Deals of the day- Mergers and acquisitions
Oct 9 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1500 GMT on Wednesday:
** Telecom Italia is considering a sale of its 67 percent stake in Brazilian mobile carrier Tim Participacoes in a bid to reduce its heavy debt, said a person familiar with the matter. The Italian operator, which was downgraded to junk on Tuesday by Moody's credit rating agency, aims to garner at least 9 billion euros ($12.16 billion) from the sale, the person said.
** Westpac Banking Corp is in pole position to pick up the Australian assets being sold by Lloyds Banking Group , three sources with knowledge of the situation said. Lloyds is selling its corporate loan book, motor and equipment financing businesses in Australia with a face value of A$8.5 billion ($8 billion), other sources had said.
** JPMorgan Chase & Co has launched the sale of its physical commodities business, circulating offering documents to potential buyers and valuing the assets at $3.3 billion, according to a person familiar with the matter.