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☆ Mattel’s ‘Wicked’ movie dolls mistakenly list pornography site on packaging
▼ + stars: | 2024-11-11 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Variety-Live-Blog-Byline-Image.Png | ) www.nbcnews.com time to read: +2 min

Something wicked this way comes on the packaging of Mattel‘s “Wicked” dolls. There’s a website listed on the toy box, but instead of linking to the webpage for the movie adaptation of the Tony-winning musical, starring Cynthia Erivo and Ariana Grande, Mattel has mistakenly listed the URL to a pornographic website. “Hey @Mattel whoever is responsible for your marketing/packaging for the new official Wicked dolls have made a HUGE mistake,” one person wrote on X. “What a dream come true to be realized as Elphaba and Glinda in the form of Sweet Little dolls,” Erivo captioned the post. “Little Cynthia and little Ari are pleased.”Universal Pictures is owned by NBC Universal, the parent company of NBC News.

Persons: Tony, Cynthia Erivo, Ariana Grande, Mattel, “ Mattel, Elphaba, Glinda, “, Grande, “ Little Cynthia, Ari Organizations: Mattel, Universal Pictures, Variety, Consumers, Service, Target, Universal, ” Universal Pictures, NBC Universal, NBC News Locations: U.S, Angeles

☆ Cynthia Erivo and Ariana Grande are still method dressing
▼ + stars: | 2024-11-11 | by ( Leah Dolan | ) edition.cnn.com time to read: +3 min

CNN —While some might be growing weary of celebrity method dressing — the styling phenomenon that sees actors match their red carpet garb to their latest movie role — character-based fashion shows no sign of stopping. In the run up to the release of Luca Guadagnino’s erotic tennis drama “Challengers” this spring, star Zendaya wore almost exclusively white and lime green looks — often adorned with literal tennis balls. Now, it’s Cynthia Erivo and Ariana Grande’s turn. TheStewartofNY/WireImage/Getty ImagesOne of the pair's earliest examples of method dressing took place at the Paris Olympic Games in July. Gilbert Flores/Variety/Getty ImagesPerhaps, if we’ve reached the peak of method dressing, the trend might evolve to become more subtle, playful and less restrictive.

Persons: Margot Robbie, Andrew Mukamal, Greta Gerwig’s, Barbie, Luca Guadagnino’s, Zendaya, Lady Gaga, Harley Quinn, Celine, it’s Cynthia Erivo, Ariana Grande’s, ”, Matthew Stockman, Erivo, Louis Vuitton, Grande, Glinda, Elphaba, Thom Browne, they’ve, Jonathan, Gilbert Flores, we’ve, Jonathan Bailey, Prince Fiyero Organizations: CNN, Museum of Modern Art, Paris Olympic Games, Los, Academy, Los Angeles, Variety Locations: London, Erivo, New York, Los Angeles

☆ Director Jon M. Chu joins ‘Wicked’ premiere from hospital as wife gives birth to daughter
▼ + stars: | 2024-11-10 | by ( Francesca Gariano | ) www.nbcnews.com time to read: +4 min

Director Jon M. Chu and his wife, Kristin Hodge, expanded their family by one more, welcoming the birth of their daughter on Nov. 9. Chu shared several more posts on his Instagram stories, including a snap of his suit for the premiere still in its garment bag. Chu also gave fans a first glimpse of his newborn daughter, sharing a sweet video of his wife holding their baby on her chest in the hospital. “Happy Premiere Day!! You have a lot of witches on your side.”In addition to their newborn daughter, Chu and Hodge are parents to four other children: Willow, 7, Jonathan Heights, 5, Ruby, 3 and Iggy, 1.

Persons: Jon M, Chu, Kristin Hodge, ”, ” Chu, “, Ariana Grande’s, Frankie Grande, Hodge, ” Jon M, Jonathan Heights, Iggy, “ I’ve, I’m, —, glimmering, Ariana Grande, Cynthia Erivo, Grande, Erivo, Kristin Chenoweth, Idina Menzel, Jonathan Bailey, Fiyero, Michelle Yeoh, Madame Morrible Organizations: Angeles, Universal Pictures, NBCUniversal, fam, Broadway Locations: Grande

Cynthia Erivo called out a fan-edited "Wicked" poster circulating online, describing it as "offensive" and "deeply hurtful." An official poster for the movie, which hits theaters in November, was released by distributor Universal Pictures earlier this month. "And that is just deeply hurtful.”Cynthia Erivo and Ariana Grande in "Wicked." She described the edited version of the poster as "the wildest, most offensive thing I have seen," and compared it to two offensive AI-created memes related to the film that have also been widely shared online. Michelle Yeoh, Jonathan Bailey, Jeff Goldblum and Bowen Yang star alongside Erivo and Grande.

Persons: Cynthia Erivo, Ariana Grande’s, Elphaba, Erivo's, Erivo, ” Cynthia Erivo, Ariana Grande, “, ”, Jon M, Chu, Michelle Yeoh, Jonathan Bailey, Jeff Goldblum, Bowen Yang Organizations: Universal Pictures, NBC, Universal, Comcast, Erivo Locations: Grande

☆ Watch Ariana Grande’s pop star impressions on ‘SNL’
▼ + stars: | 2024-10-13 | by ( Mason Winterhalter | ) edition.cnn.com time to read: 1 min

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☆ Ariana Grande parodies Celine Dion’s viral Sunday Night Football promo in ‘SNL’ sketch
▼ + stars: | 2024-10-13 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +1 min

CNN —Ariana Grande performed one of her greatest hits on the latest episode of “Saturday Night Live” – her famed Celine Dion impression. The “Wicked” actress and singer served as the episode’s host and appeared in a pre-taped sketch that poked fun at Dion’s viral Sunday Night Football promo for last week’s Steelers-Cowboys matchup. This was Grande’s second time hosting “SNL.” Stevie Nicks served as the musical guest. Grande previously appeared on the long-running sketch show as the musical guest in 2014 and 2024, and did double duty as both the host and musical guest in March 2016. “Saturday Night Live” airs on NBC on Saturday at 11:30 p.m. ET/8:30 p.m. PT.

Persons: CNN — Ariana Grande, Celine Dion, Dion, it’s, Grande, ” Dion, Jimmy Fallon ”, ” Stevie Nicks, Michael Keaton, Billie Eilish Organizations: CNN, week’s Steelers, Cowboys, UFC, Dallas Cowboys, Pittsburgh Steelers, NBC

☆ Ariana Grande tells dejected ‘SNL’ cast that she doesn’t want to do ‘Wicked’ skits in hilarious promo
▼ + stars: | 2024-10-09 | by ( Dan Heching | ) edition.cnn.com time to read: +1 min

CNN —Ariana Grande would like to get a few things straight before she returns to host “Saturday Night Live” this weekend. She previously appeared on “SNL” as the musical guest in 2014 and 2024. She did double duty as both the host and musical guest in March 2016. This week, she will be joined by musical guest Stevie Nicks. “Saturday Night Live” airs on NBC on Saturday at 11:30 p.m. ET/8:30 p.m. PT.

Persons: CNN — Ariana Grande, “, Oz, Devon Walker, Michael Longfellow, Marcello Hernández, Andrew Dismukes, Lion, Dorothy, Oz ”, it’s, Stevie Nicks Organizations: CNN, SNL, NBC Locations: Grande

☆ China fines PwC a record $62 million for its role in the Evergrande collapse
▼ + stars: | 2024-09-13 | by ( ) edition.cnn.com time to read: +3 min

Chinese regulators have hit PwC’s auditing unit in mainland China with a six-month business suspension and a record fine of 441 million yuan ($62 million) over the firm’s audit of troubled property developer China Evergrande Group. “PwC has seriously eroded the basis of law and good faith, and damaged investors’ interest,” said the China Securities Regulatory Commission in a statement. PwC Zhong Tian, the registered accounting entity and the main onshore arm of PwC in China, was the country’s top-earning auditor in 2022, according to the latest official data. The ministry also imposed a fine of 116 million yuan ($16 million) on PwC Zhong Tian for its auditing failure of Hengda in 2018, according to an MOF statement. The CSRC said in a separate statement that it had confiscated PwC Zhong Tian’s revenue involved in the Evergrande case totalling 27.7 million yuan and fined the unit 297 million yuan.

Persons: Zhong Tian, “ PwC, ”, PwC Zhong, Daniel Li, Hemione Hudson, CSRC, PwC Organizations: China Evergrande Group, Big, —, China Securities Regulatory Commission, China’s Ministry of Finance, Bank of China Locations: China, PwC, Hong Kong, New York

A third teenager has been arrested in connection with a foiled attack on now-canceled Taylor Swift concerts in Vienna. The foiled attack was planned for Thursday or Friday, according to Austria’s interior minister, Gerhard Karner. Taylor Swift fans gather in Vienna. Authorities display a photo of a man arrested in connection with a plot to attack Taylor Swift's Eras Tour in Vienna, Austria. The U.S. State Department and the broader U.S. government have been in contact with Austrian officials about the alleged plot, State Department spokesperson Matthew Miller said.

Persons: Taylor Swift, Gerhard Karner, Karner, Ernst Happel, Thomas Kronsteiner, Karl Nehammer, “, ” Nehammer, it’s, ” Swift, Sadiq Khan, We’re, ” Khan, Swift, ’, Southport , England Peter Powell, ”, Omar Haijawi, Franz Ruf, Taylor, Roland Schlager, Pirchner, Matthew Miller, “ Taylor, Pedro Gomes, TAS24, Elle, Magnus Ranstorp Organizations: Austrian, Authorities, Islamic State, Investigators, Ernst, London’s Wembley, London, Manchester Arena, Getty, Islamic, of State Security, Intelligence, Ministry of, Interior, CIA, U.S . State Department, State, ” Barracuda, Barracuda Music, Estadio da Luz, Las, Strip, Swedish Defense University, Associated Press Locations: Vienna, al Qaeda, Europe, Gelsenkirchen, Austria, Ariana Grande, Manchester, England, Southport , England, AFP, Ternitz, Austrian, Lisbon, Portugal, United Kingdom, Stockholm

☆ Ariana Grande explains her drastic voice changes in viral interview clip
▼ + stars: | 2024-06-19 | by ( Marianne Garvey | ) edition.cnn.com time to read: +1 min

CNN —Ariana Grande has a vocal range to impress. The singer was on a recent episode of “Podcrushed,” where the pitch of her voice changed during the conversation. When she starts speaking, Grande’s voice sounds deeper before it suddenly sounds higher in pitch. The clip quickly went viral, with one X (formerly Twitter) user writing, “this voice change is sending me regular Ariana was coming out for a second.”Another wrote, “THE SWITCH IN THE VOICE PLEASE HELP ME.”Grande saw comments on TikTok, where she set the record straight. “habit (speaking like this for two years) and also vocal health :),” she explained.

Persons: CNN — Ariana Grande, “, Ariana, ”, ” Grande, Brandy, Monica Organizations: CNN, ” Locations: ”

☆ A water war is looming between Mexico and the US. Neither side will win
▼ + stars: | 2024-06-17 | by ( Laura Paddison | ) edition.cnn.com time to read: +12 min

Under an 80-year-old treaty, the United States and Mexico share waters from the Colorado River and the Rio Grande, respectively. They say the lack of water from Mexico is propelling them into crisis, leaving the future of farming in the balance. Pain in both countriesThe water from Mexico goes to the Falcon and Amistad Reservoirs which straddle the border and provide water to homes as well and farms. To rely only on storms to reduce water scarcity would make Mexico “totally exposed to what nature decides about our water future,” UNAM’s Magnaña Rueda said. Ultimately, there needs to be a recognition that water sharing agreements must adapt to a changing climate, Rueda said.

Persons: Biden, Maria Elena Giner, “, ”, Alfonso Cortez Lara, Giner, “ There’ll, Paul Ratje, Vianey Rueda, Rueda, , ” Rueda, Pain, Amistad, Falcon, Brian Jones, Carlos Kosienski, Jones, Monica De La, ” De, ” De La Cruz, Ted Cruz, John Cornyn —, —, Victor Magaña Rueda, Salvador Alcántar, ” Alcántar, Jose Luis Gonzalez, Sarah Porter, Claudia Sheinbaum, “ We’ve, ” UNAM’s Magnaña Rueda, ” Giner, we’re, Nobody’s, ” CNN’s Brandon Miller, Jack Guy Organizations: CNN, Texas, Water Commission, College of, Rio, Reuters, University of Michigan, American Free Trade, Falcon, “ Farmers, Texas Farm Bureau, Growers, Republican, National Autonomous University of Mexico, Farmers, National Guard, Mexican National Guard, Kyl, for Water Policy, Arizona State University, “ Locations: United States, Mexico, Colorado, Rio, South Texas, Rio Grande, Rocky, Gulf of Mexico, Fort Quitmen, Presidio , Texas, ”, Mexican, Chihuahua, Las Cruces , New Mexico, Reuters Mexico, Amistad, Rio Grande Valley, Texas, Hidalgo County , Texas, Rio Grande Valley . Texas, Starr County , Texas, Monica De La Cruz, ” De La, La, Camargo , Chihuahua

☆ Ariana Grande says filming ‘Wicked’ movie was ‘transformative’
▼ + stars: | 2024-05-06 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +1 min

CNN —It sounds like Ariana Grande’s experience filming the upcoming “Wicked” movie was rather wonderful. “It was just the most extraordinary, transformative and beautiful experience I’ve ever had in my life,” Grande said on Vogue’s Met Gala red carpet on Monday. They join an impressive legacy of actors who’ve portrayed the roles including Idina Menzel, Michelle Williams and Kristin Chenoweth. Grande wore a light pink gown by designer Jonathan Anderson to the star-studded event. “Wicked: Part 2” will follow in late 2025.

Persons: Ariana Grande’s, ” Grande, “, I’ve, Glinda, Cynthia Erivo’s Elphaba, who’ve, Idina Menzel, Michelle Williams, Kristin Chenoweth, Erivo “, ”, Jonathan Anderson, Grande, Oz, Elphaba, Jeff Goldblum, Oscar, Michelle Yeoh, Jonathan Bailey, Bowen Yang Organizations: CNN, Broadway Locations: ”, Oz

☆ Evergrande: China accuses troubled property developer of committing financial fraud in $78 billon case
▼ + stars: | 2024-03-19 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Chinese regulators have accused Evergrande and its founder of inflating revenues by $78 billion, putting the insolvent property developer at the heart of the country’s biggest ever financial fraud case. Xu Jiayin, founder and chairman of the Evergrande Group, was fined 47 million yuan ($6.5 million) for the overstatement and other alleged violations. The regulator said Hengda had fabricated 214 billion yuan ($30 billion) in sales for 2019, which accounted for half of that year’s revenue. Another 350 billion yuan ($48.6 billion) in sales for 2020, accounting for 78% of revenue, were also falsified. “Xu Jiayin had made decisions, organized, and implemented the financial fraud … Xia Haijun had organized, arranged and prepared the falsified financial reports… their means were really bad and the circumstances were grave,” the regulator said.

Persons: Evergrande, Xu Jiayin, ”, Hengda, Xu, Xia Haijun, “ Xu Jiayin Organizations: Hong Kong CNN, China Securities Regulatory Commission, Shenzhen Stock Exchange, Evergrande Locations: China, Hong Kong

☆ China Evergrande Founder Accused of Exaggerating Revenue by $78 Billion
▼ + stars: | 2024-03-19 | by ( Alexandra Stevenson | More About Alexandra Stevenson | ) www.nytimes.com time to read: +1 min

China Evergrande Group exaggerated its revenue by more than $78 billion and committed securities fraud over two years before its spectacular collapse in 2021, a top Chinese regulator said. The China Securities Regulatory Commission accused Hui Ka Yan, the founder of Evergrande, of “making decisions and organizing fraud,” the company reported in a filing to the Shanghai and Shenzhen stock exchanges on Monday night. Xia Haijun, a former chief executive, was fined $2 million and also banned from financial markets, along with several other executives. The New York Times reported in December that questionable accounting and poor oversight led to Evergrande’s demise. Over the years before it defaulted on its debt, Evergrande had been treating money it received for apartments as revenue even though at times it had not built those apartments, the Times reported.

Persons: Hui Ka Yan, Hui, Xia Haijun, Evergrande Organizations: China, Group, China Securities Regulatory Commission, New York Times, Times Locations: Shanghai, Shenzhen

☆ Ariana Grande’s ‘Eternal Sunshine’ Is the Biggest Album of 2024 Yet
▼ + stars: | 2024-03-18 | by ( Ben Sisario | More About Ben Sisario | ) www.nytimes.com time to read: +1 min

Ariana Grande’s long-awaited new album, “Eternal Sunshine,” opens at the top of the latest Billboard chart with the biggest debut of the year so far, kicking off a season of expected blockbusters from Beyoncé, Taylor Swift and Dua Lipa. “Eternal Sunshine,” Grande’s seventh studio album and her first in almost four years, starts at No. “Eternal Sunshine” is Grande’s sixth No. All of her studio LPs have gone to the top except “Dangerous Woman” in 2016, which was held at No. Production on the film was delayed first by the coronavirus and then by last year’s SAG-AFTRA strike; the first “Wicked” film is now set to be released in November.

Persons: Ariana Grande’s, ”, Taylor Swift, Grande, Cynthia Erivo, Glinda Organizations: SAG Locations: Dua Lipa, United States

Singer-songwriter Victoria Monét won best new artist at the 66th annual Grammy Awards. Monét, 34, won the category against Gracie Abrams, Fred Again.., Noah Kahan, Ice Spice, Jelly Roll, Coco Jones and The War and Treaty. And I feel like today, I’m sprouting.”Photos You Should See View All 45 ImagesThe best new artist award, which went to jazz artist Samara Joy last year, is one of the Grammys’ most-anticipated as it is often seen as a bellwether for future success. The award goes to an artist who releases, during that year’s eligibility period, the first recording that establishes their “public identity,” according to the Grammys. With seven nominations, Monét tied for the second-most this year, alongside Phoebe Bridgers and behind SZA.

Persons: Singer, Victoria Monét, Gracie Abrams, Fred Again, Noah Kahan, Roll, Coco Jones, —, Monét, ” “, ”, Samara Joy, Olivia Rodrigo, Megan Thee, Billie Eilish, Mariah Carey, Alicia Keys, John Legend, Amy Winehouse, Adele, Chance, Ariana Grande, Chloe x Halle, Phoebe Bridgers, Hazel, “, Ariana Grande’s, Mark Kennedy Organizations: Associated Press, The Associated Press, Hollywood, AP, Black Music, Coalition, Kanye Locations: Champagne, Dua Lipa

☆ Evergrande liquidation: Here’s what may happen next
▼ + stars: | 2024-01-31 | by ( Laura He | ) edition.cnn.com time to read: +9 min

But there is still little clarity over how the liquidation of Evergrande will unfold. That’s because the legal systems of Hong Kong and China remain distinct, despite Beijing’s growing control over the former British colony in recent years. No Chinese company as huge as Evergrande — which was once China’s second largest developer— has been wound up by a Hong Kong court. Hui Ka Yan, chairman of property developer China Evergrande. Since then, Evergrande has been building and selling apartments in mainland China, even though it has been unable to repay its debts.

Persons: Alvarez, Marsal, —, ”, John Bringardner, Hong, Hui Ka Yan, Xu Jiayin, Hui, Xiao En, Bobby Yip, Xiao, Evergrande, Florence Lo, homebuyers, Will, Andy Wong, Diana Choyleva, Xiao Yuanqi, ” Bringardner, ” Choyleva, Choyleva, “ Evergrande Organizations: Hong Kong CNN, Shimao, Kaisa Holdings, Group, “, Real, Century Business Herald, China Index Academy, Enodo, Communist Party, China’s, Financial Regulatory Administration, Getty, People’s Bank of China, Finance Ministry, Evergrande, Marsal Locations: Hong Kong, United States, China, British, New York, China . Hong Kong, Shenzhen —, Asia, Florence, Beijing, Real, Hainan

The order by the Hong Kong High Court also is not a remedy for the crisis of confidence haunting China’s financial markets. Markets in both Hong Kong and Shanghai fell Tuesday while share prices of property developers sank. State-owned Chinese banks and other domestic entities own most of the debt owed by Chinese property developers. David Goodman, director of the University of Sydney’s China Studies Center, said he thinks China’s property debt burdens are unlikely to precipitate a major financial crisis. “The fact of the matter is that the Chinese financial system is not as open or as marketized (as in the United States),” he said.

Persons: Brock Silvers, haven't, Silver, ”, Seng, David Goodman, —, Soo Organizations: Evergrande, Hong Kong High, Kaiyuan, ”, Sunac China Holdings, F Properties, Shanghai, Swiss Re Institute, Swiss, University of Sydney’s China Studies Center Locations: BANGKOK, Hong Kong, China, Beijing, Shanghai, Guangzhou, United States, U.S, Singapore

☆ China Evergrande Must Be Liquidated, a Judge Said. What Happens Next?
▼ + stars: | 2024-01-29 | by ( Alexandra Stevenson | ) www.nytimes.com time to read: +1 min

After nearly two years of false starts, last-ditch proposals and pleas for more time, China Evergrande, a massive property company, has been ordered to dismantle itself. The worries in real estate, where most households put their savings, helped tip the economy into a downturn. The Evergrande bankruptcy will play out in Hong Kong and China. A Hong Kong judge, Linda Chan, on Monday ordered Evergrande’s liquidation and appointed Alvarez & Marsal, a firm that specializes in bankruptcy cases, to manage the unwinding. The firm’s role will be to help creditors — particularly overseas investors who made loans to Evergrande — get some of their money back.

Persons: Lehman, Linda Chan, Alvarez, —, Marsal Organizations: Lehman Brothers, U.S ., Hong, Marsal, Court, Alvarez Locations: China, U.S, Hong Kong, Beijing

What next for Evergrande’s creditors? A Hong Kong court on Monday ordered the liquidation of Evergrande, the heavily indebted Chinese property giant. The company’s dissolution raises questions about fairness for overseas creditors — which could have wider implications for foreign businesses operating in China. But as the economy slowed, property sales plummeted, and Chinese regulators began clamping down on excessive leverage and speculation. The judge presiding over Evergrande’s bankruptcy case has now called time after two years of talks.

Persons: Evergrande Organizations: Hong, Monday Locations: Hong Kong, Evergrande, China

HONG KONG (AP) — A Hong Kong court on Monday ordered property developer China Evergrande Group to liquidate after it was unable to reach a restructuring deal with creditors. The liquidation order is likely to impact China’s financial system, even as authorities try to prevent a selloff in the Chinese stock market. The company first defaulted on its financial obligations in 2021, just over a year after Beijing clamped down on lending to property developers in an effort to cool a property bubble. Real estate drove China’s economic boom, but developers borrowed heavily as they turned cities into forests of apartment and office towers. Others developers including Country Garden, China’s largest real estate developer, have also run into trouble, their predicaments rippling through financial systems in and outside China.

Persons: Linda Chan, Evergrande, Fergus Saurin, ”, Saurin Organizations: China Evergrande Group, Country, Zhongzhi Enterprise Locations: HONG KONG, Hong Kong, Beijing, China

☆ China Evergrande’s Crash Was Accelerated by Questionable Accounting
▼ + stars: | 2023-12-05 | by ( Alexandra Stevenson | ) www.nytimes.com time to read: +1 min

Its longtime auditor had just resigned, and a nation of home buyers had directed its ire at Evergrande. Police on watch for protesters stood guard outside the building, and the new team of auditors were issued permits to get in. After six months of work, the auditors reported that Evergrande had lost $81 billion over the prior two years, vastly more than expected. China’s housing boom was the biggest the world has seen, and Evergrande’s rise was powered by rapacious expansion, the system that stoked it and foreign investors who threw money at it. When China’s housing bubble burst, no other company imploded in as spectacular a fashion.

Persons: Evergrande, — Organizations: China Evergrande Group, Evergrande . Police, Evergrande Locations: Guangzhou, China, Evergrande .

☆ AI Davids ride coattails of industry Goliaths
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

New York, Dec 5 (Reuters Breakingviews) - Artificial intelligence Goliaths like OpenAI continue to open the door for what might become the industry’s Davids. With a low-cost approach and data privacy focus, it may be able to eventually carve out a solid European business. Mistral has whiffs of what OpenAI, eyeing a mooted $86 billion valuation and eight years old, once was, but with tweaks. Mistral has also focused on “open sourcing” its models, which means they can be downloaded and used for free. As a Paris-based company, Mistral could build out its business with a specific focus on complying with AI rules being finalized by the European Union.

Persons: industry’s Davids, eyeing, Anita Ramaswamy, Neiman Marcus, Lauren Silva Laughlin, Aditya Sriwatsav Organizations: Reuters, Mistral, Bloomberg, European Union, X, Saks, Thomson Locations: York, Paris, Kuwait, Hong Kong

☆ Kuwait rings up small bill in tower merger
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

A three-way partnership deal will enable Qatar’s Ooredoo (ORDS.QA) to offload capital-intensive infrastructure but only by offering Kuwait’s Zain (ZAIN.KW) favourable deal terms. Ooredoo and Zain are creating a regional powerhouse with an estimated enterprise value of $2.2 billion to be managed by Zain-backed TASC Towers Holding. The $8.9 billion Ooredoo and $6.9 billion Zain will own 49.3% each, with the rest going to TASC. But Zain is paying an average price of $73,000 per tower, 9.5% less than the average price per tower in previous deals, according to JPMorgan analysts. The Kuwaiti group will also call the shots as the founders of Dubai’s TASC Towers Holding – which Zain controls with an 83.47% stake – will manage the new entity.

Persons: Qatar’s, Kuwait’s Zain, Zain, Ooredoo, Dubai’s, Pamela Barbaglia, Neiman Marcus, Francesco Guerrera, Oliver Taslic Organizations: Reuters, TASC, Bloomberg, JPMorgan, X, Saks, Thomson Locations: Algeria, Tunisia, Iraq, Jordan, Saudi, Kuwaiti, Hong Kong

☆ Brookfield’s energy M&A loss is teachable moment
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Dec 4 (Reuters Breakingviews) - Brookfield Asset Management (BAM.TO), has some wounds to lick. On Monday the Canadian investment firm’s joint $13 billion offer with MidOcean Energy for Australian power generator and retailer Origin Energy (ORG.AX)failed after the bidders secured backing from 69% of voted shares, below the required 75% threshold. It could target smaller local energy firms, like Alinta Energy and EnergyAustralia, owned by Hong Kong-based Chow Tai Fook Enterprises and CLP (0002.HK) respectively. Brookfield has made other investments from its $15 billion global transition fund, including to co-buy Westinghouse Electric. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Bruce Flatt, Chow, Brookfield, Antony Currie, Neiman Marcus, Una Galani, Thomas Shum Organizations: MELBOURNE, Reuters, Brookfield Asset Management, MidOcean Energy, Origin Energy, Alinta, Chow Tai Fook Enterprises, CLP, HK, Westinghouse, X, Saks, Thomson Locations: Brookfield, Hong Kong

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