Deals du Jour
Portugal Telecom <PTC.LS> and Spanish firm Telefonica <TEF.MC> have both agreed to sell their 32.2 percent stakes in Moroccan telecoms firm Meditel to local investors in a deal likely to be closed by the end of the year
Reports suggest that online telephony firm Skype is set to be sold to private investors by its current owner eBay, with further details likely to be announced today. Sources indicated to the New York Times that co-founder of Netscape, Marc Andreessen is among the group of investors.
For the latest news from Reuters on mergers and acquisitions click here.
Here are some of the stories reported in today’s press (some external websites may require subscriptions):
* State-owned China Development Bank has set up an investment arm with 35 billion yuan ($5.1 billion) in registered capital which will focus on private equity deals, the official Financial News reported on Tuesday.
* The Canary Wharf Group (CYWHF.PK) is looking at new purchases and development opportunities after its majority stake owner, Songbird Estates (SBDb.L), secured an 836 million pounds recapitalisation, the FT reported.
* Bank of America (BAC.N) is offering to repay part of the U.S. government bailout money, starting with the $20 billion it received in January to help with the acquisition of Merrill Lynch & Co, the Wall Street Journal reported on its website.