Alibaba Group said it would pay about $2.4bn to complete the move, meaning a 46% premium for shareholders. Shares of the Hong Kong listed site had been suspended since 9 February. The parent firm has also been in intense negotiations to buy back a 43% stake owned by US internet giant Yahoo. “Taking Alibaba.com private [...]
Bankrupt American Airlines (AAMRQ.PK) aims to boost revenue by $1 billion annually by beefing up its international routes and fleet to lure more well-heeled business travelers, the company said on Tuesday. Lower costs achieved through bankruptcy will enable the airline’s corporate parent, AMR Corp, “to create the premier airline for high-value customers, who choose airlines [...]
Swedish telecoms gear maker Ericsson is to buy privately held WiFi technology company BelAir Networks to boost its mobile broadband offering. Demand for wireless connectivity has boomed in the last couple of years with the proliferation of mobile devices, such as smartphones and tablets. BelAir, which produces indoor and outdoor WiFi systems for telecoms operators [...]
HONG KONG – China Telecom, the smallest of the country’s three carriers, said on Tuesday it had signed an agreement with Apple Inc to sell iPhones in China, the world’s largest mobile phone market. China Telecom said in a statement it would take applications for the iPhone 4S online from March 2 and aimed to [...]
The Hyundai Elantra has been named car of the year at the Canadian International Auto Show in Toronto. The award, announced Thursday, was created by the Automobile Journalists Association of Canada (AJAC). The winner was chosen by the AJAC after four days of testing 170 new 2012 vehicles. The other two finalists for car of [...]
Kellogg Co said on Wednesday it will buy the Pringles business from Procter & Gamble Co for $2.7 billion in cash, as it aims to build its position in the global snacks market comparable to its strength in the cereal business. P&G agreed to sell Pringles to Diamond Foods Inc last year, but the deal [...]
Boeing Co will make first delivery of the passenger version of its upgraded and overdue 747-8 on February 28 to an unidentified VIP customer, the world’s second-largest planemaker said on Tuesday. The company said in an email that it will mark the delivery of the airplane dubbed the Intercontinental with an event near Seattle featuring [...]
Talks between Yahoo Inc and China’s Alibaba over the U.S. Internet giant’s Asian assets have hit an impasse, throwing their plans for a $17 billion tax-free asset swap into question, according to sources briefed on the situation. The snag in the negotiations came on the same day that activist investor Daniel Loeb, of hedge fund [...]
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