Jan 8 The following corporate finance-related
stories were reported by media on Tuesday:
* Informal approaches by United Parcel Service to
FedEx to sell a package of TNT Express assets
have been rebuffed by its U.S. rival, making it potentially
harder for UPS to win approval for its takeover of the Dutch
delivery group, the Financial Times reported.
* State-run China Development Bank (CDB) has expressed
concern over the funding behind the effort of Thai conglomerate
CP Group to buy HSBC's stake in Ping An Insurance
, sources told Reuters, a stance that may scupper the
$9.4 billion deal.
* UK drinks group Diageo's mandatory tender offer to
buy up to 26 percent of shares in India's United Spirits
has been postponed as the deal has yet to receive
local regulatory approvals, a source with direct knowledge of
the matter said.
* The board of Italy's biggest insurer Generali is
going to discuss a proposal to buy in two stages the 49 percent
in an eastern European joint venture with PPF that it does not
already own, three sources with knowledge of the situation said.
* Carlyle Group plans to sell its remaining stake in
China's third-largest insurer CPIC in a deal valued at
up to $790 million, according to an outline agreement seen by
* Citigroup Inc has fired Richard Cookson, chief
investment officer of its private bank, as the company looks to
cut costs, Bloomberg reported.