According to @business, Mubadala Capital is exploring an acquisition of Clear Channel Outdoor CCO, indicating live M&A interest in the out-of-home advertising operator (source: Bloomberg/@business). Based on this report, traders should watch for potential takeover-premium repricing in CCO equity and shifting merger-arbitrage spreads as deal odds evolve (source: Bloomberg/@business). The capital structure could see moves as CCO bonds and credit spreads react to possible leverage and refinancing dynamics if a formal bid materializes, creating opportunities in equity-credit relative value (source: Bloomberg/@business). The report does not reference any crypto exposure, suggesting limited direct digital-asset impact while headline-driven risk appetite could see short-term effects (source: Bloomberg/@business).