Wednesday Papers: AIG has option to sell more than half of AIA - tips, comment and bids

(Updated with Telegraph share tips)

Financial Times

* A special clause allows AIG to sell more than 50% of AIA in the Hong Kong listing of the Asian life assurance group.

* VTB, the Russian state-controlled bank, has confirmed it is in talks to sell a 10% stake to a pool of investors that includes TPG and sovereign wealth funds from the Gulf and Asia.

* Rio Tinto has conceded that regulatory obstacles are mounting against its ambitious plans to merge its Australian iron ore operations with those of BHP Billiton, its competitor.

* Open warfare broke out at Liverpool FC after the club announced that plans for directors to discuss two “excellent” offers to buy the Premier League club were preceded by the current US owners’ efforts to remove two independent board members.

*  Trading Emissions, the Aim-listed specialist, is divesting itself of chunks of its portfolio of carbon credits as the markets price in the risk that current forms of carbon trading may not be available beyond the next 18 months.

The Lex Column

* Jérôme Kerviel - Legal forms of irresponsibility have caused more damage than rogue traders.

* Greece - Greeks can be a cynical bunch; investors should be, too.

* US Postal Service - Obstinate regulators push the service closer to insolvency.

* Pandora - Danish jewellery maker’s IPO charms the market.