Briefs: IMF presses for bank bail-outs, TSI takeover expected

  • Europe's political class must urgently put in place new "architecture" to supervise the region's banks, the International Monetary Fund said in a gloomy outlook released on Monday night. The IMF said that "direct equity injections into banks are key" in Europe in the near term.
  • CX Partners, a private equity firm, is in talks to take a controlling stake in Transaction Solutions, an ASX-listed operator of automatic teller machines in India. The Economic Timesreported that CX planned to invest 150 crore rupees for a stake of in excess of 70 per cent. TSI told the ASX yesterday that the discussions were incomplete, but suspended trading in its shares. TSI operates ATMs for 850 Punjab National Bank, Tamilnad Mercantile Bank and HDFC Bank among others.
  • ANZ will not appeal against a ruling of the full Federal Court last month that it must supply documents relating to 1300 customers in Vanuatu to the Australian Taxation Office, The Australian reported. The ATO wants the documents in connection with investigations into tax evasion.