March 6 The following bids, mergers,
acquisitions and disposals were reported by 1000 GMT on
** Morgan Stanley has sold its majority stake in
Accelerate Acquisitions, the parent company of British car
provider Zenith, to UK private equity fund HgCapital for 3.8
times its original investment.
** Japan's government will sell 26 million shares of Japan's
largest phone company, Nippon Telegraph and Telephone Corp
, back to the firm for 153 billion yen ($1.5 billion),
the finance ministry said, as part of its planned funding for a
stimulus package approved in December.
** Construction-to-media conglomerate Bouygues
made an offer to buy larger telecom rival SFR, which would
involve steeper regulatory risks and a slower pay-off for the
seller Vivendi than a competing offer from Numericable
. Bouygues faces a tougher battle to get its hands on
SFR because merging the number two and three mobile operators
would attract tough regulatory scrutiny - a handicap Numericable
would not face since it is not a force in mobile.
** Spain's Savera Group, which earns most of its revenue in
China, is seeking a buyer for about 70 percent of itself, in a
sale valuing the company at up to $500 million, people familiar
with the matter told Reuters. The maker of tracks used to guide
elevators is working with financial adviser Business Development
Asia, who has sent sales documents to potential buyers including
Carlyle Group and TPG Capital Management, the
** The top investor in Italy's third biggest lender, Banca
Monte dei Paschi di Siena, denied on Thursday press
reports that it had sold a stake of at least 8 percent in the
bank the previous day.