M&A

2 November, 2009

UPDATE 1-Market Chatter -- Corporate finance press digest

(Adds Lloyds Banking and Comcast)

BANGALORE, Nov 2 (Reuters) - The following corporate finance-related stories were reported by media on Monday:

* The UK government will unveil plans this week to spend 30 billion pounds ($49.3 billion) buying further shares of rescued banks Royal Bank of Scotland (RBS.L) and Lloyds (LLOY.L), The Daily Telegraph newspaper reported on Monday. [ID:nSP1641]

* Lloyds Banking Group (LLOY.L) will attempt to raise 7.5 billion pounds ($12.3 billion) capital by offering existing bond holders the chance to exchange their bonds for riskier but higher yielding investments that could convert into equity, the Financial Times said on Monday. [ID:nL2303369]

* Comcast Corp (CMCSA.O) and General Electric Co (GE.N) are closer to a deal to give Comcast a 51 percent stake in NBC Universal and a formal announcement may be made in the coming week, the New York Times said, citing people briefed on the talks. [ID:nBNG348863]

* Goldman Sachs Group Inc (GS.N) is in talks to buy millions of dollars of tax credits from Fannie Mae (FNM.N), but the U.S. Treasury could block the deal, The Wall Street Journal reported. [ID:nN01403901]

* South Korea plans to pick an adviser this month to sell a stake in state-owned Incheon International Airport Corp to raise up to 3.7 trillion won ($3.1 billion) to finance its expansionary policy, a newspaper reported on Monday. [ID:nSEO115576]

* German retailer Metro (MEOG.DE) is increasingly losing interest in acquiring the stores of Karstadt, the department store unit of insolvent Arcandor (AROG.DE), a German newspaper said, citing sources. [ID:nL0185680]

* British real estate developer Quintain Estates and Development (QED.L) will announce plans this week to raise up to 180 million pounds ($298 million) of fresh funds, the Sunday Times reported. [ID:nL1168591]

* Lebanon may launch a public sale of 25 percent of national carrier Middle East Airlines (MEA) after the world economy improves and a new government backs the plan, the central bank governor told a television. [ID:nL1188685 ] (Compiled by Purwa Naveen Raman in Bangalore; Editing by Jon Loades-Carter)

Source: http://www.reuters.com