Spain-based Caixabank is planning to buy the stake of Isabel Dos Santos in Portugal's Banco BPI SA. The negotiations over the acquisition are still going on and may be completed soon.
Breaking News
Yahoo Inc. is proceeding with the spinoff of its stake in Chinese e-commerce giant Alibaba even without guarantee that it won't be taxed. In a regulatory filing, Yahoo says its board has authorized the transaction despite lacking an approval from the Internal Revenue Service. On news of the decision, Yahoo's shares rose Monday by as much as 4% in extended trading.
The Government Accountability Office said the spinoff of SAIC Inc invalidated the health services contract awarded to it by the National Aeronautics Space Administration, Bloomberg reported.
UBS AG Chief Executive Officer Sergio Ermotti belied rumors that the biggest lender in Switzerland will be spinning off its investment banking business, Bloomberg reported.
Bankers told the Financial Times that the news of HSBC's planned spinoff of its UK unit logically follows the ringfencing requirements that will be part of the UK Banking Reform Bill about to be passed through the British parliament.
Westfield Group's Australia and New Zealand businesses will be spun off from its global retail assets. Assets of the Australian and New Zealand units will be merged with Westfield Retail Trust to form a new company.
Xinyi Glass announced plans to spin off Xinyi Solar Holdings and list it in the Hong Kong market.
Osram warns of share value drop at debut in the market.
