PRESS DIGEST-Financial Times - July 2

July 2 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

- Santander to buy UK high street lender TSB for 2.65 billion pounds

- Ofgem approves 24 billion pound investment into UK energy networks

- Brainlab shelves IPO in latest blow to Europe's struggling listings market

- Smythson, UK maker of 185 pound diaries, snapped up by private equity firm

Overview

- Spain's Santander SAN.MC said it had reached an agreement to acquire smaller rival Sabadell's SABE.MC British unit TSB for initially 2.65 billion pounds ($3.64 billion) in an all-cash deal.

- Britain's energy watchdog has given the go-ahead to a 24 billion pound investment to upgrade the country's transmission system, but said the move could push up network charges on household bills by more than 100 pounds.

- German medical technology company Brainlab has postponed its planned stock market listing just two days before its scheduled debut amid volatile stock markets over recent months.

- Smythson of Bond Street, the British luxury leather goods and stationery brand, has been bought by Iconic BrandCo, a company controlled by Oakley Capital which invests in heritage brands.

($1 = 0.7274 pounds)

($1 = 0.8477 euros)