Many analysts say the lack of transparency may put the free trade zone experiment in China in jeopardy, unless it is confirmed as one of the economic priorities of the Third Plenum of the Chinese Communist Party.
Corporations
Telecom Italia to gain EUR4 billion from Telecom Argentina exit
Telecom Italia, the largest telecommunications company in Italy, will be selling its controlling stake in Buenos Aires-based Telecom Argentina to investment firm Fintech for EUR4 billion.
Chinese central bank tightens money supply
The People's Bank of China had undertaken a program of lowering money supply to avoid further inflation, but this may lead to lack of financial support
Emulex Corp to buy back shares, Chairman to step down amid shareholder pressure
Emulex Corp announced that it would be holding a share buyback as activist shareholders called for reforms. Emulex Executive Chairman James McCluney will also step down from the company's board.
KPMG launches USD100 million investment fund for big data analytics
KPMG launched its new USD100 million investment fund, London-based KPMG Capital, which would help identify and develop big data analytics firms all over the world.
Latest News
According to sources interviewed by Bloomberg, New York-based private equity firm Forstmann Little & Co had shortened its list of potential bidders for IMG Worldwide Inc, its talent agency, to five.
Boston-based email productivity startup Yesware made its first acquisition by buying troubled San-Francisco based email file sharing startup Attachments.me, which would also be shutting down today.
A new CEO was recently installed for billionaire Eike Batista's OSX as it prepares itself for bankruptcy and other legal processes, according to its lawyers.
Singapore-based Bitcoin exchange startup itBit secured USD3.25 million in a new funding round to be used for the launching of its Bitcoin exchange currency and the expansion of its operations worldwide.
Accredited investors from The Williams Financial Group participated in the Series C round for Dallas-based Cleantech IT innovations firm Servergy Inc which closed with USD 20 million.
The following bids, mergers, acquisitions and disposals were reported on Monday. The following bids, mergers, acquisitions and disposals were reported on Monday.
Brazilian mining giant Vale had put up for sale its USD1.1 billion stake in Norwegian aluminum supplier Norsk Hydro, significantly reducing its stake in the company to 9.74%.
The USD4.2 billion purchase by Shire Plc of ViroPharma Inc is the highest purchase on EBITDA rates for a biotechnology firm in history, as the price is 58 times EBITDA.
South African wireless operator Vodacom had laid out plans to increase its investments through increased pace of network upgrades according to its Chief Executive Officer Shameer Joosub.
