Will it be third time lucky as India’s Bharti Airtel launches an attempt to buy the African mobile telephone assets of Kuwait’s Zain after failing to secure South Africa’s MTN Group? Bharti has until March 25 to tie up a $10.7 billion deal as it doggedly tries to take a foothold in one of the last few remaining markets to offer major new subscriber growth.
Japanese brokerage Nomura has inked plans to buy the European gas and power trading business of Canada’s Nexen Inc. The deal, which is reportedly worth $55 million, comes as banks beef up their commodity trading desks to replace earnings from more traditional areas of investment banking like M&A advisory.
British support services company Mouchel is considering a revised cash and shares offer from rival VT Group, valuing the company at 330 million pounds ($518 million).
For more Reuters deals news, click here.
In other media:
Oil giant Royal Dutch Shell is considering selling its North Sea Oil operations as part of asset disposal plans that could raise $10 billion, The Sunday Times writes. Under plans hatched by chief executive Peter Voser, the company has hired Credit Suisse to sell its European liquified petroleum gas (LPG) arm, while an auction of petrol stations across 17 African countries has drawn first round bids of about $500 million.
Rival BP is in talks to pay about $1.2 billion for a majority stake in Value Creation, a Canadian company that has substantial oil-rich sand reserves, The Sunday Times reports. The company risks fierce opposition from shareholders and environmentalists alike over the oil sands business, which they say is costly and environmentally damaging.