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Morning Wrap: today's top business stories

New stories from around the web.

KPN agrees sale of German business (FT)

KPN, the Dutch telecoms group, has agreed the sale of its German business to Telefónica of Spain for €5bn in cash plus a stake in the enlarged group.

The deal is split into two phases. In the first phase, Telefónica Deutschland will acquire 100 per cent of E-Plus for €3.7bn in cash and a stake of 24.9 per cent in the combined entity.

Help to Buy sparks £1.3bn house sales (FT)

The UK housing market has been given a sharp jolt by the government’s flagship Help to Buy scheme, subsidising an estimated £1.3bn-worth of house purchases in the past four months.

Claims management firms close as tougher laws introduced (BBC)

Hundreds of claims management firms have shut following the introduction of tougher laws, the government has said.

The figures show the number of registered companies handling personal injury claims fell from 2,435 in March 2012 to 1,700 in June this year.

Third Point to reduce Yahoo stake (BBC)

Third Point LLC, the hedge fund headed by activist investor Daniel Leob, has agreed to reduce its stake in Yahoo.

Yahoo will buy back 40 million shares from Third Point, reducing its stake in the internet giant to less than 2%.

Rail executives to pocket £900,000 to stay in jobs (Telegraph)

Three senior Network Rail executives are set to pocket £900,000 for not leaving their jobs, The Daily Telegraph can disclose.