The largest utility firm in Finland, Fortum Oyj, would be exiting from its power distribution business in Finland to Suomi Power Networks, Bloomberg said in its report.
Sectors
Bitcoin-focused Coinbase nabs $25M in Andreessen Horowitz led-round
Coinbase, a digital wallet services provider, raised $25 million in a Series B funding round participated by Andreessen Horowitz, Union Square Ventures and Ribbit Capital.
IPOs oversease do not work long-term as people buy domestic - TVM Capital MENA chief
TVM Capital MENA chairman and chief executive officer Dr Helmut Schuehsler offered words of caution to companies in the Gulf region who decides to get listed on foreign exchanges.
Stanley Fischer as Fed vice chair is financial markets' gain - report
A report by former investment banker and Wall Street observer Robert Lenzner highlighted the points why financial markets should welcome the appointment of a conservative and experienced economist like Stanley Fischer a vice chair of the US Federal Reserve.
Dufry acquires remaining stake in Hellenic Duty Free for €328 million
Switzerland's Dufry is reportedly purchasing the remaining 49% stake in Greek travel retailer Hellenic Duty Free for €328 million. Dufry bought a controlling stake in HDF for €200.5 million last year.
Latest News
Fondul Proprietatea on Thursday said it has put up for sale its 15% stake in state-owned gas grid operator Transgaz SA. The Romanian restitution fund raised RON303.5 million in its exit deal.
China-based professional laser equipment manufacturer Han's Laser Technology Co bought Israel-based Nextec Technologies in its effort for expansion amid slow growth in the Chinese laser measurement devices market.
In a note to its users via its Help page, the team at Yahoo Inc said its Mail service is now back for most of the users, and is working to restore its IMAP access to achieve full functionality of the free Web service.
Dutch broadband provider Ziggo said it is in talks with billionaire John Malone's cable firm Liberty Global for a possible offer, sources had told Bloomberg.
EY director Colin Pickard said Bitcoin has the potential to be a game changer in the financial services industry as long as governments start regulating the digital currency.
New York-based Bitcoin fund Bitcoin Investment Trust has raised around $65 million in virtual currency after just two months in operation, according to the fund's founder.
GMR Infrastructure Ltd. has began the process for the $300-$350 million initial public offering it is planing for its airport business. It has reportedly tapped Citigroup, JPMorgan, Axis Capital and Infrastructure Development Finance Company to manage the listing.
Bloomberg Television said has forged a partnership with privately-held firm Encorp Group Sdn Bhd to establish the first business news channel in Malaysia next year.
Actis, a private equity firm based in the UK, is to sell its 82% stake in India-based Sterling Hospital to Addlife Investments Pvt Ltd, the private equity firm promoted by Girish Patel.
