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☆ KKR can limit the pain of Elliott's telco blitz
▼ + stars: | 2023-02-13 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +4 min

Even so, KKR and Vodafone look insulated from the worst sort of Teutonic deal pain. Still, KKR – which has joined forces with Global Infrastructure Partners and will co-control Vantage with Vodafone – has some protections. Reuters GraphicsFollow @pamela_msg on TwitterloadingCONTEXT NEWSActivist investor Elliott Management disclosed a 5.6% stake in German phone masts company Vantage Towers on Jan. 31. The offer was recommended by Vantage Towers' management and supervisory board. Vantage Towers’ Chief Executive Vivek Badrinath is set to depart due to personal reasons.

☆ Robert Kraft says Jeff Bezos would be a 'great owner' of Washington Commanders as Dan Snyder reportedly awaits higher bids
▼ + stars: | 2023-02-11 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

New England Patriots owner Robert Kraft told Fox Business that Jeff Bezos would be a "great owner." Bezos repeatedly has been mentioned as a possible buyer of the Washington Commanders. However, Commanders owner Dan Snyder reportedly is waiting for bids to cross the $7 billion mark. Also complicating a potential Bezos bid are reports that Snyder is opposed to selling the team to the man who owns the Washington Post. People close to Bezos have denied New York Post reports claiming that he could potentially sell the Washington Post in order to buy the Commanders.

CTIL is attracting interest from pension funds including Britain's largest, the Universities Superannuation Scheme (USS), which has started preliminary work on a potential offer, two of the sources said. Telefonica, Liberty Global and USS declined to comment. A number of telecom towers deals in Europe have seen infrastructure investors compete for a slice of the continent’s largest towers networks partly because of their stable cash yield and long-term contracts. Vodafone (VOD.L) owns 50% of CTIL through its Frankfurt-based subsidiary Vantage Towers (VTWRn.DE), and is not planning to cut its holding, the people said. Telefonica and Liberty Global do not plan to ask Vantage Towers to bid for the holding for competitive reasons, according to the sources.

Shares in EnBW rose 5.5% after the news to end the day at their highest level in five weeks. The savings banks in Baden-Wuerttemberg, where EnBW is based, are part of the final bidding round, their president Peter Schneider said last week. KfW, EnBW and CIP declined to comment. EnBW Chief Financial Officer Thomas Kusterer in November said EnBW hoped to conclude the sales process in early 2023. ($1 = 0.9297 euros)Reporting by Christoph Steitz and Markus Wacket Editing by Miranda Murray and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

☆ Potential buyers are leveraging high-profile blowups like Frank and FTX to get better terms. Insiders detail how dealmaking is changing in 2023.
▼ + stars: | 2023-02-07 | by ( Paige Hagy | Bianca Chan | Carter Johnson | ) www.businessinsider.com time to read: +10 min

We don't want to look like JPMorgan,'" Jason Mikula, fintech analyst and writer behind Fintech Business Weekly, told Insider. How closely they adhere to it matters greatly in terms of if a deal is on the line," Mandelbaum told Insider. Investors pumped $132 billion globally into fintechs in 2021 and there were more than 900 fintech M&A exits, according to CB Insights. "It's now a buyer's market," Rob Brown, CEO of Lincoln International, a global investment-banking advisory firm, told Insider. One way companies might optimize the due-diligence process without cutting corners is by leaning on machines to help with the heavy lifting.

☆ A Mexico soccer icon entered politics. Prosecutors say narcos followed
▼ + stars: | 2023-02-03 | by ( Cuernavaca | ) www.reuters.com time to read: +27 min

Regional politicians, officials and military officers gathered in the Morelos state capital of Cuernavaca for breakfast in February 2022 to mark Mexico’s annual Army day. Mexican drug lords have a long tradition of buying off politicians in exchange for government protection of their illicit trade. Attempts to reach two of the alleged drug traffickers in the photo – Figueroa and Irving Solano Vera – were unsuccessful. Prosecutors in April asked the Morelos state congress to impeach Blanco so that he could be stripped of that shield. “He likes me very much because I’m not a politician,” Blanco told Reuters, in reference to the president.

REUTERS/Evelyn HocksteinMEXICO CITY, Jan 27 (Reuters) - Citigroup <C.N> Chief Executive Jane Fraser is planning to meet with Mexican President Andres Manuel Lopez Obrador, a government spokesperson told Reuters on Friday, amid the bank's attempt to finalize the sale of its local unit. A spokesperson for Lopez Obrador, Jesus Ramirez, said he did not have further details on the meeting, and said it was subject to final confirmation. The planned meeting comes as Citi aims to sell its Mexican unit, Banamex, as part of the company's planned withdrawal of its retail services in the country after 20 years, first announced last January. Two bidders, which sources told Reuters were Mexican conglomerate Grupo Mexico and Banca Mifel, are vying for Citi's local unit, Lopez Obrador said in December. Reporting by Kylie Madry and Isabel Woodford; Editing by Stephen Eisenhammer, Cassandra Garrison and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ The dealmaking boom meant fast timelines and loose due diligence. But high-profile implosions like FTX and Frank mean would-be sellers can expect more scrutiny, insiders say.
▼ + stars: | 2023-01-27 | by ( Paige Hagy | Bianca Chan | Carter Johnson | ) www.businessinsider.com time to read: +10 min

☆ Adani’s buy now, pay later fundraise could sting
▼ + stars: | 2023-01-26 | by ( Una Galani | ) www.reuters.com time to read: +4 min

HONG KONG, Jan 26 (Reuters Breakingviews) - Gautam Adani is on a mission to win public acceptance for his eponymous group. The first stage of a $2.4 billion stock sale by his flagship Adani Enterprises (ADEL.NS) entity has won over anchor investors, including the well-regarded Abu Dhabi Investment Authority. They are picking up roughly $734 million of stock in India’s largest follow-on issue of new shares by a private sector company. But those of other Adani group companies including Adani Transmission (ADAI.NS) and some U.S. dollar bonds at Adani Green Energy (ADNA.NS) and Adani Ports (APSE.NS) sold off sharply. For Adani investors, buy now, pay later could take on an awkward new meaning.

☆ Gulf investors bid for India's Adani Enterprises' $2.5 bln FPO - Bloomberg News
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

Mubadala Investment Co PJSC and BNP Paribas SA (BNPP.PA) have also bid for shares, the report said, adding that the anchor book was oversubscribed about two times. Adani Enterprises last week set the floor price for India's largest FPO at 3,112 rupees per share with a price cap of 3,276 rupees apiece. While bidding for anchor investors began on Wednesday, bidding for retail investors will commence from Friday, with the offer closing for both sets of investors on Jan. 31. Spokespersons for Adani Enterprises, LIC and SBI Life did not immediately respond to a Reuters request for comment. Adani has said it will use 108.69 billion rupees from the FPO to fund green hydrogen projects, airports facilities and greenfield expressways.

☆ India's first green bond issue pulls local bidders, foreigners aloof - traders
▼ + stars: | 2023-01-25 | by ( Dharamraj Lalit Dhutia | ) www.reuters.com time to read: +2 min

MUMBAI, Jan 25 (Reuters) - India's first sovereign green bond issue was mostly subscribed by local banks and insurance companies, with limited interest from foreign investors, market participants said. New Delhi raised 80 billion rupees ($981.31 million) via green bonds on Wednesday. The five-year 7.38% 2027 bond yield was at 7.15%, while the benchmark 7.26% 2032 bond yield was at 7.35% during the time of bidding. Local banks and mutual funds do not have a specific mandate to invest in green bonds and treat these at par with other sovereign bonds. Ahead of Wednesday's auction, the government had met foreign investors to gauge the demand, Reuters had reported.

☆ Bolivia taps Chinese battery giant CATL to help develop lithium riches
▼ + stars: | 2023-01-20 | by ( Daniel Ramos | ) www.reuters.com time to read: +2 min

LA PAZ, Jan 20 (Reuters) - Bolivia has chosen a consortium including Chinese battery giant CATL (300750.SZ) to help develop the South American country's huge, but largely untapped, reserves of lithium after a lengthy bidding process involving firms from the United States and Russia. The deal announced at an event in the political capital La Paz would see the CBC consortium partner on direct lithium extraction from the country's Potosi and Oruro salt flats. The companies who have remained in the race include U.S. firm Lilac Solutions, Russia's Uranium One Group and three other Chinese bidders. "Today begins the era of industrialization of Bolivian lithium," Arce said, adding that there was "no time to lose" in developing the metal. Energy minister Franklin Molina said the move showed there were "sovereign alternatives to the privatization models of lithium exploitation."

☆ Kim Kardashian buys Princess Diana’s amethyst and diamond cross for $197,453
▼ + stars: | 2023-01-19 | by ( Liz Calvario | ) www.nbcnews.com time to read: +3 min

Kim Kardashian is now the owner of one of Princess Diana’s precious jewels. The “Kardashians” star bought the Princess of Wales’ amethyst and diamond Attallah Cross for $197,453, Sotheby’s London announced on Jan. 18. The piece was worn by Diana on Oct. 27, 1987, when she attended a charity gala in London. Diana, Princess Of Wales, arrives at a charity gala wearing a gold and amethyst crucifix in 1987. Diana’s famous sapphire engagement ring, which now belongs to the new Princess of Wales, the former Kate Middleton, was also designed by Garrard.

Vice Media is restarting its sale process after earlier interested bidders balked at the initial price tag, according to people familiar with the situation. The digital media company, which was valued at $5.7 billion in 2017, is now likely to fetch a price of below $1 billion, the people said. Initially, Vice was looking for a valuation between $1 billion and $1.5 billion, one of the people added. A Vice Media spokesperson declined to comment. Meanwhile, Buzzfeed , the only digital media company to IPO, has seen its stock fall roughly 90% since going public in 2021.

☆ Netflix reality TV head on how doc series 'Break Point' can become a 'Drive to Survive' for pro tennis — and whether the streamer's sports doc success will lead it into live sports
▼ + stars: | 2023-01-18 | by ( Elaine Low | ) www.businessinsider.com time to read: +6 min

Formula 1 racing saw a boost in TV viewership and fandom since Netflix began streaming docuseries "Drive to Survive." Amid a boom in sports docs, the streamer is looking for another hit in tennis series "Break Point." Netflix unscripted TV head Brandon Riegg spoke to Insider about the streamer's ambitions in live sports. Netflix execs and tennis fans are hoping that "Break Point," the streamer's new docuseries centered on the 2022 Grand Slam season, can be the racket sport's "Drive to Survive." "I wouldn't be surprised," Netflix VP of unscripted and docuseries Brandon Riegg told Insider the day before "Break Point" premiered.

☆ Sun Cable project: Billionaires' feud over Australia-Singapore cable escalates
▼ + stars: | 2023-01-18 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +10 min

The proposed Sun Cable project would see a subsea cable stretch from Darwin to Singapore. A statement from Cannon-Brookes’ private investment arm, Grok Ventures, suggested all investors except Forrest’s investment arm Squadron Energy remain committed to the cable. Tim Buckley, director of Climate Energy Finance, says the export of green hydrogen (hydrogen generated from renewable energy) is at least a decade away. “The market for green hydrogen exports has sort of deflated quite dramatically when people realize there’ll be a decade or two before you can actually ship green hydrogen anywhere overseas,” he said. For example, Xlinks plans to run a cable almost as long and powerful from Morocco to the United Kingdom.

☆ Lufthansa offers Alitalia heir last chance to fly
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +2 min

MILAN, Jan 18 (Reuters Breakingviews) - Lufthansa’s (LHAG.DE) boss Carsten Spohr is trying to catch Alitalia’s successor before it crashes. But Italian media and sources familiar with the situation have said the Germans could inject 300 million euros for a 40% stake. That would value ITA at 750 million euros, much less than the lofty 1.2 billion euro valuation that shipping giant MSC, a former Lufthansa ally, was prepared to pay a year ago. Bidders for Alitalia and its successor have come and gone, contributing to the Italian state burning over 10 billion euros of taxpayers’ money in multiple bailouts. Lufthansa, which considers Italy an attractive tourist market, could revamp the smaller carrier by linking it to its network of global routes.

☆ Origin Energy gives suitor Brookfield more time to review books
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +1 min

Jan 17 (Reuters) - Australia's Origin Energy (ORG.AX) has extended the exclusivity period for a Brookfield-led consortium to finalise its A$15.5 billion ($10.81 billion) buyout bid, the power producer said on Tuesday. The exclusivity period has been extended to Jan. 24, upon the consortium's request, Origin said. Origin Energy did not specify a reason for the extension, which sparked concern about the fate of the bid. Its shares fell as much as 3.7% to a low of A$7.37, well below the proposed offer price of A$9 a share. Origin said in November it would back the proposed offer if it went ahead.

☆ Trinidad plans new offshore gas auction under revamped terms -sources
▼ + stars: | 2023-01-16 | by ( Curtis Williams | ) www.reuters.com time to read: +2 min

PORT OF SPAIN, Jan 16 (Reuters) - Trinidad and Tobago plans an auction this quarter of up to 20 offshore natural gas exploration blocks under new fiscal terms designed to increase the pool of potential bidders, people familiar with the matter said. The Caribbean nation has been working to stem a decline in its natural gas output and to spur exploration in its shallow waters, where almost all of its natural gas is produced. The new fiscal terms and a plan to provide seismic data aim to lure new bidders, the people said. Trinidad and Tobago has a natural gas deficit of 25% of its installed processing capacity, with daily production of just under 3 billion cubic feet per day (bcfd) leading to a shortfall in LNG and petrochemical production. Reporting by Curtis Williams in Port of Spain; editing by Gary McWilliams and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

The sale of the plant to a consortium, led by Cypriot private equity firm G.O.I. The sale process is in contrast to Germany's confiscation of Rosneft's Schwedt refinery and Gazprom Germania, or Russia's takeover of Sakhalin 1 from Exxon Mobil (XOM.N). Energy is run by Michael Bobrov, who is also CEO of Israeli firm Green Oil that holds a major stake in Israel's biggest refiner Bazan Group. The deal marks an expansion into the refining sector for Trafigura that concluded a similar deal with Prax in 2021 for a refinery in Britain. Trafigura also holds a 3% stake in Italian refiner Saras, an indirect stake in India's major Nayara refinery and runs two small refineries via its subsidiary Puma Energy.

☆ CVS Health in talks to buy Oak Street Health - Bloomberg News
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

Jan 9 (Reuters) - CVS Health Corp (CVS.N) is exploring an acquisition of primary care center operator Oak Street Health Inc (OSH.N), Bloomberg News reported on Monday citing people familiar with the matter. Shares of Oak Street Health rose 27% in after-hours trading after closing 4.25% higher at $22.57 on Monday, earning the Chicago-based company a market cap of $5.5 billion. CVS declined to comment while Oak Street did not immediately respond to a Reuters request. Oak Street Health runs primary care centers across United States for recipients of Medicare, the U.S. government insurance program for Americans aged 65 and older, and has private equity firms such as General Atlantic and Newlight Partners among its shareholders. CVS had also expressed interest in expanding into the primary care space, and was reportedly among the bidders to acquire primary care provider Cano Health before backing out.

☆ A pair of Michael Jordan's Nikes just sold for more than $92,000, setting a record that solidifies sneakers as an asset class
▼ + stars: | 2023-01-06 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

Rally last week sold a pair of Jordan 11 "Concords" that Michael Jordan wore in 1996 for more than $92,000. While the market for sneakers has weakened, there's still strong demand for the most coveted kicks. Petrozzo said the price is a record for "Concords," although other game-worn Jordan sneakers have gone for more, including a pair that sold for $560,000 in 2020. Rally also sold a pair of game-worn Jordan 3s for $61,500 in December, generating a nearly 180% profit for investors who purchased shares in January 2020. Rally's other listings include a game-worn pair of Jordan 1s that are down 48% since first listing in November 2020.

☆ StanChart suitors track banking’s flighty fortunes
▼ + stars: | 2023-01-06 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +4 min

But one reliable rule of thumb is that Standard Chartered (STAN.L) will be the subject of periodic bouts of takeover speculation. The latest prospective suitor, First Abu Dhabi Bank (FAB.AD), reflects the shifting fortunes of global banking. Under UK rules, First Abu Dhabi cannot make an offer for StanChart for six months, unless another bidder emerges. The Abu Dhabi lender said it had been in “the very early stages of evaluating a possible offer” for the emerging markets-focused bank. Standard Chartered declined to comment.

China has said it only counts deaths of COVID patients caused by pneumonia and respiratory failure as COVID-related. The holiday travel rush is expected to last for 40 days, from Jan. 7 to Feb. 15, the Ministry of Transport said this week. China's official death toll of 5,246 since the pandemic began compares with more than 1 million deaths in the United States. The United States, India, Italy, Japan and Taiwan said they would require COVID tests for travellers from China. Omicron was still the dominant strain in China, Chinese health officials said this week.

☆ Bugatti is auctioning off its last purely gas-powered car and it's one-of-a-kind
▼ + stars: | 2022-12-23 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

The Bugatti Chiron Profilée is painted in a special color called Argent Atlantique, a hue developed just for this car. Bugatti RimacThe Bugatti Chiron Profilée was being developed, starting in late 2020, as one of several versions of the Chiron, Bugatti’s primary model. Included in that 500 have been a few variants, such as the Chiron Sport, Chiron Pur Sport and Chiron Super Sport, each with varying degrees of top speed, acceleration and cornering aggressiveness. The Bugatti Chiron Profilée has an aerodynamic wing to increase pressure on the rear wheels at high speeds. Bugatti RimacThe French ultra-luxury car maker had previously indicated that the convertible W16 Mistral, revealed last August, would be its last gas powered car model.

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