Market Chatter - Corporate finance press digest
BANGALORE, April 9
BANGALORE, April 9 (Reuters) - The following corporate finance-related stories were reported by media on Monday:
* Thomas Cook is close to securing a 1.2 billion pound ($1.90 billion) lifeline from its lenders to secure the future of the world's oldest travel company that issued three profit warnings last year, the Sunday Times reported.
* Major shareholders in Tesco have called on the world's third-biggest retailer to rethink its strategy and improve its struggling domestic market, the Sunday Times reported, three months after the group issued a shock profit warning.
* German carmaker Audi has won the backing from parent Volkswagen to build a new plant in Mexico, German magazine Der Spiegel reported on Friday.
* German sportswear group Adidas plans to slash the number of products it offers by a quarter to improve its profitability, chief executive Herbert Hainer told a newspaper.
* Packaged-ice maker Reddy Ice Holdings Inc is preparing to file for Chapter 11 bankruptcy and plans to hand ownership to a hedge fund holding the company's debt, the Wall Street Journal reported, citing people familiar with the matter.
* India's Reliance MediaWorks, controlled by billionaire Anil Ambani, is in talks to sell a stake in some of its movie theaters to Mexico's multiplex operator, Cinepolis, the Business Standard newspaper reported on Monday.
- White House reverses, says Obama met uncle and lived with him during law school
- Flights delayed as air pollution hits record in Shanghai
- South Africa mourns Mandela, will bury him on December 15 |
- Analysis: Boeing bidders dangle goodies to win 777X jetliner
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image