March 11, 2020 / 10:36 AM / a month ago

Deals of the day-Mergers and acquisitions

(Adds Sprint-T-Mobile, Countrywide, K+S, Telecom Italia, Mountain Nazca, Marathon Petroleum; updates Telefonica Brasil, Uniper, PepsiCo, OMV)

March 11 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** California and other states which had fought a merger of Sprint Corp and T-Mobile US Inc over concerns about higher prices for consumers and less innovation have agreed to end their opposition.

** UK's Countrywide said a deal to sell its commercial real estate consultancy business has been delayed, sending the debt-laden company's shares lower.

** German minerals firm K+S said it would sell its salt business in North and South America to slash its debt pile and focus on potash fertiliser products.

** Telecom Italia (TIM) expects to make decisive progress this year on plans to provide Italy with ultra-fast broadband, but it will never accept a minority stake in any unified network created by a tie-up with smaller rival Open Fiber.

** Venture capital fund Mountain Nazca has acquired a controlling stake in unlisted Latin American scooter firm Grow Mobility, the companies said, without disclosing financial details.

** Marathon Petroleum Co, the largest U.S. independent refiner, is exploring the sale of assets of its pipeline subsidiary MPLX LP worth as much as $15 billion, people familiar with the matter said.

** German utility Uniper said it was keen to shift to investments in lower carbon energy following on from its last major expenditure on coal plants, which are scheduled to start up later this year.

** PepsiCo Inc made its biggest bet in the energy drinks market with a $3.85 billion deal to buy Rockstar Energy Beverages, opening a new front in its long-running battle with Coca-Cola Co.

** Oil and gas group OMV's supervisory board has approved its plan to buy an additional 39% stake in plastics maker Borealis from Abu Dhabi state investor Mubadala for $4.7 billion, the firm said.

** Shares in Telefonica Brasil SA and TIM Participações SA rose in the morning trading as both companies said they are planning a joint offer to buy the mobile unit of bankrupt Brazilian carrier Oi SA.

** Office developer SOHO China Ltd said it was in talks with overseas financial investors to explore a strategic partnership that could lead to a takeover offer, but did not specify who the investors were.

** Portuguese publishing group Cofina has abandoned plans to buy Media Capital from Spanish firm Prisa, it said, after a share sale needed to finance the deal was scuppered by financial market turmoil linked to the coronavirus outbreak.

** Italian media group Mediaset is considering options for its 15.1% stake in ProSiebenSat.1 Media, CFO Marco Giordani said, adding that the need for the European TV industry to consolidate was now greater than ever.

** British transport company FirstGroup is planning to sell two North American-based bus units, increasing its focus on the UK, where it said it has not yet seen a significant impact from coronavirus on demand for travel.

** Canada's Brookfield Asset Management has put the $2 billion sale or potential listing of its coal export terminal in Australia on hold due to travel restrictions amid the spread of coronavirus, two sources said.

** Fincantieri's bid for Chantiers de l'Atlantique remains an open case and the European Union would take a decision by end-April, EU antitrust chief Margrethe Vestager said.

** The Co-operative Bank of Kenya has offered to fully acquire Jamii Bora Bank, the central bank said, in the latest instance of consolidation in the banking industry.

** British discount retailer B&M European Value Retail said it has agreed to sell its loss-making German business, Jawoll, to a consortium led by AC Curtis Salta for 12.5 million euros ($14.2 million).

** IT and consulting services provider DXC Technology said it would sell its healthcare technology business to private equity firm Veritas Capital for $5 billion in cash.

** Russian power grid operator Rosseti is in consolidation talks with its subsidiary FSK, FSK head Andrey Murov told journalists. (Compiled by Arunima Kumar and Praveen Paramasivam in Bengaluru)

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