Deals du Jour

June 26, 2009

The auto industry shake up looks set to accelerate.

Germany’s Volkswagen is exploring a deal to cooperate with Japan’s Suzuki Motor to boost its presence in ultra-small cars, a source tells Reuters. The news sent Suzuki sahres racing to a 10-month high.

Cooperation with Suzuki, which dominates Japan’s 660cc minivehicle market along with Toyota’s Daihatsu, could yield a new model for VV below its upcoming “New Small Family” range of small cars, the source said.

Deal news reported by other media on Friday included:

Four savings banks in Spain’s Catalonia region are in advanced talks to create what would be the country’s eighth-largest savings bank, La Vanguardia newspaper reported. Unlisted savings banks Sabadell, Terrassa and Manlleu are discussing a merger which Caixa Manresa could also join, it said. For the Reuters strory click here.

Norway’s Telenor is close to an agreement with its Russian partner, the Alfa Group, to merge their Russian and Ukrainian mobile telecoms businesses, Vimpelcom and Kyivstar, Vedomosti newspaper said.¬†For the Reuters story click here.

Miner BHP Billiton is looking to sell its Yabulu and Ravensthorpe nickel operations in Australia as a package, the Australian Financial Review reported.

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