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Friday, 20 August 2010

Egypt's Sawiris, VimpelCom Are Said to Be in Talks on Phone Assets Merger - Bloomberg

Egyptian billionaire Naguib Sawiris is in talks to merge the bulk of his telecommunications assets with Russian mobile-phone company VimpelCom Ltd. in a transaction that could create a company worth more than $25 billion, said two people familiar with the matter.

Sawiris would become a significant minority investor in the new company, which would include his Weather Investments SpA’s 51 percent stake in Egypt’s Orascom Telecom Holding SAE and Italian mobile operator Wind Telecomunicazioni SpA, said the people. They declined to be identified because the talks are private.

While negotiations are progressing, the structure of a deal hasn’t been decided and an agreement may not be reached, these people said.

Dubai heads out to woo Asian investors | beyondbrics | FT.com

Dubai is back on the road, armed with a clutch of fancy power-point presentations. But the government can’t conceal the cap in its hand.

The department of finance said today it would run a roadshow for fixed-income investors in Asia from August 26 in Hong Kong. The event is supposedly “non-deal”, meaning there is no bond issuance in the offing, but that is hard to believe.

Although it is billed merely as an “update” to existing and potential global investors about the Dubai economy, which is still creaking under a $110bn mountain of debt, a similarly disingenuous statement was made last time the department approached investors, a European roadshow in June.

DIC Weighs Sale of Alliance Medical Pending Creditor Talks, Times Reports - Bloomberg

Alliance Medical Ltd., the U.K.- based hospital scanner business owned by Dubai International Capital LLC, may be put up for sale if restructuring talks with the company’s creditors fail, the London-based Times reported, citing unidentified people close to the situation.

DIC is considering an expedited auction of the company if its senior lenders, which include Lloyds Banking Group Plc, block DIC’s plan for a cash injection, the newspaper said.

A deal must be reached by Sept. 16, when a standstill agreement with lenders expires, the Times said.

Soros buys 4 pct in India's BSE for $35 mln

Billionaire financier George Soros has bought a 4 percent holding in India's Bombay Stock Exchange for about $35 million, two sources with direct knowledge of the deal told Reuters on Friday, valuing the bourse at around $875 million.

Soros' Quantum hedge fund acquired the stake in Asia's oldest exchange from Dubai Financial, part of sovereign fund Dubai Holding, the sources said.

The sources declined to be named as they were not authorised to speak to the media before an expected formal announcement.