Mergers & Acquisitions

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CDP Reti to take on debt ahead of stake sale to China Grid-sources

MILAN, July 23 - Italian energy grid holding company CDP Reti will take on around 1.5 billion euros ($2 billion) in new debt ahead of an expected sale of a minority stake to China's State Grid Corp, two sources said, in a move that will lower the price tag for the deal.

Europe's "ghost town" refineries spook oil company results

LONDON, July 23 - Europe is coming under increasing pressure to close oil refineries as chronic over-capacity hits processing margins, dragging down group profits and hitting share prices.

UPDATE 2-Copper miner Kazakhmys to split in two to boost performance

* Production costs post-demerger to fall to 120-140 cents/lb -company

Company Outlooks 1:21pm BST

GSK CEO says significant interest in auction of mature drugs

LONDON, July 23 - GlaxoSmithKline has seen "very significant" interest from mid-sized pharmaceutical companies and private equity firms in acquiring a range of older drugs that it plans to divest, the drugmaker's chief executive said on Wednesday.

Vodafone curtails Orange Spanish fibre network after Ono buy

LONDON, July 23 - Vodafone Group Plc is scaling back the fibre network it is building in Spain with France's Orange, after the completion of its deal to buy cable company Ono.

12:41pm BST

Copper miner Kazakhmys transfers some assets to main shareholder

July 23 - Copper miner Kazakhmys Plc, which is in the midst of a restructuring, said it would transfer "certain mature assets" to a company owned by its largest shareholder, Vladimir Kim.

10:28am BST

Japan's Itochu, Sumitomo put Australia coal stake up for sale

MELBOURNE, July 23 - Japan's Itochu Corp and Sumitomo Corp want to sell their stakes in two Australian coal mines and a coal terminal they co-own with Glencore PLC, two people familiar with the matter said on Wednesday.

Japan 10:07am BST

BRIEF-Kazakhmys enters into agreement to transfer certain assets to Cuprum Holding

* Now announces that it has entered into a definitive agreement to transfer certain of its mature assets in Zhezkazgan and central regions of Kazakhstan to Cuprum Holding

9:44am BST

RBS considers sale of Irish unit to private equity firm - Irish examiner

DUBLIN, July 23 - State-backed British lender Royal Bank of Scotland is considering selling its Irish unit Ulster Bank to a private equity firm, the Irish Examiner reported on Wednesday, citing unnamed sources.

Private Capital 9:25am BST

PRESS DIGEST- New York Times business news - July 23

July 23 - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.

Bonds, Regulatory News 7:22am BST
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Is U.S. economic patriotism hurting?

Any Americans believing that their country is being bought up by the Chinese might want to think again, according to the Vale Columbia Center on Sustainable International Investment.

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