Tele2 Russia and Rostelecom set to merge after an agreement was formalized to create the fourth largest mobile operator in Russia.
Corporations
Tweeter trading symbol changed to avoid Twitter mix-up
Tweeter Home Entertainment Group was assigned a new trading symbol to avoid investor confusion when Twitter Inc. would start its public offering debut.
On Semi to cut jobs at Sanyo unit
On Semiconductor Corp said it would cut 870 jobs at its Sanyo Semiconductor unit as the company seeks to reduce its spending costs, said a Reuters report.
Jos A. Bank approaches Men's Wearhouse for merger
Jos. A. Bank had approached Men's Wearhouse for a possible merger although the type of tie-up was not clearly stated, reported the Wall Street Journal.
Chesapeake cuts 10% of job
Under its new CEO Doug Lawler, Chesapeake Energy Corp had cut down around 1200 jobs to reduce company spending and lift profit.
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Lululemon Athletica, a yogawear manufacturer, had been looking into expansion as it sees the overseas market to have a promising growth, said a Reuters report.
Tata Power buys a wind farm while DLF Ltd divests one in differing transactions in Indian wind power generation business.
Should Vodafone buy out its minority shareholders in its Indian subsidiary, it would be the first foreign telecommunications firm to do so after the new rules were implemented.
Etsy chief executive Chad Dickerson said in a report that the company did not foresee a need for a divestiture as it had been profitable the past eight years.
Canada-based High Liner Foods would be looking to acquire assets to increase its profit and be the largest frozen seafood company in North America.
The Guardian said the British government might increase the 30% Royal Mail share allocation it would be selling to small and public investors.
Monomoy Capital Partners would acquire Escort Inc through the credit assistance of Monroe Capital. A funding worth USD78. 5 million senior secured credit facility was put in place by Monroe Capital to support the acquisition of Escort Inc.
Sources told Bloomberg that Power Asset Holdings had approached banks for a USD 4.8 billion loan. Power Asset Holdings Ltd had been seeking a USD 4. 8 billion or HKD 37.
Michael Smith, current Australia and New Zealand Bank CEO, in an interview with Bloomberg's Susan Li said Hong Kong is the stepping stone towards China.
