Sunday newspaper round-up: Sky, IAG, IPOs

Sky has emerged as potential kingmaker in a looming £9bn bid battle between private equity giants for mobile operator O2. The pay-TV company is being courted by at least five buyout specialists seeking its heavyweight backing for their bids, City sources revealed. Discussions are in their early stages, but involve a who’s who of big private equity firms, including KKR, TPG, Bain Capital, Apollo, CVC Capital Partners and Apax Partners. - The Sunday Telegraph

Conncerns are growing about mounting Qatari influence at International Airlines Group after the Gulf state’s airline boosted its stake in British Airways’ parent company for the second time in the space of a few weeks.Industry sources said IAG was watching state-owned carrier Qatar Airways closely amid growing speculation that Qatar, which now owns 15pc of IAG, could “comfortably” push for a board seat. - The Sunday Telegraph

One of Europe’s largest commercial landlords is being groomed for a £4bn London stock market float. Logicor, whose warehouse tenants include Amazon, could list before the end of the year under plans being drawn up by its owner, Blackstone. City sources said the US private equity giant is set to interview investment banks this summer to assess its options. Blackstone declined to comment. - The Sunday Times

Greece could be granted a further 40 years to pay back its debts under a sweeping financial overhaul that may return Athens to a stable footing after years of crisis. The deal, which could cap interest rates, extend loan repayments and release €11bn (£8.5bn) in badly needed bailout cash, hinges on a key vote today in Athens. - The Sunday Times

A British withdrawal from Europe would add a potent new threat to a range of uncertainties hanging over the world economy, finance chiefs and central bankers warned yesterday. In a joint statement, the G7 ministers said “the shock of a potential UK exit from the European Union [would] complicate the global economic environment”. A victory for the “leave” campaign in the June 23 referendum would compound the growing “uncertainties to the global outlook”, they said. - The Sunday Times

David Cameron has in effect accused leave campaigners, including his own defence minister, Penny Mordaunt, of lying about the prospect of Turkey joining the EU. The prime minister said his Conservative colleague had made “a very misleading claim” when she said Britain would not be able to stop the accession of new countries into the EU. - The Guardian on Sunday

Some of the biggest US companies have accumulated cash piles worth almost $1.7trn (£1.1trn) – more than two thirds of it overseas. According to the calculations by ratings agency Moody’s, the five companies hoarding the most cash – Apple, Microsoft, Google, Cisco and Oracle – between them held $504bn by the end of last year. The tech sector held 46% of the total. Apple – described as the “cash king” by the ratings agency – held $216bn of cash, more than double the $102bn held by the next largest hoarder, Microsoft. - The Guardian on Sunday

Annual payouts to employees at John Lewis department stores - and its upmarket sister supermarket business Waitrose - have been falling for the last three years. Staff could now face the prospect of further bonus cuts in the event of Brexit vote, which could damage the business and cut earnings. - The Mail on Sunday