PRESS DIGEST - Wall Street Journal - May 30
May 30 The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
Sept 5 The following corporate finance-related stories were reported by media on Thursday:
* Italy's Finmeccanica has reached a preliminary agreement to sell a majority stake in power unit Ansaldo Energia to South Korea's Doosan Heavy Industries, a source with direct knowledge of the situation told Reuters.
* State-run Banco do Brasil SA is negotiating a new partnership model for an investment bank with subsidiary Banco Votorantim SA, with the focus on strengthening equity research and advisory on mergers and acquisitions and capital markets deals, a source with direct knowledge of the talks said on Wednesday.
* Praktiker, the insolvent German home improvement store chain, is likely to be broken up after attracting bids only for its Max Bahr business and some Praktiker branches, a source close to the negotiations told Reuters.
* Italian market watchdog Consob is still looking into a bid by a group of investors to buy out shareholders in Pirelli holding company Camfin and has not questioned its price, a source close to Consob told Reuters.
* BlackBerry's board hopes to run a "fast" auction process that could result in a sale of the company by November, the Wall Street Journal said, citing people familiar with the matter on Wednesday.
* The $4.7 billion acquisition of Smithfield Foods by Shuanghui International is likely to be cleared by the US Treasury department, moving it a step closer to what would be the largest ever Chinese takeover of a US company, according to people familiar with the matter, the Financial Times reported. ()
* OmniAmerican Bancorp Inc, the Texas lender whose stock has more than doubled since going public in 2010, is exploring a sale, Bloomberg reported, citing two people with knowledge of the matter. ()
CARACAS, May 29 The president of Venezuela's opposition-run Congress on Monday accused Wall Street investment bank Goldman Sachs of "aiding and abetting the country's dictatorial regime" following a report that it had bought $2.8 billion in bonds from the cash-strapped country.