Market Chatter -- Corporate finance press digest

lunedì 1 novembre 2010 06:25
 

BANGALORE Nov 1 (Reuters) - The following corporate finance-related stories were reported by media on Monday:

* Indian state-run explorer Oil and Natural Gas Corp (ONGC.BO: Quotazione) is talking to U.S. energy major Exxon Mobil's (XOM.N: Quotazione) Angolan arm to buy its 25 percent stake in an oil field for about $2 billion, the Economic Times reported. [ID:nBMA008743]

* Industrial & Commercial Bank of China 0349.HK(601398.SS: Quotazione), the world's biggest lender by market value, paid a token $1 for a small U.S. brokerage firm, the Wall Street Journal reported on Monday, citing people familiar with the matter. [ID:nTOE6A002N]

* BHP Billiton (BHP.AX: Quotazione) is planning to raise its $39 billion hostile bid for Canada's Potash Corp (POT.TO: Quotazione), the world's largest fertiliser supplier, the Sunday Times reported, citing sources close to the situation. [ID:nSGE69U02A]

* The European Commission has informally questioned News Corp (NWSA.O: Quotazione) about how it will manage future sports and production rights if it fully acquires BSkyB BSY.L, the Sunday Telegraph reported, citing sources. [ID:nLDE69U0DX]

* Egyptian real estate firm Amer Group expects to raise $300 million through an initial public offering and a private placement before the end of November, a newspaper reported on Sunday. [ID:nLDE69U0AL]

* British retailer Marks & Spencer (MKS.L: Quotazione) is looking to re-acquire some of the properties that it sold in 2001 when it exited Europe, the Sunday Telegraph reported. [ID:nLDE69U091]

* Four parties have voiced interest in potentially acquiring the German business of Arriva, the Sueddeutsche Zeitung reported on Saturday, adding a deal could be reached next month. [ID:nLDE69T097]

* Spanish builder ACS (ACS.MC: Quotazione) would be willing to guarantee in writing the independence of Hochtief (HOTG.DE: Quotazione) and its Australian unit Leighton LEI.AX as part of a takeover, the chairman and chief executive of ACS said in an interview with a German newspaper. [ID:nLDE69T05M]

* There is a 30 percent chance investors holding preferred shares in Porsche SE (PSHG_p.DE: Quotazione) may not be able to swap their stock for equity in cash-rich Volkswagen (VOWG_p.DE: Quotazione), the companies' top manager said in comments published in newspaper Automobilwoche. [ID:nLDE69T03T]

* International Business Machines Corp (IBM.N: Quotazione) is in advanced talks to buy network security provider Fortinet Inc (FTNT.O: Quotazione), Bloomberg reported on Friday. [ID:nN29263339] (Compiled by Aditi Samajpati in Bangalore)