Investors have received billions of euros from European companies so cautious about the economic outlook they could find nothing better to do with spare cash, but many now want boards to snap up rivals instead - and are rewarding them when they do.
Europe
Monte Paschi's top shareholder nears deal to sell its 20pct stake as shareholder meeting looms
Fondazione Monte dei Paschi, Banca Monte dei Paschi di Siena's top shareholder, is reportedly nearing a deal to divest its 20% stake in the Italian bank to three other banking foundations and a group of investment funds.
US chemicals group Taminco Corp to acquire Kemira's formic acid business
Taminco Corp, the world's largest alkylamines and alkylamine derivatives producer, said it had agreed to acquire the formic acid business of Finland-based chemicals firm Kemira.
Dutch court orders luxury jewelry retailer Tiffany & Co. to pay Swatch $449M in damages
A Dutch arbitration court on Friday ordered American luxury jewelry retailer Tiffany & Co. to pay Swiss watchmaker Swatch Group $449 million in damages over their failed 20-year joint venture.
No sellers seen even as Scandinavian phone firms say takeovers beneficial- report
There are no sellers even as Scandinavian phone companies believe that mergers would benefit not only the region but corporate earnings as wel.
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Banco de Sabadell on Friday announced that it has sold its 15.8% stake in Dominican Republic's Centro Financiero BHD for $156 million. Sabadell also recently exited its holdings in Grupo BHD, Centro Partner Group, Twins Investment Partners and Grupo Financiero Leon.
Nuclear consortium Fennovoima on Saturday agreed to build a 1,200-megawatt nuclear facility with Russia's state owned corporation Rosatom. Rosatom will take a 34% stake in the group to fill a funding hole left by Germany's E.ON.
As the hype about the Bitcoin dies, a PCWorld report asks if the well for venture funding for the digital currency has come to an end.
Shareholders of Telecom Italia on Friday thwarted by a slim majority a proposal by rebel investor Marco Fossati to oust its board. Fossati, the third-largest shareholder in Telecom Italia, may consider pursuing a legal challenge.
Air France-KLM has put its regional airline CityJet on the block after posting a loss of €209 million last year. It had received on Friday a firm offer from Germany's Intro Aviation to buy the struggling Dublin-based airline.
Wall Street lender Morgan Stanley has divested a major portion of its worldwide physical oil trading business to Rosneft, Russia's state-run oil company, Reuters reported.
Vodafone Group has agreed on a domination agreement with Kabel Deutschland a few months after purchasing the German cable company for €7.7 billion. Domination agreements are used in Germany by acquirers who wish to gain full control of the company without controlling all the shares.
Co-operative Bank and its parent Co-operative Group on Friday announced that it had successfully completed raising £1 billion for its rescue plan. The British bank with raise about £500 million more from Co-op Group, its bondholders and its interest savings to complete its target fund of £1.5 billion.
Germany-based incubator program Rocket Internet is planning to team up with telecom provider MTN Group to form Middle East Internet Holding (MEIH), which will invest $410 million to develop e-commerce firms in the region.
