifted in January. ($1 = 0.5922 British Pounds) (Compiled by Richa Naidu in Bangalore; Editing by Edwina Gibbs)

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