PRESS DIGEST- Financial Times - February 20

Feb 20 (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

- Wood Group's CFO steps down after inaccurate claims about qualifications

-KKR submits 4 billion pounds bid to take majority stake in Thames Water

- Owners of UK energy networks made billions in excess returns, says watchdog

- Melrose founders' Rosebank in talks to buy U.S. engineering group for $2 billion

Overview

- The chief financial officer at embattled engineer John Wood Group WG.L has stepped down with immediate effect after he admitted to misstating his professional qualifications.

- KKR KKR.N has submitted a preliminary 4 billion pounds ($5.04 billion) equity bid to take a majority stake in Thames Water, as the U.S. private equity firm looks to position itself as the most credible potential owner of the debt-laden water provider.

- The owners of Britain's gas and electricity networks have made billions of pounds in excess returns as a result of a "policy failure" by regulator Ofgem, according to consumer watchdog Citizens Advice.

- Rosebank Industries ROSE.L, the listed private equity vehicle established by former founders of FTSE listed British turnaround specialist Melrose, has said it is in discussions with U.S.-based electrical engineering group Electrical Components International over a possible acquisition.

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