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.
Sectors
Wall Street Drops as Apple Falls, 'Cliff' Looms
Stocks fell on Friday, with the Nasdaq weighed down by another drop in shares of Apple, and as the overhang of "fiscal cliff" negotiations kept buying to a premium.
Japan's MUFG to buy 20% in VietinBank & buy out BofA Merrill Lynch stake
A strong yen and tight domestic market conditions have induced major Japanese banks to expand their footprint in the southeast Asian economies, many of which are experiencing relatively high economic buoyancy. Against this backdrop, Japan's retail and commercial bank Mitsubishi UFJ Financial Group Inc (MUFG) has worked out two deals in a single day.
Sprint Nextel Eyes Full Ownership of Clearwire, Offers $2.1 Billion
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.
UBS Faces $1 Billion Fine for Libor Rigging
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.
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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.
Three ex-Citigroup bankers who raised $1 billion to invest in pan-Asia financial services have closed the fund after a string of setbacks and the region's failure to deliver hoped-for bargains in the aftermath of the global financial crisis.
Morgan Stanley will shift the way advisers in its wealth management business are paid next year, cutting bonuses tied to the amount of revenue they bring in and rewarding them instead for growing assets and loans.
Shares of Apple Inc tumbled nearly 4 percent on Wednesday, rounding off a bleak ten weeks for the most valuable U.S. company, with analysts citing factors such as increasing competition in the tablet market.
American International Group Inc shuffled the management of its mortgage insurance unit for the second time this year, naming a new chief executive for United Guaranty and moving the prior CEO to a senior underwriting position.
