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UPDATE 3-Deals of the day -- mergers and acquisitions

Wed Jul 23, 2008 1:57am IST
 
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** U.S. computer giant International Business Machines Corp (IBM) (IBM.N: Quote, Profile, Research) sold $77.3 million worth of shares in top Chinese PC maker Lenovo Group Ltd (0992.HK: Quote, Profile, Research) at the bottom of a range, a source said. [ID:nHKG254367]

** Russian services conglomerate Sistema (SSAq.L: Quote, Profile, Research) is in discussions to sell its stake in long-distance provider Multiregional TransitTelecom (MTT), a company official told Reuters. [ID:L2229231]

** British driving services firm Trafficmaster Plc (TFC.L: Quote, Profile, Research) has agreed to acquire vehicle tracking company Tri-Mex Group for up to 4.75 million pounds ($9.49 million). [ID:nL22421684]

** A group including Hutchison Port (0013.HK: Quote, Profile, Research) and Greek pharmaceutical group Alapis (ALAr.AT: Quote, Profile, Research) made the best bid to run and upgrade cargo facilities at Greece's Thessaloniki Port Authority (OLTH) (OLTr.AT: Quote, Profile, Research), the government said. [ID:nATH001419]

** Xugong Group Construction Machinery Co, China's biggest maker of construction equipment, has abandoned a plan to sell a stake to U.S. investment firm Carlyle Group [CYL.UL], a subsidiary of Xugong said. [ID:nSHA323138]

** Shares in China's Semiconductor Manufacturing International Corp (0981.HK: Quote, Profile, Research)(SMI.N: Quote, Profile, Research) jumped as much as 16 percent on a news report that the Datang Telecom group may buy a 20 percent stake in SMIC, the nation's biggest contract chip maker. [ID:nSHA307114]

** A plan by Qatar Telecom (QTel) QTAL.QA to buy the remaining shares in Indonesia's PT Indosat Tbk (ISAT.JK: Quote, Profile, Research) will be blocked by a regulation limiting foreign ownership to 49 percent, officials said. [ID:nJAK49114]

** India's Tata Capital and Mizuho Corporate Bank Ltd said they had signed a memorandum of understanding for a strategic alliance for a range of activities in the financial services sector. [ID:nBMA001119]

** A unit of the Qatar Investment Authority, the sovereign wealth fund, said it was dropping a proposed offer for a stake in Monaco casino and hotel group Societe des Bains de Mer (BAIN.PA: Quote, Profile, Research) due to management opposition. [ID:nL22971990] (Compiled by Tina Kwan in Singapore, A.Ananthalakshmi and Kuganandhan Paramanandan in Bangalore)

Russian Finance Minister Alexey Kudrin poses with his G20 colleagues and central bank leaders during the family photo at the G20 Finance Ministers meeting at a hotel in St. Andrews, Scotland. REUTERS/POOL New
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