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Exclusively directed to The Daily Telegraph, Invensys Chief Executive Ulf Henriksson, said China South Rail (CSR) was the "opportunity to acquire Invensys" If the price was good.

In a very unusual movement, Mr Henriksson said that his preference would be CSR taking a minority stake.

Invensys, of which the products are helping to control the functioning of the railway, nuclear power plants and washing machines is now supposed to be Center of interest for the submission of Alstom, GE and Honeywell.Bien that none of the three has a formal business, chaired by Sir Nigel Rudd approach, sources indicate that they have expressed interest in a potential formal process.

"Sale of a participation in the Chinese help climbing stock price above ￡ 4,"said a close source of business.""

"Such sales game would force invisible potential buyers to consider a price tender closer to ￡ 6.

Shares closed Invensys 2 5pc higher 318% Friday.

Mr Henriksson said that taking a minority stake in Invensys CSR would tie the two companies together that they are seeking to bid for new contracts as a consortium.

"Let me see the Chinese outside China and taking possession of the business money", he said.

"I believe that CSR has the possibility to acquire Invensys, in principle, in its logic, both that shareholders accept the prix.Il isn't my although preference.

"The only question for me is how to create a model of how we can work ensemble.Si you look, historically, discussions with Chinese companies has always been on how I can have as many beans that possible .c ' is what prevented relationships go loin.La next step in the relationship is to establish a minor property .c ' is the whole point of property."

Week last Invensys has lifted its 1% to 1.5% interim dividend while the first-half revenues fell 9pc to. ￡ 1 to 1 ￡ 07bn. 16bn.

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The watchdog requested earlier this week by Vince Cable, the Secretary of the company, to examine the proposal controversial within the walls of the plurality of the media.

It appeared also Friday that the intervention by Mr. Cable also requires the Office of Fair Trading (OFT) to investigate whether the takeover will result in a change of control of the part of the process of double société.Dans, the OFT and OFCOM will accept comments from third parties on November 19.

OFCOM stated that, in his media plurality test, it would consider what control of certain people on médias.Le added body that consider any changes in the media landscape and watch "how future developments in the market, including the convergence of the broadcast, print and internet media may influence consumer media consumption".

The OFT and OFCOM will have up to 31 December to decide whether to recommend that a reference to the Competition Commission.

"OFCOM will examine how the proposed acquisition can affect the level of plurality of persons with control of the media serving relevant public enterprises considering representations and the analysis of relevant information," said the Governor.

Given the short time for the initial investigation of OFCOM and report on the effect on the consideration of public interest media, we are also interested in views of third parties on the potential remedies or mitigation for matters of public interest.?

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Tim Bush claims IFRS rules when it is applied to banks 'produce false profits ".

The former Chancellor, who now sits on the House of lords Economic Affairs Committee called for examination after awarded "absolutely devastating" evidence that the United Kingdom banks use incorrect accounting for as long as five years.

The evidence, which claims that the so-called international accounting standards (IFRS) hide the build up of risks for banks, was given by Tim Bush, a veteran of the city that is a member of the "urgent Issues Task Force" which examines the work of the Committee (ASB) accounting standards.

Lord Lawson said that theory President Bush "much sense" and asked a set of "proposals should be put in place to change" System.

Member of the Committee colleagues Lord Forsyth, who was also a conservative Minister and former JP Morgan, Assistant President considers view President Bush "explains why the specific banks in difficulty" it asked why claims not yet caused a "debate is raging.

President Bush responded: "I think it's a bit like the murder on the Orient Express: If you start to look at, there were many subjects, including government departments and regulators."

His views were rejected by CNC Ian Mackintosh as pattern "just simply wrong."M. Mackinstosh is on leave from gardening has recently been appointed as head of the International Accounting Standards Board.

Investigation of Lords, following a letter written by President Bush to the Government in August who warned of the "regulatory fiasco".

In the letter, first revealed by The Daily Telegraph, President Bush submits when applied IFRS banks involuntarily "product false profits and overvalued capital" who "" deceived creditors, misled shareholders, the Bank of England, the Financial Services Authority and other ".".

He argued that laws, excluding the need for a debt bad provisioning, accounts of the company, Bank giving a "false assurances" distorted and hampered directors and regulators see the build-up of leverage and other risques.Il said the system leads to "errors [made] of such gravity that it is difficult to overstate.

Mr. Bush said the Lords Committee that its first proposal to scrap IFRS accounting system and return to the old rules of GAAP UK replaced in 2005.

He said: "UK law society, be attached to [the Department of business] investigative Department had worked all tricks people received up to with more than 100 years and built safeguards in the law."

President Bush said that IFRS actually released "all guarantees only once.

He added: "I think we need UK GAAP return because London is because it has a competitive advantage in a legal framework and financial centre framework of reliable information standards comptables.Pour any reason that we decided to go to international standards which is potentially a race to the bottom".

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