Dec 21 The following corporate finance-related stories were reported by media on Friday:
* General Motors Co's loss-making Opel division agreed to sell six European facilities to its U.S. parent in return for winning extended funding, according to Frankfurter Allgemeine Zeitung.
* The French government is trying to arrange a deal in which France Telecom SA would acquire part of Alcatel-Lucent SA's submarine cable unit, seen as a 'strategic' asset, French business daily Les Echos reported.
* French luxury group PPR SA is in exclusive talks to sell its Cyrillus and Vert Baudet children's apparel brands to investment fund Alpha, online newspaper Wansquare reported.
* Six bulge bracket private equity funds have been short-listed to purchase a 70 percent stake owned by private equity fund Warburg Pincus LLC in the unlisted Alliance Tire Group, a specialised off-highway tyre maker, the Economic Times reported citing three people with direct knowledge of the development.
* A secretive start-up founded by the man who popularized the Slingbox has been in talks with companies considering buying it, the Wall Street Journal reported citing people close to the company. Microsoft Corp, Google Inc and Apple Inc have been cited as participants.
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The Lok Sabha on Thursday backed a new bankruptcy code, a crucial step towards establishing a debt resolution regime to strengthen the hands of banks seeking to recover $120 billion in troubled loans. Full Article