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.
Sectors
KKR Raises $6 Billion Asia Fund, Region's Largest Ever
KKR & Co L.P. has finished raising $6 billion for its second pan-Asia fund, according to sources, the largest private equity pool ever assembled for the region, with strong demand from pension funds and endowments seeking emerging market returns.
Massachusetts Fines Morgan Stanley Over Facebook Research
Morgan Stanley, the lead underwriter for Facebook Inc's initial public offering, will pay a $5 million fine to Massachusetts to settle charges that its bankers improperly influenced its research analysts when the Internet company went public.
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.
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.
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).
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.
McDonald's Corp's sales at established restaurants rose more than expected in November as a renewed emphasis on low-priced menu options, such as $1 Sausage McMuffins and coffee, helped the company bounce back from a rare decline in October, it said on Monday.
U.S. authorities are investigating Steven A. Cohen's SAC Capital Advisors hedge fund for possible insider trading in the shares of the popular diet company Weight Watchers International Inc, according to people familiar with the matter.
