New York-based money manager BlackRock Inc. increased its stake in Telecom Italia to 10%, becoming its second-largest shareholder. This could potentially tip the balance at a shareholder meeting set to vote on the proposed ouster of Telecom Italia's board, according to a Reuters report.
Spain
US travel solutions provider Amadeus accelerates hotel IT business with $500M purchase of Newmarket International
Madrid, Spain-based global travel distribution system Amadeus bought hotel IT solutions provider Newmarket International Inc for $500 million in a bid to conquer the hospitality space.
Venezuelan bank Banesco has won the bid for a controlling stake in Spanish state-rescued lender NCG Banco through its €1 billion offer
Venezuelan bank Banesco has won the bid for a controlling stake in Spanish state-rescued lender NCG Banco through its €1 billion offer. Banesco bet out five other rivals in the auction.
Spain's Banco Sabadell plans to add 25 more branches to its existing 42 branches in Angola to target the growing millionaires
Banco Sabadell, a Spain-based bank, plans to add 25 more branches to its existing 42 branches in Angola to target the growing millionaires in the country.
Citigroup, Santander sell $1B of trade finance assets
The Financial Times reported two banks divested trade finance assets amounting to $1 billion in a securitization that would get these assets to institutional investors from bank balance sheets.
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US casino operator Las Vegas Sands said on Friday that it will drop its over $30 billion investment plans into Eurovegas, a mega-casino project to be established in Madrid.
Debt-ridden fishing firm Pescanova SA is weighing a buyout offer from a consortium led by US private equity firm KKR & Co. The KKR & Co consortium, which includes investment firm Ergon Capital Partners and existing shareholders Luxempart and Damm, offered to acquire Pescanova for an undisclosed sum.
Canada Pension Plan Investment Board, one the country's top pension funds, has purchased a 15% stake in Orpea. CPPIB paid €320.8 million for the minority stake in the French nursing home company.
HSBC Holdings PLC has put up for sale its 8% stake in Bank of Shanghai Co. HSBC sold its holding in the Chinese bank to Spain's Santandar SA for an undisclosed sum.
The rally of Corpbanca's high-grade bonds in the merging markets indicated investors' demand for the Chilean bank to find a buyer soon. Corpbanca is run by Chilean billionaire Alvaro Saieh.
Telecom Italia's activist investor Marco Fossati campaigned against the enforced sale of TIM Brasil. Brazil's competition regulatory body ruled earlier this week that Telecom Italia must divest its stake in the Brazilian mobile carrier.
The private equity owner of Applus+ has picked Morgan Stanley and UBS to oversee a stock market listing of the Spanish industrial testing firm, a person familiar with the matter said.
Repsol Chairman Antonio Brufau insisted on Tuesday that the government of Argentina should offer a compensation package that will convince the Spanish oil firm to settle the expropriation of its stake in energy firm YPF.
France's two largest petroleum and electric utility firms are vying to develop two 500-megawatt wind projects near Le Treport in France. The French government opened the bidding earlier this year to attract investments of about EUR3.5 billion.
