Market Chatter-Corporate finance press digest
Feb 14 (Reuters) - The following corporate finance-related stories were reported by media on Thursday:
* Rosneft is seeking to borrow up to $30 billion from China in exchange for possibly doubling oil supplies, making Beijing the largest consumer of Russian oil and further diverting supplies away from Europe, industry sources familiar with the situation told Reuters.
* Qatar's sovereign wealth fund is in advanced talks with VTB - which is listed in Russia and London - about injecting between $3 billion and $3.5 billion into the banking giant, according to sources, The Telegraph reported.
* The boards of AMR Corp and US Airways Group Inc each met on Wednesday to approve a merger that would create the world's largest airline with an expected market value of around $11 billion, people familiar with the matter said.
* Best Buy Co Inc founder Richard Schulze may scrap a buyout bid and instead line up investors to take a minority position in the electronics retailer, sources familiar with the situation said.
* Winton Capital, one of the world's most successful hedge fund firms, has seen clients pull $1 billion of cash out of its portfolios amid falling returns from computer-driven fund managers.
* Citigroup Inc has begun axing 50 investment bankers across its Europe, Middle East and Africa (EMEA) division as a programme of cutting 11,000 jobs hits the heart of the investment bank, sources told Reuters.
* Time Warner Inc is seeking to sell its publishing unit Time Inc and has met with at least one serious buyer, Fortune magazine said, citing unnamed sources.
- U.S. man sues soccer star Cristiano Ronaldo over CR7 trademark
- Moscow fights back after sanctions; battle rages near Ukraine crash site |
- Netanyahu vows to complete Gaza tunnels destruction
- Argentina defaults but investors see eventual deal possible
- Obama to Republicans: ‘Stop just hatin’ all the time’