DealZone

DealZone Daily

Auto partners Renault and Nissan are in the final stages of talks with Daimler to obtain symbolic stakes in each other as they look to share technology amid intensify competition, according to reports. For the Reuters story click here.

Canada’s largest pension plan, the Ontario Teachers’ Pension Plan, is buying Camelot, the British national lottery operator, for 389 million pounds. It saw off rival bidder CVC.

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

South Korea’s top insurer Samsung Life is expected to raise an estimated $4.7 billion in its upcoming initial public offering, the country’s biggest share float, after a major shareholder group agreed to sell the bulk of their holdings in the offering.

U.S. private equity firm The Gores Group is mulling a merger between its unit Siemens Enterprise Communications and videoconferencing company Polycom Inc, the Financial Times says, citing people familiar with the situation.

UK hedge fund Man Group sounds out investors in U.S. about deals to expand there, the FT says.

Magnum’s Opel

General Motors may soon get the long-delayed green light to sign over carmaker Opel to Canada’s Magna. EU antitrust regulators have no plans to block Magna’s acquisition of GM’s European arm, a European Commission spokesman said in Brussels, easing fears the transaction could run out of gas in debate over German state aid to the mostly German-staffed company.

Magna hopes to conclude the deal within weeks of signing a contract. That should be that, right? Well, hardly. For one thing, Spanish workers at Opel’s plant at Figueruelas have voted to strike in protest at cuts included in the Magna package. And European politicians say GM and the Opel Trust should have the option of reopening the bidding process.

But the jilted other bidder, RHJ, says it is no longer interested in doing a deal, so going back to the auction block is probably a nonstarter. And with European auto titan Volkswagen saying sales will likely stay stalled next year, the political will to get a deal done is about all Opel has going for it right now. The company is poised to run out of cash by mid-January.