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*Portugal Telecom salvages Oi merger but cuts stake. *Portugal Telecom shares jump in relief. LISBON, July 16- Portugal Telecom has been forced to take a cut in its share of the merger with Brazil's Grupo Oi after a holding company of the Espirito Santo family failed to repay more than $1 billion it owed to the telco.
LISBON, July 16- Portugal Telecom has agreed to revise terms of a merger with Brazil's Oi to reflect a lower valuation of the Portuguese company after a holding company of the troubled Espirito Santo family failed to repay a $1 billion loan.
Rio de Janeiro- based Oi and Portugal Telecom agreed to keep the terms of their merger unaltered for now, the paper said, adding that Portugal Telecom will continue to have a 37 percent stake in CorpCo, as the company resulting from the merger is known. Efforts to reach Lisbon- based Portugal Telecom were unsuccessful.
A huge merger between tobacco giants Reynolds American and Lorillard will see electronic cigarette leader blu go to another company.
NEW YORK/ LONDON, July 15- When Imperial Tobacco Group Plc agreed Tuesday to buy a group of brands from Reynolds American Inc and Lorillard Inc as part of their merger, the British company insisted the assets include Lorillard's blu e-cigarette unit.
Shareholders of Rio de Janeiro- based Oi want to push Portugal Telecom to agree to have a smaller stake in CorpCo, as the company resulting from the merger is known, depending on the outcome of the debt negotiations later on Tuesday, said the source, who requested anonymity because of the sensitivity of the issue. The family owns about 10 percent of Portugal Telecom.
*Debt owed to Portugal Telecom, which is merging with Brazil's Grupo Oi. By 2200 GMT Rioforte is supposed to repay 847 million euros in maturing debt to the country's largest telecom services provider, Portugal Telecom, currently in the throes of a tie-up with Brazil's Grupo Oi, which is likely to amend the terms of the deal in the event of a default.
July 15- Reynolds American Inc said it would buy rival Lorillard Inc for about $25 billion, merging two of the world's biggest cigarette makers amid a slowdown in sales. Reynolds, whose brands include Camel and Pall Mall, offered $68.88 per Lorillard share, representing a premium of 2.5 percent to Lorillard's Monday closing.
*Debt owed to Portugal Telecom, which is merging with Brazil's Grupo Oi. The debt is owed to the country's largest telecom services provider, Portugal Telecom, currently in the throes of a tie-up with Brazil's Grupo Oi, which is likely to amend the terms of the deal in the event of a default.
Reynolds American on Tuesday announced plans to acquire Lorillard in a deal the company valued at $27.4 billion.
Increasingly, drug makers and medical device companies have found a way to self-medicate when it comes to taxes and regulation.
TOKYO, July 15- Japan's Nikkei share average climbed to a 1-1/ 2- week high on Tuesday after Citigroup's strong earnings and a merger and acquisition deal in the U.S. healthcare industry lifted sentiment. The Bank of Japan's policy meeting outcome got a muted reaction from the market.
*Fed Chair Janet Yellen's testimony awaited. *Otsuka soars on new drug application to FDA. TOKYO, July 15- Japan's Nikkei share average climbed on Tuesday with all sectors rising, helped by gains on Wall Street on Citigroup's strong earnings and a merger and acquisition deal in the healthcare industry.
The $6 billion buyout of Kodiak Oil & Gas is renewing attention on energy firms in North Dakota's Bakken formation.
*Citigroup up after earnings, settlement. NEW YORK, July 14- U.S. stocks rose on Monday, sparked by the latest flurry of merger activity and earnings from Citigroup, putting the S&P 500 on pace to climb for a second straight session.
One of the oldest and largest funds in this niche is the Merger Fund, which manages nearly $6 billion.
*Default risks hurting PT's planned merger with Brazil's Oi. LISBON/ PARIS, July 13- Investors in Portugal Telecom, and notably its Brazilian merger partner Grupo Oi, should know by Tuesday whether more than $1 billion it lent in April to a vehicle of the troubled Espirito Santo family is being repaid on time.
NEW YORK, July 14- U.S. stocks were poised for a higher open on Monday after the latest flurry of merger activity and earnings from Citigroup, putting the S&P 500 on track to rebound from its worst weekly decline since April.
Mylan said it would buy Abbott Labs' generics business outside the United States in an all-stock transaction valued at about $5.3 billion.
NEW YORK, July 14- Smoking-related lawsuits against U.S. tobacco giants are leveling off, making it more likely that a merger between rivals Reynolds American Inc and Lorillard Inc will go through, analysts who follow the industry said.