Monday, April 8, 2013

Reuters: Regulatory News: Market Chatter-Corporate finance press digest

Reuters: Regulatory News
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Market Chatter-Corporate finance press digest
Apr 8th 2013, 06:00

Mon Apr 8, 2013 2:00am EDT

April 8 (Reuters) - The following corporate finance-related stories were reported by media on Monday:

* Mitsubishi UFJ Financial Group Inc, Japan's largest lender by assets, is in advanced talks to buy U.S. commercial property loans from Deutsche Bank AG worth about $3.7 billion, a source familiar with the matter said on Monday.

* Billionaire investor Carl Icahn is refusing to drop the option of a proxy fight to force Dell Inc to pay a big dividend, in spite of the board committee's request that he drop his threats and launch a formal bid for the company, the Wall Street Journal reported.

* Qatar is planning to offer shares in a new $12 billion investment vehicle, called Doha Global Investment Co, in May, in a move that will set in train one of the largest initial public offerings in the Middle East, the Financial Times reported. ()

* India's Reliance Communications Ltd will sell an 80 percent stake in its subsidiary Reliance Globalcom, a global communications service provider, to a consortium led by Bahrain Telecommunications Co BSC for around 60 billion Rupees ($1.09 billion) as part of a series of deals that the Reliance Group proposes to stitch over the next two to eight weeks, the Times of India reported. ()

* British Business Secretary Vince Cable is pushing for three former executives of HBOS Plc to be banned from serving as company directors in any industry, as he looks to exact punishment on the collapsed bank's management team, the Financial Times reported. ()

* Investors have asked to pull around $1.5 billion from veteran stock-picker Jeffrey Vinik's hedge-fund firm after a period of poor performance, the Wall Street Journal reported, citing people briefed on the matter. The withdrawal requests amount to around 18 percent of the roughly $8 billion that was run by Vinik Asset Management. ()

* U.S. private equity company KKR & Co LP will purchase a 90 percent stake in specialised tyre maker Alliance Tire Group from rival fund Warburg Pincus LLC and owner Yogesh Mahansaria for an enterprise value of about $650 million, the Economic Times reported, citing two people familiar with the transaction. ()

* Former News Corp president Peter Chernin has bid around $500 million for Hulu, the online video streaming service he helped create in 2007, according to two sources with knowledge of Hulu's sale process.

* Greece's largest lender National Bank Of Greece SA and its subsidiary Eurobank Ergasias SA will be recapitalised separately, two bankers said on Sunday after the country's international lenders raised concerns about their integration plans.

* Luxembourg is prepared to ease its banking secrecy rules and work more closely with foreign tax authorities, Finance Minister Luc Frieden told a paper, in a comment welcomed by Germany which wants to crack down on tax havens.

* China's privately-held Dalian Wanda Group, the world's biggest movie theatre owner last year, is in discussions to purchase a European chain of movie theatres, the Wall Street Journal reported Sunday.

* Hong Kong-based Hutchison Whampoa Ltd could end up with a 10 percent stake in Italy's Telecom Italia SpA , if talks over a tie-up between Hutchison's Italian mobile phone business and Telecom Italia are successful, daily La Repubblica reported.

* Tele2 AB will seek further acquisitions in the European telecoms market after completing the rapid sale of its Russian business to state-controlled bank VTB at the end of last week, the Financial Times reported. ()

* U.S. antitrust regulators are looking into the consent decree that allows Macquarie Group Ltd's private equity business to buy the Advantage rental car brand from Hertz Global Holdings Inc, a source familiar with the matter told Reuters.

* Spanish olive oil cooperative Hojiblanca is considering buying nationalised lender Bankia SA's 16 percent stake in food group Deoleo SA, Hojiblanca's director general said in a newspaper interview.

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