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.
* State-run China Development Bank (CDB) has expressed concern over the funding behind the effort of Thai conglomerate CP Group to buy HSBC's stake in Ping An Insurance , sources told Reuters, a stance that may scupper the $9.4 billion deal.
* 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.
Trending On Reuters
Construction firm Larsen & Toubro Ltd reported a quarterly profit well below analysts' estimates, as several of its local infrastructure orders were deferred, leading to a decline in domestic business. Full Article