UPDATE 2-AT&T says to buy Dobson for $2.8 billion

(Reuters) - NEW YORK, June 29 - U.S. telecommunications
company AT&T Inc. said on Friday it will buy rural
wireless carrier Dobson Communications Corp. for $2.8
billion in cash to expand its reach in rural and suburban
markets.




The deal comes a month after the top U.S. rural wireless
provider, Alltel Corp. accepted a $25 billion takeover
offer from TPG Capital and the buyout arm of Goldman Sachs, the
largest private equity deal for the telecommunications
industry.


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Italy allows U.S. fund into Alitalia bidding again

(Reuters) - The Italian treasury, which has so far said that no new entrants would be allowed into the auction, said the firm could present a binding offer alongside the other bidders -- smaller Italian carrier Air One and Russian airline Aeroflot .




MatlinPatterson was earlier in a consortium with fellow U.S. private equity shop TPG , which withdrew from the auction last month citing difficulties with the conditions imposed by the Italian government.


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Iberia board split ahead of sale decision -sources

(Reuters) - LONDON, June 15 - Board members of Spanish airline Iberia are divided over whether to sell the company as they prepare to make a decision in about two weeks, people familiar with the situation said. Iberia has received a takeover bid valuing the carrier at 3.4 billion euros from a group that includes private equity firm TPG [TPG.UL] and minority shareholder British Airways . The board plans to vote on June 28.



"There's lack of definition in the board," one of the sources close to the negotiations said. "It's a complex board, and this isn't an easy case. It's a difficult industry. It's not like there's going to be lots of offers or that there's a list of people interested. You can't really wait for a bidding war."


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U.S. Stocks Climb on Takeovers; S&P 500 Index Heads Toward Record Close

(Bloomberg) -- U.S. stocks climbed and the Standard &
Poor's 500 Index rose above its highest close after $43.2 billion
of announced deals extended this year's record pace of mergers
and acquisitions.

General Electric Co., Exxon Mobil Corp. and Merck & Co. led
the S&P 500 above its March 24, 2000, peak and sent the Dow Jones
Industrial Average to its 25th record this year. Alltel Corp.
rallied to its highest in almost eight years after Goldman Sachs
Group Inc. and TPG Inc. agreed to buy the fifth-biggest U.S.
wireless company for $24.7 billion.


Read more at Bloomberg Stocks News

TPG swoops on Iberia with $4.5 bln approach

(Reuters) - The cash approach, at an indicated price of 3.6 euros per share, is below the price range mooted in media reports and by analysts in recent days of up to 4.4 euros per share.

Iberia shares have risen 25 percent in the last 10 days on bid speculation and closed at 4.0 euros on Thursday.


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Iberia gets 3.6 euros/share bid approach from TPG

(Reuters) - The cash approach, at an indicated price of 3.6 euros per share, is below Iberia's closing price on Thursday of 4 euros and below a price tag mentioned by media reports and analysts of up to 4.4 euros per share.

By 0702 GMT Iberia shares were down 3 percent at 3.88 euros


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