The price may be right in Vale’s $90 billion bid for Xstrata, but a dispute over marketing rights held by Xstrata’s biggest shareholder is now threatening the deal. A source close to the situation says Swiss commodities trader Glencore wants to boost its lucrative large, long-term contracts to sell Xstrata’s mining output. “They’re a long way apart. If that’s not resolved, there really isn’t anything to talk about,” the source said. 
    
An Italian court has cleared the way for Alitalia to continue  exclusive sale talks with Air France-KLM, knocking down a request to suspend them by rival suitor Air One, according to a judicial source. Alitalia, which is losing more than million euros a day, hopes to hammer out a deal with the Franco-Dutch carrier by mid-March. But those plans have been complicated by the January collapse of the Italian government, which is selling its controlling stake in the airline.
    
Yahoo Inc has faced significant distraction from Microsoft Corp’s unsolicited takeover bid, the company warned investors in its annual report filed with U.S. regulators. The Silicon Valley Web pioneer said the cash-and-stock deal, now valued at $41.6 billion, may continue to prove a distraction for the company and its management. “The review and consideration of the Microsoft proposal (and any alternate proposals …) have been, and may continue to be, a significant distraction for our management and employees,” the company said in its report to the SEC. 

Credit Suisse has made inquiries into selling a share of its loans behind the pending $20 billion buyout of radio operator Clear Channel Communications Inc, according to a buyside source. The bank has called potential investors regarding a chunk of the loans and asked what price they would be interested in paying, the source said. A sale by Credit Suisse could bypass a formal syndication process in which lenders make a unified effort to distribute their loans. Credit Suisse previously broke ranks with another group of lenders by unilaterally offering a share of its loans backing the buyout of Harrah’s Entertainment Inc, according to media reports.