German enterprise software group SAP announced on Friday that it was debating internally whether to accelerate moving more of its business to the cloud, a quick change in its overall strategy that could have a small impact on its target to grow sales to more than EUR20 billion.
Europe
Investors are Finland's gain via junk bond market opening
The government of Finland would be opening a junk bond market to attract investors who are interested to gain higher yields in the best-rated nation in the Euro Zone.
Uber seen leaving Berlin market with parting of management team
The three-person management team of private limousine service Uber had severed ties with the company six months after the car service company launched its services in the capital of Germany.
IK Investment divest its Europe Snacks unit to Apax Partners
IK Investment Partners had sold its full ownership in Europe Snacks Group to a French private equity firm Apax Partners for an undisclosed amount and will be completed before the year ends.
Founder Securities to exit from Credit Suisse joint venture - filing
The fate of the joint venture firm of Founder Securities and Credit Suisse have yet to be known after the former reveals its plans to sell its stake in the joint venture and merge with China Minzu Securities.
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In a report, the Business Standard said private equity firms are a significant contribution to the consolidation of IT services and BPO sector in India. There were five private equity transactions closed this year that totaled USD1.13 billion in value.
Novartis told investors that it will be holding a USD 5 billion share buyback in the next two years. The share repurchase will start immediately, according to the Switzerland-based drugmaker.
France's Credit Agricole said it will cut its holding in investment firm Eurazeo. The French bank will sell 3.2 million Eurazeo shares and zero-coupon convertibles equivalent to a maximun of 5.1 million shares.
Strategic investors were said to be in discussions to buy a majority stake in Vasan Healthcare, which operates eye care hospitals and dental centers in India.
Charter Communications was reportedly nearing an agreement with investment banks to borrow money for its bid for Time Warner Cable Inc. Charter has held talks with Bank of America Corp., Barclays Plc and Deutsche Bank AG.
Hong Kong-based tech startup Multichannel raised USD3 million in a seed round from angel investors in Asia and Europe to be used for the improvement of the company's marketing spend tracker.
The following bids, mergers, acquisitions and disposals were reported on Thursday including Omnicom, General Motors, Deutsche Telekom, Devon Energy and others
Deutsche Telekom announced on Thursday that it would be selling its 70 percent stake of Scout24 to the SF-based Hellman & Friendman group while still retaining a 30 percent stake. The deal is worth 2 billion EU.
The scheduled $35.1 bilion tie-up of both advertising giants Omnicom and Publicis, would be pushed to mid-2014 as the latest date, as announced by both Chief Executives on Thursday.
