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UPADTE 2-Market Chatter -- Corporate finance press digest

Published 09/14/2009, 04:51 AM
Updated 09/14/2009, 04:54 AM
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BANGALORE, Sept 14 (Reuters) - The following corporate finance-related stories were reported by media on Monday:

* German telecoms company Deutsche Telekom is mulling a bid for U.S. rival Sprint Nextel, Britain's Sunday Telegraph newspaper reported.

* Hundreds of millions of euros in German state aid planned for carmaker Opel is earmarked for operations in Russia, an Opel trustee with reservations about the project was quoted as saying in a newspaper interview.

* Private equity firm Blackstone and Genpact Ltd have bid around $300 million for Warburg Pincus's controlling stake in outsourcing firm WNS Holdings Ltd, the Economic Times reported on Monday.

* Britain's Resolution, an acquisition vehicle founded by tycoon Clive Cowdery, may buy a general insurer as part of its plan to shake up European financial services, Chief Executive John Tiner told the London Times.

* Shadow UK chancellor George Osborne is looking at selling a tranche of shares in Royal Bank of Scotland and Lloyds Banking Group to retail investors, the Financial Times reported.

* German property lender Hypo Real Estate (HRE), whose financial troubles forced Germany to nationalise it, has billions of euros in unrealised losses that may swell its need for fresh capital, a newspaper reported.

* A merger between Dubai's top stock exchanges, the Dubai Financial Market and Nasdaq Dubai, is a possibility, a leading official said, according to newspaper Emirates Business.

* Anthony O'Reilly is close to agreeing to give up his controlling stake in Independent News & Media in exchange for banks agreeing a rescue plan for the stricken publishing company, the London Times reported.

* French Economy Minister Christine Lagarde plans to extend billions of euros of loan guarantees to France's top banks for another year and is calling on them to provide action plans on financing the economy, a newspaper said.

* Important lenders to Gala Coral, the gambling group, have started to work with financial advisers Rothschild to assess their options in the event that the company were to breach the terms of its financing, the Financial Times reported.

* China's sovereign wealth fund is in talks to take a minority stake in power company AES Corp, the Wall Street Journal said, citing people familiar with the matter.

* China's PICC Group, the country's top non-life insurer, aims to hold an initial public offering (IPO) as early as 2010, the group's president was quoted by domestic media on Monday as saying.

For Deals of the Day, click on (Compiled by Purwa Naveen Raman in Bangalore; Editing by Rupert Winchester ) ((purwa.naveen@thomsonreuters.com; +91 80 4135 5800; Reuters Messaging: purwa.naveen.thomsonreuters.com@reuters.net))

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