LONDON (ShareCast) - London is tipped to open flat, though reaction to the goings on at Bradford & Bingley could change that.

Bradford & Bingley's leading shareholders were forced last night to step in and rescue its £400m fund raising after US private equity group Texas Pacific (TPG) walked away. TPG had agreed to inject £179m for a 23% stake in the mortgage lender but following a rating downgrade for B&B from credit rating agency Moody's decided to pull out of the deal. This morning, B&B confirmed its credit rating had been cut to Baa1 from A3 by Moody's.

Origin Energy has advised shareholders to reject a $13.1bn bid from BG Group. BG replied that "Origin has not yet addressed the very significant risks for shareholders inherent in any alternative proposals to monetise its gas resources. Nor, in rejecting BG Group's bid, has Origin indicated with any degree of certainty that any of those alternatives could generate higher value for shareholders when compared against BG Group's all-cash offer."

Nord Anglia has agreed a bid of 460p per share cash from Baring Asia Private Equity. The offer values the entire issued and to be issued share capital of Nord Anglia at approximately £190m.

The FT reports that BSkyB is considering a bid of more than €2.5bn for Spanish pay-TV platform Digital Plus. There has been no decision to proceed, but BSkyB's strong cash flow could allow it to finance an acquisition, the paper reported.

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