Big numbers abound on today’s deal-making menu. Shareholders rapidly snapped up Rio Tinto’s (RIO.L) (RIO.AX) $15.2 billion rights issue, allowing the miner to ease its debt burden. And China National Petroleum Corp (CNPC) reportedly plans to revive a $17 billion bid for the Argentinian unit of Spanish oil major Repsol-YPF (REP.MC). For all the Reuters top deals stories, click here.
Here’s what we found interesting in today’s newspapers:
Spain’s Telefonica (TEF.MC) is looking at the case for buying T-Mobile UK, the British mobile phone operator owned by Deutsche Telekom (DTEGn.DE), the Financial Times reports, citing people familiar with the situation.
Chinese carmaker Beijing Automotive Industry Holding Co plans to present a detailed bid for General Motors Corp’s Opel unit in the next few days, the Wall Street Journal says.
Valentino Fashion Group’s lenders are seeking to renegotiate the Italian luxury group’s debt by the end of the summer, the Wall Street Journal says. UniCredit, Mediobanca and Citigroup (C.N) are pressing Valentino and its owner, private equity group Permira, to agree to new lending terms to avoid defaulting on debt.
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If GM can make it to July 10th, GM would be able to shake loose from the Goverment’s claws. The Treasury says at this date,,will allow GM to re-organize without a goverment bankruptcy. Let’s all prey GM will be able to make it to July 10th, and our Government keeps it’s word to get out of GM’s business.
- Posted by julie