Deals of the day-Mergers and acquisitions
Adds: Tokio Marine, Kotak Mahindra Bank, United States Cellular
Oct 18 (Reuters) -The following bids, mergers, acquisitions, and disposals were reported by 1330 GMT on Friday:
** United States Cellular USM.N said it has agreed to sell some of its spectrum licenses to Verizon VZ.N in a $1 billion deal.
nL4N3LU16G
** Japanese insurer Tokio Marine 8766.T has paused the sale of its $1 billion Southeast Asia life insurance business, partly due to a dispute with a Malaysian partner over an expiring products distribution agreement, four sources with knowledge of the matter said.
nL4N3LU0J0
** Kotak Mahindra Bank KTKM.NS will buy Standard Chartered Bank's personal loan business in India, the Indian lender said, leaving the U.K.-based company to focus on its wealth and investment banking business in Asia's third-largest economy.
nL4N3LU0ZO
** The board of Japan's Fuji Soft 9749.T has decided to stick with a 558.4 billion yen ($3.72 billion) buyout offer from KKR KKR.N, the Nikkei newspaper said, despite having received a higher counter-offer from Bain.
nL1N3LU09O
** BP BP.L is considering selling a minority stake in its offshore wind business, according to four sources with knowledge of the matter, the latest effort by CEO Murray Auchincloss to scale back the energy company's focus on renewables.
nL6N3LT0MS
** Philippine conglomerate Ayala Corp AC.PS is selling half of its stake in Mynt, the fintech unicorn which operates e-wallet brand GCash, to Japan's Mitsubishi Corp 8058.T for a minimum of 18.4 billion pesos ($318.89 million), it said.
nL4N3LU02D
(Compiled by Rajarshi Roy and Anuja Bharat Mistry in Bengaluru)
</body></html>Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
