P203 CEEFAX 2 203 Fri 21 Jan 22:04/00 M&S TO NAME VANDEVELDE AS NEW CHAIRMAN Marks & Spencer has chosen Luc Vandevelde, managing director of French food retailer Promodes, as its new chairman, the Financial Times reports. The newspaper said the appointment, due to be announced next week, ends months of searching by M&S as it struggles to underpin falling sales and profits. Vandevelde is believed to be settling details of his employment before signing the contract. Ex-chairman Sir Richard Greenbury took early retirement last summer. 1/2 Headlines 200 Commodities 246 Savings 250 Front page 100 Next News TV/Radio Markets Main MenuP203 CEEFAX 2 203 Fri 21 Jan 22:11/15 PRU TEAMS UP WITH BoT IN NATWEST BATTLE Prudential has teamed up with Bank of Scotland in the bidding war for NatWest Prudential has agreed to buy NatWest Life if the BoT bid succeeds, in return it will get the exclusive right to sell its products at NatWest branches. BoT said the embedded value of NatWest Life was £389m at the end of 1998. BoT is in a takeover battle with rival the Royal Bank of Scotland for the bank. The battle is likely to intensify next week as January 31 is the last day the two can revise their offers. 2/2 Headlines 200 Commodities 246 Savings 250 Front page 100 Next News TV/Radio Markets Main Menu