Prior to meeting with UK's Members of the Parliament regarding claims that Royal Mail's shares in its initial public offering were undervalued, UBS issued a note to investors saying that they need to divest their shares in the postal service.
Finance/Venture
Silver Lake hires banks for Mercury Payment IPO-sources
Private equity firm Silver Lake has hired JPMorgan Chase & Co, Barclays Plc and Morgan Stanley to lead a potential initial public offering of Mercury Payment Systems LLC, according to people familiar with the matter.
Banco de Bogota to issue stock to fund acquisitions
Colombia's second-largest bank, Banco de Bogota, will issue up to 1.3 billion pesos ($677 million) in stock on Wednesday to raise cash to pay for BBVA Panama, which it announced it was buying in July, it said on Wednesday.
US Bancorp subsidiary purchases Quintillon to expand its alternative investment business in Europe
The consolidation of US Bancorp Fund Services and Quintillion Limited would allow the former to expand its operations in Europe via its new strategic headquarters in Dublin.
New Asia macro fund to be set up by former HSBC economist in March
Counterpoint Asian Macro Fund is a new macro fund established through a venture between former HSBC Holdings Plc economist Geoff Barker and City Financial Investment Co.
Latest News
An article on Bloomberg provided its observations on how the stock rally had influenced the increasing number of initial public offerings on the Japan bourse starting this year.
John Grayken's private equity company Lone Star Funds had bought 23 buildings from State Farm Mutual Automobile Insurance Co. Lone Star would be leasing the properties back to the insurer.
Bill Stiritz, the Chief Executive Officer of Post Holdings Inc, raised his Herbalife stake to 6.4% from 5.3% and said he intends to hold discussions with Herbalife about possible strategies for financing.
Canaccord Genuity Group Inc said it will not be making more large purchases. Instead, the Canada-based non-bank brokerage will grow its UK wealth management unit through small deals.
After its July buyback of shares held by Third Point, Yahoo! Inc has increased its share buyback authorization by USD 5 billion. The company also aims to offer convertible notes worth USD 1 billion.
Nedbank Group, headed by Chief Executive Officer Mike Brown, said it plans to use its option to acquire a stake in Togo-based Ecobank Transnational Inc valued at more than USD 500 million.
Canada-based finance company FinanceIt raised USD13 million in a Series A funding round to be used for the expansion of its services to the United States.
According to China's Ministry of Commerce, investments from the European Union increased the most in the world's second largest economy in the first 10 months of the year.
JPMorgan Chase & Co finalized a USD13-billion settlement with the US Justice Department to end a long legal fight over the bank's risky mortgage practices that helped pull down the country's economy.
