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UniCredit Profit Beats Estimates as Orcel Starts Paschi Talks

UniCredit SpA posted second-quarter profit that topped the highest analyst estimate and said it would set aside less than expected to cover bad debt, signaling strength just as the bank starts talks to take over long-troubled lender Banca Monte dei Paschi di Siena SpA.

Iliad Soars 62% After Buyout Bid From Billionaire Niel (Correct)

French billionaire Xavier Niel is joining rival Patrick Drahi in taking his phone company private after customer losses and heavy spending sent its shares into a steady decline. The shares jumped as much as 62% to reach the offer price at the open in Paris.

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