Euan's Feed
Oct 22, 2013

Sobeys-Safeway deal approved by Canada’s Competition Bureau

TORONTO (Reuters) – Empire Co Ltd (EMPa.TO: Quote, Profile, Research, Stock Buzz), the operator of Canadian grocery chain Sobeys, said on Tuesday that Canada’s competition watchdog approved its acquisition of substantially all of Safeway Inc’s (SWY.N: Quote, Profile, Research, Stock Buzz) assets in Canada.

To win approval from the Competition Bureau, Empire agreed to divest some 23 stores in British Columbia, Alberta, Saskatchewan and Manitoba. The stores being sold include 13 Safeway stores and 10 stores that operate under different banners owned by Empire.

Oct 21, 2013

Canada’s Maple Leaf Foods explores sale of Canada Bread stake

TORONTO/WINNIPEG, Manitoba, Oct 21 (Reuters) – Canadian food
processor Maple Leaf Foods said on Monday it may sell
its controlling stake in Canada Bread Company as it
determines whether to exit the bakery business and focus on meat
products.

Toronto-based Maple Leaf said it has recently completed a
comprehensive review of opportunities to accelerate profitable
growth across its bakery business. But before committing
resources, it decided to explore strategic alternatives,
including a sale of its 90 percent stake in Canada Bread.

Oct 17, 2013

Lenovo signs non-disclosure deal with BlackBerry: WSJ

TORONTO (Reuters) – Chinese personal computer maker Lenovo Group Ltd has signed a non-disclosure deal to examine the books of troubled Canadian smartphone maker BlackBerry Ltd, the Wall Street Journal said on Thursday, quoting unnamed sources.

Smartphone pioneer BlackBerry said in August it was exploring options that could include an outright sale.

Oct 16, 2013

Telecom tycoon says Ottawa’s policy imperils Wind, foreign investment

TORONTO, Oct 16 (Reuters) – Lack of clarity around Ottawa’s
telecommunications policy has jeopardized foreign investment in
Canada and cast doubt over the future of Wind, the largest new
player in the Canadian wireless market, said Egyptian telecom
magnate Naguib Sawiris on Wednesday.

Sawiris bankrolled the start-up of new telecom player Wind
Mobile in 2008, but he lost his ties with the company after his
controlling stake in Orascom was sold to European telecoms firm
Vimpelcom Ltd in 2011.

Oct 16, 2013

Egyptian tycoon says Wind Mobile in peril due to Ottawa policy

TORONTO (Reuters) – Egyptian telecom magnate Naguib Sawiris said on Wednesday the lack of clarity around Ottawa’s telecom policy has put Wind Mobile, the largest new entrant in the Canadian wireless market, at risk of going bust.

Asked about the health of the company, a spokesman for Wind said by email: “We can’t comment on Mr. Sawiris’ statement as it is his personal opinion and he is no longer connected to Wind Mobile Canada.”

Oct 14, 2013

Talks between union and CN Rail break down, strike looms

TORONTO, Oct 14 (Reuters) – Talks between the railroad
workers’ union and Canadian National Railway Co have
broken down, raising the possibility of a strike or a lockout by
Oct. 28 at the country’s largest railroad operator, the union
said on Monday.

The Teamsters Canada Rail Conference, which represents some
3,300 conductors, trainmen, yardmen and traffic coordinators,
said the company rejected the union’s offer to extend
conciliation talks that ended on Oct. 7.

Oct 11, 2013

Exclusive: Glencore, Vale in talks over Canadian nickel tie-up – sources

LONDON/TORONTO (Reuters) – Glencore Xstrata (GLEN.L: Quote, Profile, Research, Stock Buzz) and Vale (VALE5.SA: Quote, Profile, Research, Stock Buzz) have revived talks over a potential combination of the mining groups’ nickel operations in Canada’s Sudbury basin, in an effort to cut costs as prices for the metal languish, sources familiar with the situation said.

The discussions are still at an early stage but have revived hopes of a long-debated Sudbury tie-up, with the companies considering a number of options for their mining and processing operations in the area, the sources said.

Oct 9, 2013

Analysis: Canada veto complicates BlackBerry, telecom deal making

TORONTO (Reuters) – When Canada blocked the sale of a fiber optic network to a company backed by an Egyptian telecom tycoon this week, it telegraphed its resolve to make national security paramount when considering whether to allow a foreign firm to acquire what it considers a strategic asset.

That warning may effectively limit the pool of would-be buyers of BlackBerry Ltd or foreigners interested in Canada’s telecom industry, and it could rule out all but a few well-established players based in North America, industry executives, lawyers and analysts say.

Oct 9, 2013

Canada veto complicates BlackBerry, telecom deal making

TORONTO, Oct 9 (Reuters) – When Canada blocked the sale of a
fiber optic network to a company backed by an Egyptian telecom
tycoon this week, it telegraphed its resolve to make national
security paramount when considering whether to allow a foreign
firm to acquire what it considers a strategic asset.

That warning may effectively limit the pool of would-be
buyers of BlackBerry Ltd or foreigners
interested in Canada’s telecom industry, and it could rule out
all but a few well-established players based in North America,
industry executives, lawyers and analysts say.

Oct 8, 2013

Talisman shares drop as investors question Icahn effect

TORONTO/CALGARY (Reuters) – Talisman Energy Inc (TLM.TO: Quote, Profile, Research, Stock Buzz) shares fell on Tuesday as investors raised doubts that activist investor Carl Icahn would be able to force dramatic changes on the struggling Canadian oil producer.

Icahn disclosed a 6 percent stake in Talisman late on Monday, making him its second-largest shareholder, according to Reuters data. It is the second time Icahn has taken a position in Talisman. He acquired 4.8 million shares in 2007, when the company was facing pressure to boost its share price.

    • About Euan

      "Euan Rocha covers mining and minerals in Canada, where he focuses on gold, base metals and fertilizer companies. Euan, who is currently based in Toronto, has previously worked with Reuters in the United States and India. While based in New York for four years, Euan headed the Reuters Alerts team, before moving on to cover the U.S. chemical industry. Euan began his career with Reuters in Bangalore, India in 2004."
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