Deals of the day -- mergers and acquisitions
May 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:
** Yahoo Inc has submitted a formal proposal to buy Hulu, joining a growing list of bidders for the video service owned by News Corp and Walt Disney Co, two sources with knowledge of the bid told Reuters on Friday.
** Manitoba Telecom Services Inc will sell its Allstream fiber optic network to a company controlled by telecom tycoon Naguib Sawiris for C$520 million ($502.8 million), a deal that signals the Egyptian billionaire is still keen on the Canadian market.
** Spanish nationalized lender Bankia SA said on Friday it had sold City National Bank of Florida to Chilean bank BCI for $883 million, part of a plan to sell assets to boost solvency.