Aug 28, 2014 19:16 UTC

Vivendi boosts shareholder credentials in GVT sale

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By Fiona Maharg-Bravo and Neil Unmack

The authors are Reuters Breakingviews columnists. The opinions expressed are their own. 

Vincent Bolloré, Vivendi’s chairman, is doing right by his shareholders. The French media group says it has entered exclusive talks with Telefonica on the Spanish group’s 7.5 billion euro bid for its Brazilian business GVT. The French conglomerate spurned a lower bid from Telecom Italia. It might have squeezed a bit more from Telefonica, but has chosen the surest exit. That leaves rival bidder TI facing an uncertain future.

Aug 28, 2014 13:13 UTC

Telefonica may have to inch higher for GVT

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By Fiona Maharg-Bravo

The author is a Reuters Breakingviews columnist. The opinions expressed are her own. 

Telefonica is showing how much it wants to buy GVT. The Spanish telecoms group has given Vivendi a 24-hour deadline to accept a new 7.45 billion euro ($9.8 billion) offer for the French conglomerate’s Brazilian subsidiary. A competing bid from Telecom Italia is 450 million euros lower, has less cash and is more conditional. Still, Vivendi could yet wring more out of this auction.

Aug 26, 2014 20:19 UTC

Buffett and tax outrage both diversions in BK deal

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By Robert Cyran

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Warren Buffett’s name is giving Burger King’s deal to buy Tim Hortons, now worth some $11 billion, a public relations boost. But some commentators on Twitter are calling the Berkshire Hathaway boss a hypocrite and branding him unpatriotic for supporting a company moving from the United States tax jurisdiction to Canada. Both sentiments are diversions.

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Aug 26, 2014 19:09 UTC

Burger King tax flip merger logic doesn’t stack up

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By Kevin Allison

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

It will take more than a crossing of the Canadian border to justify investor ebullience for a potential Burger King-Tim Hortons combination.

Aug 26, 2014 18:15 UTC

Why can Burger King, but not Wendy’s, own Hortons?

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By Rob Cox

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Why can Burger King, but not Wendy’s, own Tim Hortons? Burger King used to argue that it was exceptional for the flame-broiling of its burgers. With its $11 billion purchase of the Canadian doughnut-chain, its shareholders seem to believe it is special in some other ways.

Aug 25, 2014 19:26 UTC

Roche’s $8 bln bet outsmarts ice-bucket challenge

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By Robert Cyran

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Roche’s latest $8 billion bet may outsmart the ice-bucket challenge. Dumping cold water on heads, the social-media phenomenon now boosting research on Lou Gehrig’s disease or amyotrophic lateral sclerosis (ALS), is a great way to raise charitable cash. But the drug made by Roche’s target, InterMune, treats an obscure yet equally fatal disease with more sufferers.

Aug 22, 2014 17:55 UTC

Dynegy’s $6.25 bln grab marks return of ambition

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By Christopher Swann

The author is a Reuters Breakingviews columnist. The opinions expressed are his own. 

Dynegy only got out of bankruptcy two years ago. Now two deals worth $6.25 billion, announced on Friday, mark a return of ambition for the U.S. power company. It once tried to buy Enron and eventually went bust after a spat involving activist Carl Icahn. The purchases look sensible, but the lesson from Dynegy’s past is to avoid getting carried away.

Aug 21, 2014 06:12 UTC

China Mobile’s foreign foray risks meagre returns

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By Ethan Bilby

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

China Mobile is using its cash pile to hunt for growth overseas. If past industry experience is any guide, however, returns could be meagre. Many other mobile operators have failed to create value through cross border tie-ups.

Aug 19, 2014 06:18 UTC

Sinopec petrol sale attracts a motley bunch

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By Ethan Bilby

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Sinopec’s petrol station stake sale could drum up a mixed bunch. The Chinese oil giant is seeking investors to help develop Sinopec Sales, which operates its vast network of filling stations. Prospective buyers from food retail, energy, technology and private equity have been shortlisted, according to Reuters. But the price tag of around $16 billion for a 30 percent stake could force them to club together.

Aug 18, 2014 18:53 UTC

Dollar store bid battle leaves value on the table

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By Kevin Allison

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Dollar store mergers, it turns out, don’t come cheap. Dollar General – call it General – on Monday joined the fight for rival U.S. discount retailer Family Dollar with a $9.7 billion cash offer. That topped an earlier agreed acquisition of Family by the smaller Dollar Tree, which as wags have noted could result in a combination called Family Tree. Even above General’s $78.50 a share bid, though, both of Family’s suitors have room to lob in a few more singles.