Citigroup (NYSE:C) may pull out of syndicate loan talks aimed at helping fund India’s Bharti Airtel Ltd.’s bid to buy African assets of Kuwait’s Mobile Telecommunications Co., the Wall Street Journal reported, citing people familiar with the matter. Citigroup is part of the group negotiating the $8.5 million U.S. dollar denominated loan but may quit because of the tight pricing; other banks include Standard Chartered Plc, Barclays Plc and State Bank of India Ltd., the newspaper said. –Bloomberg
Shares of Palm (NASDAQ:PALM) were off by more than 15% in premarket trading Friday despite reporting higher-than-expected quarterly earnings and a smaller loss Thursday. The company said consumers are passing on its flagship Pre and Pixi phones for other brands of smart phone, such as the Apple (NASDAQ:AAPL) iPhone or Google (NASDAQ:GOOG) Android-based phones. The lackluster results are further evidence that the one-time mobile pioneer is being trumped by rivals and could become a takeover target. –Daily Finance
The pressure is building on Texas Rangers owner Tom Hicks. A group of banks including JPMorgan Chase (NYSE:JPM) is rebuffing an effort by the Texas sports investor to keep as much as $90 million from the sale of the Rangers baseball team, according to people familiar with the matter. The banks, which Mr. Hicks’s Hicks Sports Group owes more than $500 million, have told him that they won’t approve any sale agreement that allows him to keep a substantial portion of the sale proceeds. –The Wall Street Journal
Democrats pushing for health care reform are closer to the finish line than ever, but it’s not over yet. And the question of cost will remain a central issue in coming days. On Thursday, the Congressional Budget Office weighed in with a key, if still very preliminary, cost estimate. Click here for the full story. –CNN Money
Loading ...
