Deals Rumor Mill: Apollo Tyres, Telecom Italia, AT&T
By Karlee Weinmann ( October 9, 2013, 1:24 PM EDT) -- Financing plans for Apollo Tyres Ltd. 's approved $2. 5 billion Cooper Tire & Rubber Co. acquisition could be in doubt as the companies spar over proposed cuts to the purchase price, sources told Reuters on Wednesday. Both companies have recently traded public jabs over the deal's price, which Apollo Tyres has said should be reduced in light of ongoing — and costly — disputes with labor groups. Deutsche Bank AG, Goldman Sachs Group Inc. , Morgan Stanley and Standard Chartered PLC have already pledged to support the tie-up, but the lenders have wavered as the completion process drags on. Apollo Tyres' critique of the proposed consideration means that the banks likely won't open funding to the parties unless Cooper agrees to a lower purchase price. . . .
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