Market Chatter - Corporate finance press digest
Oct 15 (Reuters) - The following corporate finance-related stories were reported by media on Monday: * BAE Systems Plc plans to spend the proceeds of a Saudi arms deal on a share buyback to appease investors following the collapse of its $45 billion merger with Airbus parent EADS, the Sunday Times reported. * A Japan government fund is expected to partner with about 10 companies in hopes of buying the struggling chipmaker Renesas Electronics Corp in a 200 billion yen ($2.55 billion)deal, reported the Nikkei business daily. * Siemens AG is prepared to walk away from its 1.3 billion euros ($1.69 billion)offer to buy Ansaldo Energia, reported the Financial Times.* Ferrovial SA's, BAA, the owners of Stansted, have made the unusual admission that anyone else could run the airport for at least 5 million pounds ($8.04 million) a year less, reported the Telegraph.* Deutsche Telekom AG aims to complete the merger of its T-Mobile U.S. unit with MetroPCS Communications Inc between April and June 2013, Chief Financial Officer Timotheus Hoettges told a German newspaper. * Executives from Chinese car maker Geely Automobile Holdings Ltd will fly into Britain on Monday for emergency talks that may lead to a bailout of London black taxi maker Manganese Bronze Holdings Plc, the Sunday Times reported. * Cablevision Systems Corp is looking at the possibility of selling its broadband telecommunications subsidiary Bresnan Broadband Holdings LLC, the Wall Street Journal reported, citing people familiar with the matter. * French mobile phone operator SFR, a unit of Vivendi SA , is in talks with unlisted cable company Numericable over a possible tie-up, the daily Le Figaro reported. * Bharti Airtel Ltd, the India's largest telco by revenue and customers, is planning its most significant restructuring by combining its Indian and African operations into a single business entity under a global CEO, reported the Economic Times. * Struggling French telecom gearmaker Alcatel-Lucent SA will lay off nearly 1,000 employees, or 9 percent of its India workforce, as part of a global restructuring drive to cut costs as deals dry up and demand for network equipment plunges, reported the Economic Times citing two senior executives aware of the matter.* Gujarat hopes to reap quick dividends from the softening stand of the British government towards Chief Minister Narendra Modi as the UK's BG Group Plc has initiated talks to team up with a state venture for a 40 billion rupee LNG terminal in the state, reported the Economic Times.
- Tweet this
- Share this
- Digg this