4 Min Read
June 26 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:
** Private equity firm TPG Capital is involved in two separate bids for Singapore Telecommunications Ltd's Australian satellite unit, a business valued at more than A$2 billion ($1.9 billion), the Australian Financial Review reported.
** South Korea said it would put 14 units of Woori Finance Holdings up for sale by the end of next year, stressing that its fourth attempt to privatise the country's largest financial holding company would be speedy and buyer-friendly.
** Spanish nationalized lender Bankia SA is selling its 12.1 percent stake in International Airlines Group SA , worth $906 million, under pressure to raise cash through corporate stake disposals.
** Verizon Communications Inc has offered to buy Canadian telecommunications startup Wind Mobile and is also in talks with rival startup Mobilicity as it makes proposals that could create a viable competitor to the three wireless operators that now dominate the Canadian market.
One source familiar with the matter said Verizon presented a tentative offer of $600 million to $800 million for Wind Mobile last week, with final pricing depending on its due diligence.
** Thirteen companies including Abu Dhabi-based Etisalat and Turkey's Turkcell have expressed interest in buying Dubai Holding's 35 percent stake in Tunisie Telecom, a government official said on Wednesday.
** South African furniture retailer Steinhoff International said on Wednesday it would acquire Austria's Kika-Leiner Group, as part of its strategy to bulk up across Europe.
** E.ON, Germany's largest utility, said on Wednesday that it would fetch 360 million euros ($471 million) by selling its 63-percent stake in regional unit Westfalen Weser to a consortium of municipal shareholders.
** India's Reliance Capital said on Wednesday it would apply for a licence to enter mainstream banking in the country, in partnership with Japan's Sumitomo Mitsui Trust Bank and Nippon Life Insurance of Japan.
** Indonesia-focused coal miner Bumi Plc has struck a deal with the former head of its Berau subsidiary to recover $173 million, most of the cash it said last month had been lost at the unit.
** Seadrill Ltd, one of the world's largest offshore drillers, is considering taking control of small rig firm Sevan Drilling ASA, Seadrill said on Wednesday.
The firm said it was exploring the "opportunity to buy up to 50.1 percent in Sevan Drilling", which is worth about $166 million at current prices.
** Commerzbank on Wednesday sought to quell market speculation about a fire sale of its ship portfolio that hurt the lender's share, as the downturn in shipping intensifies.
** Israel Corp, one of Israel's biggest holding firms, plans to spin off some of its less-profitable assets into a new, listed company in a bid to boost the value of its core businesses and attract a broader range of investors, it said.
** Finnish utility Fortum said on Wednesday it was selling its minority stake in Norway's Infratek for 37 million euros ($48.4 million), the latest in the company's sales of non-core assets to boost its finances.