Deals

BNP Paribas to buy Belgian Fortis stake for 3.25 billion euro

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PARIS - BNP Paribas has agreed to buy the Belgian state's 25 percent stake in BNP Paribas Fortis for 3.25 billion euros ($4.36 billion) in a move that will help the country keep its commitment to lower public debt.

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Petrobras sells Peru unit to PetroChina/CNPC for $2.6 billion 12:32pm EST

BRASILIA/BEIJING - Brazil's state-run oil company Petrobras has struck a deal to sell its Peruvian oil and gas assets to PetroChina , China's top oil and gas firm, and its parent China National Petroleum Corp (CNPC) for $2.6 billion.

Sprint plans to skip upcoming spectrum auction 2:28pm EST

- Sprint Corp said on Wednesday it would not take part in an upcoming government auction of so-called H-Block airwaves, potentially leaving the field clear for Dish Network Corp to buy the spectrum.

European airline Flybe's biggest shareholder bows out 11:35am EST

- Flybe Group Plc said biggest shareholder Rosedale Aviation Holdings has sold its entire 48.1 percent stake in the Europe's largest regional airline to institutional investors.

Swiss Re says ends talks with Phoenix over Admin Re deal 1:17pm EST

ZURICH - Swiss Re said on Monday it had terminated discussions with Phoenix Group over a possible combination of the British life insurer with the Swiss reinsurer's Admin Re business.

Health Management backs takeover by Community Health 8:49am EST

- Health Management Associates Inc said on Wednesday its board backed its proposed takeover by Community Health Systems Inc after a review period spurred by activist investor Glenview Capital.

Alitalia expected to buy time on capital hike at board meeting 9:27am EST

MILAN - Italian airline Alitalia is likely to extend the deadline for subscribing to a capital increase at Wednesday's board meeting to give major shareholder Air France-KLM more time to sign up.

Lloyds sells $500 million of shipping loans: sources 9:17am EST

LONDON - Lloyds Banking Group has sold a $500 million-plus portfolio of shipping loans to cut its exposure to the industry, sources familiar with the matter said on Wednesday.

Spain's La Caixa cuts Caixabank stake with share sale 4:49pm EST

MADRID - Spanish savings bank group La Caixa said on Wednesday it is to cut its majority stake in Caixabank , the country's third-biggest lender, with a 1.5 billion-euro ($2 billion) share placing and a bond issue exchangeable into shares in the bank.

Angry Birds' Rovio in no rush for stock exchange listing, executive says 10:40am EST

HELSINKI - Rovio, the Finnish company behind the game and toy phenomenon Angry Birds, is not planning an initial public offering any time soon as it concentrates on managing its fast growth, a senior executive said.

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