PRESS DIGEST- Financial Times - May 20

Reuters

May 20 (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

EUROPE BANKS FACE CLAMPDOWN ON DEBT SALES

ASTRA INVESTORS SPLIT ON PFIZER'S REJECTION

RSA TO SELL CANADIAN UNIT NORAXIS

LSE NEARS $3 BLN RUSSELL DEAL

MITIE WINS CONTRACT TO RUN UK IMMIGRATION CENTRES

Overview

Europe banks are expected to face a clampdown on debt sales as regulators fear investors not aware of hazards of buying debt that is not protected by deposit guarantee schemes.

AstraZeneca Plc shareholders have been split on the company's rejection of Pfizer's final offer of 55 pounds a share, with some arguing that the management has betrayed its shareholders while others praising the board for believing in long-term prospects.

British insurer RSA Insurance Group Plc said on Monday it had reached agreement to sell its majority-owned Canadian brokerage business - Noraxis Capital Corp - to U.S. insurance brokerage Arthur J. Gallagher & Co for C$500 million ($460.60 million).

The London Stock Exchange Group Plc has emerged as the preferred bidder for asset management group Russell Investments according to people familiar with the discussions.

Mitie has won an eight-year contract to run immigration centres near Heathrow for the Home Office, making the FTSE-250 outsourcer responsible for a third of Ministry of Justice's immigration estate.

(Compiled by Aashika Jain in Bangalore; Editing by Eric Walsh)

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