UPDATE 1-Market Chatter-Corporate finance press digest
Jan 10 (Reuters) - The following corporate finance-related stories were reported by media on Thursday:
* China's insurance regulator is expected to reject HSBC's sale of its $9.4 billion stake in Ping An Insurance to Thai conglomerate CP Group, media reports said.
* Morgan Stanley plans to cut 1,600 jobs in its investment banking unit, roughly 6 percent of staff in that unit, with employees being informed about job losses beginning this week, a person familiar with the matter said.
* The minority owner of Chrysler Group LLC on Wednesday pushed the U.S. automaker to take the first step toward becoming a public company again by demanding that Chrysler register shares with U.S. regulators.
* Sprint Nextel Corp is under no pressure to raise its $2 billion offer for Clearwire Corp to beat a higher bid by Dish Network Corp as it holds several trump cards it can play to thwart its rival, three sources close to the matter said.
* Nasdaq OMX Group would definitely consider bidding for Euronext, the operator of the Paris, Amsterdam, Brussels and Lisbon stock exchanges, if it were put up for sale, Nasdaq's Chief Executive Robert Greifeld said.
* Private equity firm CVC is in exclusive talks to buy a majority stake in SPi Global Holdings, a business outsourcing unit of Philippine Long Distance Telephone Co , for about $320 million including debt, a source familiar with the matter told Reuters.
* The chief financial officer of BNP Paribas is under investigation by Belgian prosecutors looking into the lead-up to the collapse of Belgian-Dutch bank Fortis in 2008, Belgian business dailies De Tijd and L'Echo reported.
- Tweet this
- Share this
- Digg this
- Tendulkar factor adds to pressure on Sindhu
- Taiwan says weather not seen as cause of plane crash that killed 48
- With sales sputtering, Apple's iPad looks to IBM alliance
- Exclusive - Ukraine rebel commander acknowledges fighters had BUK missile
- TransAsia Airways stocks plunge after plane crashes in landing
India is set to offer Nepal a landmark pact to help develop its huge hydro-electric power potential as the South Asian giant takes another step to re-assert influence among smaller neighbours where China has been forging closer ties. Full Article