Papers in talks on a tie-up

THE publishers of the Daily Mirror and The Independent are in talks to unify functions such as IT, accounting and sub-editing to save money.

A deal could lead to one company contracting services to the other, or they may set up a co-owned “back-office” company. Independent News & Media sources said a tie-up with Trinity Mirror, headed by Sly Bailey, right, was possible although other groups were also in the running.

Such a collaboration would have pushed the loss-making Independent titles into the black last year.

Dutch sale of utilities

THE €16 billion (£12.6 billion) auction of the Netherlands’ electricity sector kicked off last week, with EDF and RWE, owner of Npower in the UK, tipped as the early favourites. Essent and Nuon, the country’s top two electricity groups, are being sold by the local and municipal governments that own them. Citigroup is running the €10 billion auction of Essent and Goldman Sachs is selling a part-stake in Nuon that could fetch €6 billion.

Overseer for banks

ALISTAIR DARLING is poised to appoint a senior banker to control the government’s stakes in Britain’s banks.

The chancellor will reveal the identity of the executive who will head the £37 billion Bank Reconstruction Fund early this week. A number of City heavyweights have been sounded out about the role.

The appointment comes as Royal Bank of Scotland, HBOS and Lloyds TSB prepare to launch their fundraisings.

BSM will motor off

BSM, Aviva’s driving-school business, will soon change hands after final bids were lodged by Luke Johnson’s Risk Capital Partners, the Australian bank Macquarie and Synova Capital. Rothschild, which is also selling the insurance giant’s repairs subsidiary Auto Windscreens and vehicle data group HPI, is expected to choose the winner shortly. BSM, which generates about £40m in annual turnover, could go for about £20m.

Chorion’s year of the piglet

THE company behind children’s characters such as the Mr Men and Noddy is to team up with one of the biggest media groups in China to develop a range of animated programmes.

Chorion, the British group headed by Lord Alli, has formed a partnership with Shanghai Media Group (SMG) to create television characters aimed at children aged 6 to 11.

The partners want to create properties that can be sold internationally, primarily in America, the world’s biggest market for programming and related merchandise.

As part of a separate deal, SMG, which owns newspapers and radio outlets as well as television stations, has acquired the rights to Chorion’s character Olivia the Piglet, pictured left. It will screen the programme on Chinese television next year.