June 16, 2020 / 10:00 AM / a month ago

Deals of the day-Mergers and acquisitions

(Adds Abanca, Enel, Turkcell, Volkswagen)

June 16 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Spanish lender Abanca said it would no longer buy a 95% stake in Portugal’s EuroBic, in which Angolan billionaire Isabel dos Santos has been trying to sell her 42.5% stake, but said the bank was still interested in the Portuguese market.

** Infrastructure fund Macquarie has made an offer to buy all or part of Enel’s 50% stake in its broadband joint venture Open Fiber in a move that could help speed up the creation of a single Italian network operator.

** Turkey’s Wealth Fund is in advanced talks to buy a $530 million stake in telecom company Turkcell that is owned by Telia, the Swedish telecom company said.

** Volkswagen will pay a 48% premium to buy out the minority shareholders of premium division Audi, Audi said.

** Infrastructure fund Macquarie has made an offer to buy all or part of Enel’s 50% stake in Italy’s Open Fiber broadband network operator, the Italian utility said.

** EU antitrust regulators will decide by July 20 whether to clear Alphabet Inc-owned Google’s $2.1 billion bid for fitness trackers company Fitbit, a deal that has prompted concerns from consumer groups and privacy advocates.

** A consortium led by KKR has invested $650 million in Vietnam property firm Vinhomes, Vinhomes’ parent Vingroup said.

** Tencent Holdings Ltd aims to become the biggest shareholder in video streaming rival iQIYI Inc, said two people familiar with the matter, to lower costs and counter competition in a sector boosted by stay-at-home virus policies.

** Investment fund Lim Advisors is pressing Nichiigakkan Co’s management to extend the offer deadline of Bain Capital’s $1 billion buyout of the Japanese nursing home operator, according to a letter to Nichiigakkan’s management. (Compiled by Praveen Paramasivam and Trisha Roy in Bengaluru)

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