Jan 8 The following corporate finance-related stories were reported by media on Tuesday:
* Informal approaches by United Parcel Service to FedEx to sell a package of TNT Express assets have been rebuffed by its U.S. rival, making it potentially harder for UPS to win approval for its takeover of the Dutch delivery group, the Financial Times reported.
* UK drinks group Diageo's mandatory tender offer to buy up to 26 percent of shares in India's United Spirits has been postponed as the deal has yet to receive local regulatory approvals, a source with direct knowledge of the matter said.
* The board of Italy's biggest insurer Generali is going to discuss a proposal to buy in two stages the 49 percent in an eastern European joint venture with PPF that it does not already own, three sources with knowledge of the situation said.
* Carlyle Group plans to sell its remaining stake in China's third-largest insurer CPIC in a deal valued at up to $790 million, according to an outline agreement seen by Reuters.
* Citigroup Inc has fired Richard Cookson, chief investment officer of its private bank, as the company looks to cut costs, Bloomberg reported.
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It remains to be seen whether Nifty will be able to break the 8,100 mark during October. With major events out of the way, the next trigger will be the Q2 FY16 earnings season which is expected to kick off next week. It is advisable for the investors to continue building their equity portfolio by utilising market volatility as an opportunity, writes Ambareesh Baliga. Full Article