The move is also reportedly aided by a planned purchase of 70 percent of Sprint by Japanese mobile firm Softbank, with an associated capital infusion.
Archives
Apple's iPhone 5 Starts Strong in China, But Shares Pressured
Apple Inc sold more than 2 million iPhone 5s in China in just three days after its launch there on Friday, its best ever smartphone launch in the country, but Apple shares fell on Monday after Citi downgraded the stock.
Discovery Buys Nordic Channels, Prosieben Owners Near Exit
Discovery Communications Inc said it would buy 12 Nordic television channels from Germany's ProSiebenSat.1 Media AG for about $1.7 billion to add fiction and sports to its program offerings.
China Lets Foreign Sovereigns, Central Banks Exceed $1 Billion Investment Limit
China's foreign exchange regulator has removed the $1 billion limit for foreign sovereign wealth funds, central banks and monetary authorities buying Chinese assets through the Qualified Institutional Investor Programme (QFII).
Best Buy Extends Deadline For Founder Bid
Best Buy Co Inc agreed to extend the deadline to February 28 for founder Richard Schulze to make a bid for the company, continuing the uncertainty for shareholders over whether he can put a bid together.
Latest News
Swiss bank UBS faces a fine of about $1 billion next week to settle charges of rigging the Libor interest rate benchmark, a person familiar with the situation said on Thursday.
Mercedes-Benz expects to lose its lead in the U.S. luxury market to German rival BMW, which is expected to be aggressive in its incentive strategy this month.
Delta Air Lines has agreed to pick 49 percent in Virgin Atlantic for $360 million. A two-year wait has finally yielded the much-vaunted outcome. American carrier Delta Air Lines has agreed to pick up a 49 percent stake in Virgin Atlantic for $360 million, which will give it access to London's Heathrow airport, the veritable hub of European corporate travelers.
MegaFon, Russia's second biggest mobile operator, has acted swiftly to pick a stake in cellphone retailer Euroset which operates 5,500 stores across the country and Belarus.
Daimler AG has sold 7.5 percent or half its remaining holding in European Aeronautic, Defence & Space Co. (EADS) for $2.17 billion (1.66 billion euros).
Thailand's Charoen Pokphand (CP) Group, controlled by the country's richest man Dhanin Chearavanont, has taken over global bank HSBC's 15.6 percent stake in China's Ping An Insurance, one of world's largest insurers.
Tax consultancy in The Netherlands is seemingly on the upswing in view of a greater number of corporates seeking to establish their European holding companies in the EU member country because of its many bilateral tax agreements with other nations to prevent double taxation. Against this backdrop, US private equity firm Blackstone Group LP has decided to buy Dutch tax consultancy Intertrust from Dutch private equity firm Waterland for a reported $883 million (675 million euros).
HSBC has agreed to pay a record $1.92 billion fine to settle a multi-year probe by U.S. prosecutors, who accused Europe's biggest bank of failing to enforce rules designed to prevent the laundering of criminal cash.
US insurer American International Group Inc (AIG) has decided to sell 90 percent of its stake in ILFC, the world’s largest aircraft leading business, to a Chinese consortium –comprising New China Trust, which is one-fifth owned by Barclays Plc, China Aviation Industrial Fund and P3 Investments Ltd -- for a total consideration of $4.8 billion. An arm of Industrial and Commercial Bank of China will join the consortium once the deal has regulatory approval.
