Monday Papers: Schaeffler sells Continental stake to cut debt - tips, comment and bids

Financial Times

* The German industrial group Schaeffler is to sell a 15% stake in Continental to reduce its debt.

* Ireland’s Tullow Oil is seeking to increase its stake in Ghana’s offshore Jubilee field through the $300 million acquisition of shares controlled by allies of John Kufuor, the former president.

* Porsche is attempting to lure investors to its €5 billion capital increase with a discount of more than 30%.

The Lex Column

* Euro pharma: sweetening a bitter pill - the business of big pharma now look more like that of consumer goods companies and brand managers. Expect stock market valuations to rise.

* US housing: cash for keys - homeowners with underwater mortgages not in default get an additional incentive for delinquency. Adding more homes to the shadow inventory would further depress prices.

* Eurozone: a crisis waiting to happen - investors should bear in mind four events that will shape public opinion on the sovereign debt crisis, and the EU’s ability to resolve it, in the next few weeks.

Other Comment

* Economic Outlook: Sharp falls in the overall US unemployment rate have failed to be matched by any big leaps in job creation.

The Times

* Intermediate Capital Group has acquired 20% of Westbury Street Holdings, Britain’s fourth-biggest caterer.