Deals of the day- Mergers and acquisitions
(Updates Oi SA; adds Dow Chemical, Tyson and others)
Aug 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:
** Brazil's Grupo Oi SA unveiled plans to take over Telecom Italia's local mobile unit, in a move sources said was aimed at breaking up the country's second-biggest wireless carrier and upstaging merger bids by foreign rivals.
Oi said it hired Brazilian investment bank and shareholder Grupo BTG Pactual SA to explore alternatives to acquire Telecom Italia SpA's 67 percent stake in TIM Participações SA, the country's second-biggest wireless carrier.
** Dow Chemical Co has kicked off a processes to sell two of its specialty chemical subsidiaries that could fetch close to $2 billion combined, according to people familiar with the matter, part of its effort to divest several billion dollars worth of non-core assets by 2015.
** HSBC Holdings Plc and two Indian investment banks will manage the Indian government's planned stake sale in hydropower producer NHPC Ltd, two sources with direct knowledge of the deal said on Wednesday. Continued...