May 24 The following bids, mergers, acquisitions
and disposals were reported by 2000 GMT on Friday:
** Yahoo Inc has submitted a formal proposal to buy
Hulu, joining a growing list of bidders for the video service
owned by News Corp and Walt Disney Co, two
sources with knowledge of the bid told Reuters on Friday.
** Manitoba Telecom Services Inc will sell its
Allstream fiber optic network to a company controlled by telecom
tycoon Naguib Sawiris for C$520 million ($502.8 million), a deal
that signals the Egyptian billionaire is still keen on the
** Spanish nationalized lender Bankia SA said on
Friday it had sold City National Bank of Florida to Chilean bank
BCI for $883 million, part of a plan to sell assets to
** Liquefied natural gas producer InterOil Corp and
its joint venture partner have entered into exclusive
negotiations with Exxon Mobil Corp to develop gas fields
in Papua New Guinea.
** Dutch bank ING has attracted two more bidders
for its South Korean insurance business, said a source with
direct knowledge of the matter, taking the total number to three
and raising the chances of a successful deal after an earlier
sale fell through.
** Toshiba Corp and U.S. private equity firm
Kohlberg Kravis Roberts & Co are among those expected to
bid for Panasonic Corp's healthcare business, financial
sources with knowledge of the matter said.
** Canada's Valeant Pharmaceuticals International
is nearing a deal to acquire eye care company Bausch & Lomb from
private equity owner Warburg Pincus LLC for about $9 billion, a
person familiar with the matter said on Friday.
** 3i Group Plc is taking over the European
infrastructure fund management business run by Barclays
as part of a plan to boost fee income from public-private
partnerships and energy investment projects.
** EDF confirmed that it would sell its 49 percent
stake in Slovakia's No. 2 electricity distributor,
Stredoslovenska Energetika, to Czech energy company EPH for
about 400 million euros ($517 million).
** Italian oil and gas group Eni could make
acquisitions in Belgium, a market where it already owns a gas
distributor and a retailer, its chief executive said in an
interview published on Friday.
** Japan's Dai-ichi Life Insurance Co Ltd has
agreed to buy a 40 percent stake in Indonesia's Panin Life for
about 30 billion yen ($295 million), a source with direct
knowledge of the matter said.
** The owners of rail freight operators Globaltrans
and NefteTransService are in talks on a merger that
would create a business with sales of $2.7 billion and a 10
percent share of the Russian market, industry sources told
Reuters on Friday.
** Kyobo Life Insurance, South Korea's third-largest
insurer, said on Friday it had made a bid for a controlling
stake in ING's South Korean insurance unit, breathing
new life into a delayed deal previously valued at roughly $2
** Italian gas grid operator Snam SpA is eying a
stake in the TAG gas pipeline, which brings Russian gas into
Italy, as the next step in its European growth strategy, Snam's
CEO said on Friday.
** Gulf telecom operator Etisalat has offered a
higher price for Vivendi's Maroc Telecom stake than
rival Qatari bidder Ooredoo, according to two people
familiar with the matter.
While the exact prices of the offers were not clear, sources
earlier told Reuters that they had come in lower than the 5
billion euros ($6.5 billion) Vivendi had initially hoped for and
closer to the market value of the stake.
** French water and waste treatment company Saur's creditor
banks have improved an offer to take over the company, two
sources familiar with the matter told Reuters on Friday.