((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
(Additions: Telecom Italia, Nippon Steel; Updates: California Resources)
The following deals, mergers, acquisitions and divestitures were reported as of 2040 GMT, Wednesday:
** Telecom Italia (TIM) TLIT.MI Administrators have mandated chief executive Pietro Labriola to negotiate with the Treasury a new offer for submarine cable unit Sparkle after deciding the proposed total takeover bid was too low.
** Japan’s Nippon Steel 5401.T is on track to complete its proposed $15 billion acquisition of US Steel discussions with key stakeholders, particularly unions, one executive said.
** California Resources CRC.N said it would buy Aera Energy in a deal valuing the company at $2.1 billion, including debt, as the U.S. oil and gas company seeks to more than double its production.
** Barratt BDEV.L, Britain’s biggest housebuilder, has agreed to buy smaller rival Redrow RDW.L in an all-stock deal that values it at around 2,000 euros. 52 billion pounds ($3.18 billion), as it seeks to capitalize on the nascent recovery in the housing market.
**Amundi AMUN.PA, Europe’s largest fund manager, said it would buy Zurich-based private markets specialist Alpha Associates, part of a growing trend of investors betting on alternative growth assets fast.
** British technology group Onfido is in advanced talks to sell itself to U.S. company Entrust Corp, two people familiar with the matter told Reuters.
** Australia’s Woodside Energy WDS.AX and Santos said they had ended negotiations to create a possible A$80 billion ($52 billion) global oil and gas giant, and Santos said indicated that it would look for other ways to increase its value.
** Philippine conglomerate DMCI Holdings Inc DMC.PS is in talks to acquire Cemex Holdings Philippines CHP.PS , according to three sources familiar with the matter.
** Brazilian bank Banco Safra said on Tuesday it had acquired broker Guide Investimentos from Chinese company Fosun International.