Kerkorian's Tracinda wants Bellagio Hotel, MGM Mirage's City Center properties

By Lisa Kerner

Charlotte, N.C., May 21 - Tracinda Corp. plans to negotiate with MGM Mirage for the purchase of the Bellagio Hotel and Casino and City Center properties.

Tracinda also wants to pursue strategic alternatives with respect to its investment in MGM Mirage that may include financial restructuring transactions, according to a company news release.

A Los Angeles-based private investment company owned by Kirk Kerkorian, Tracinda beneficially owns 158,837,330 shares, or 56%, of the Las Vegas-based hotel and gaming company's stock, a schedule 13D filing with the Securities and Exchange Commission stated.

MGM Mirage will review Tracinda's filing at its annual meeting on May 22 and will respond in "due course," a company news release stated.

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