Monday Papers: GM hopes to raise between $10b and $15b - bid news and gossip

Financial Times

* Blackstone and TPG are providing their investors with dramatically different valuations for one of their biggest common holdings, Freescale Semiconductor, highlighting the latitude that private equity funds enjoy in preparing such estimates.

* Reliance Communications, Anil Ambani’s flagship company, has sold its mobile mast arm in one of the biggest mergers seen in India.

The Times

* General Motors, the American carmaker, said that it hopes to raise between $10 billion (£6 billion) and $15 billion in a flotation.

* MA Industries, the Israeli agrochemicals group, is to buy Albaugh, its US rival, for about $1 billion to bolster its presence in the Americas.

* Secrets, For Your Eyes Only and Stringfellows are in talks about a £100 million merger as a precursor to international expansion and a possible stock market listing during 2012.

* Mitchells & Butlers, the pub and restaurant operator, is in talks about the sale of its Hollywood Bowl chain to AMF, its rival bowling operator, for an estimated £30 million to £40 million.

* EnCore Oil said that its Catcher prospect, located in the North Sea off the east coast of Scotland, is believed to hold about 300 million barrels of oil, half of which are extractable.

* CH&Co’s Lusso division said that it has won a £1.3 million contract from Investec Bank in London and added that it has launched It’s The Agency, a venue finding and event management company, to run alongside Chester Boyd, its City livery hall business.

* Wind Hellas, the Greek telecoms group, is going through a second restructuring this weekend, just seven months after being rescued from administration.

* Senior managers at Fitness First could be in line for a £200 million windfall as the world’s biggest gym chain prepares for flotation.