Wednesday Papers: Land Securities to buy Dundee shopping centre - tips, comment and bids

(Updated with Telegraph share tips)

Financial Times

* Land Securities is in exclusive talks to buy the Overgate shopping centre in Dundee for about £140 million from a consortium of investors led by Lend Lease, the Australian developer.

* Citigroup is looking to sell $500 million of private equity investments it made with the buy-out group CVC Partners in its latest effort to dispose of non-core assets.

* Several significant foreign retailers are jostling to acquire leading hypermarket and supermarket chains operated by Indonesia’s Matahari group.

* Westfield is expected to spin off its Australian assets into a separate company and raise more than A$3 billion in an equity offer.

* BHP Billiton’s $39 billion hostile bid for Saskatchewan-based PotashCorp faces a critical test on Wednesday with the Canadian government set to announce whether it will allow the deal to go ahead.

* Carlos Ghosn, chief executive of Renault and Nissan, said he would study an offer by Vladimir Putin to increase the carmaking alliance’s stake in Russian automaker Avtovaz to up to 50%.

* Ferrovial has stepped up its debt-reduction efforts by agreeing to sell Swissport in a SFr1.22 billion ($1.25 billion) deal with PAI, the French private equity firm.

* T Boone Pickens, the Texan oil billionaire, is one of three major shareholders backing a $4.4 billion management buy-out at Exco Resources.

The Lex Column

* BP: room for optimism - Hardened investors barely blink as spill cost rises by another $8 billion.