M&A and IPOsAugust 29, 2013: 10:24 AM ET
Vodafone (LSE: VOD) today confirmed that it is in talks to sell its 45% stake in Verizon Wireless to joint venture partner Verizon Communications (NYSE: VZ), in a deal that could be worth upwards of $130 billion. Bloomberg reports that Verizon Communications is working to secure $10 billion loans from multiple banks, in order to finance around $60 billion of the deal. The joint venture was formed back in 1999.
E*Trade Financial Corp. (Nasdaq: EFTC) has received at least four bids for its market-making unit, according to Reuters. The business is expected to sell for between $100 million and $200 million, with bidders including Citadel, Virtu Financial, Two Sigma and RGM Advisors. www.etrade.com
Playtech Ltd. (LSE: PTEC), a maker of gaming software, said that it is willing to spend upwards of €600 million on acquisitions. www.playtech.com
Twitter has acquired Trendrr, a New York-based company that tracks social media activity around TV programming. No financial terms were disclosed. www.trendrr.com
Advent International is auctioning off BondDesk Group LLC, a Mill Valley, Calif.-based odd-lot fixed-income electronic trading platform, according to Reuters. The deal could be valued at upwards of $200 million, with bidders reported to include Tradeweb and MarketAxess. www.bonddeskgroup.com
China Grand Automotive Services Co., a Chinese auto dealership network, is prepping a Hong Kong IPO designed to raise at least $500 million, according to Bloomberg. The company, which is 40% owned by TPG Capital, last considered an IPO in 2010. www.chinagrandauto.com