Oct 8 The following corporate finance-related
stories were reported by media:
* Russian state-controlled telecoms operator Rostelecom
aims to cut capital expenditure in the next four years
and focus on internet services such as digital TV, business
daily Vedomosti reported on Tuesday, citing sources.
* PHH Corp is exploring splitting up its mortgage
and auto fleet leasing businesses, and selling each of the
units, three people familiar with the situation told Reuters on
* Spanish oil major Repsol is putting the brakes on
the planned sale of a 30 percent stake in Gas Natural Fenosa
, sources said on Monday, facing the need to offer a
steep discount to attract buyers.
* Spain's largest bank, Santander, is finalising a
deal to buy a controlling stake in the country's largest
consumer finance business from department store chain El Corte
Ingles, sources said on Monday.
* Brazilian oil producer OGX Petróleo e Gas Participações SA
is meeting with U.S. creditors in New York on Monday
in a bid to jump-start rescue talks while banks scamper to
arrange an emergency loan for the company if no deal is reached,
sources with knowledge of the situation told Reuters.
* China Resources Enterprise Ltd is set to launch
a strategic review of its Hong Kong meat distribution unit, a
person familiar with the matter said, as it readies funds to bid
for tycoon Li Ka-shing's ParkNShop supermarket business.
* Britain's Vodafone plans to invest as much as $2
billion to buy out minority shareholders in Vodafone India, the
Financial Times reported on Monday.
* Malaysia's southern state of Johor, which neighbours
Singapore, will impose a higher processing fee on foreigners who
buy houses, state news agency Bernama reported, as it looks to
boost revenues and rein in speculative buying.
* Vodafone Group Plc is not interested in bidding
for Brazil's Tim Participacoes SA, Bloomberg News
reported, citing a person with direct knowledge of the company.
Analysts at BTIG LLC and Brandes Investment Partners have cited
Vodafone as a potential suitor for Tim, Brazil's second-biggest
wireless carrier. ()
* E-commerce site Zulily Inc plans to announce an initial
public offering this week, as activity around consumer Internet
IPOs heats up, the Wall Street Journal reported, citing people
familiar with the matter. ()
* D.E. Shaw is closing its doors to new clients, joining
other large hedge funds that have stopped accepting cash into
their flagship funds, the Financial Times reported on Monday.