DealZone Daily

February 17, 2010

Sri Lanka has approached Emirates airline about buying the Dubai-based carrier’s stake in state-controlled SriLankan Airlines, Emirates’ president says.

Emirates said in 2008 it was looking to sell all or part of its 43 percent stake in SriLankan Airlines, a holding which had previously been valued at about $150 million.

In M&A and corporate finance news reported by other media on Wednesday:

The pending $15 billion sale of a unit of American International Group to MetLife may be pushed back by a tax dispute that may require a ruling from the Internal Revenue Service, the Wall Street Journal reports.

Morgan Stanley may hand over to creditors its $2.4 billion investment in a chain of Japanese hotels when the debt becomes due in April, the WSJ says, citing people familiar with the matter.

India’s largest mobile services operator Bharti Airtel hopes to conclude the deal to buy Zain’s African assets by March 25 and does not see funding as an issue, its chief says in a newspaper interview.

China’s Bank of Communications is asking investment banks to submit plans for a fundraising exercise to raise up to $3.7 billion to bolster its stretched balance sheet, a newspaper reports. For a Reuters round-up of market chatter, click here.

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