Saturday Papers: HSBC leads race for S Africa’s Nedbank - bid news and gossip

Financial Times

* HSBC has emerged as the frontrunner to buy a controlling stake in Nedbank, South Africa’s fourth-largest bank.

* BHP Billiton on Friday tabled formally its $39bn hostile take over for PotashCorp, the world’s largest listed fertilised producer.

* KNOC on Friday launched a landmark £1.87bn hostile takeover offer for Dana Petroleum. 

* HSH Nordbank's earnings before restructuring costs stood at €60m in the second quarter.

* New Delhi has approved imports of Chinese telecom equipment by Indian mobile operators Reliance Communications and Tata Teleser-vices.

* The government is pursuing negligence claims against law firms that advised Bradford & Bingley on hundreds of buy-to-let loans that are facing losses.

The Daily Telegraph

* Robert Swannell, the veteran investment banker, has emerged as the favourite to take over from Sir Stuart Rose as chairman of Marks & Spencer.

* Victims of the Gulf of Mexico oil spill will waive their right to sue BP staff and the energy major if they take money from the official $20bn compensation fund.

* RSA will need to raise its offer for parts of Aviva's general insurance business by about 10pc in order for a deal to go through, a leading investor in both the insurance groups has claimed.

* ENRC on Friday agreed to pay $175m for a majority stake in Camrose Resources, which has licences for copper assets in the Congo.