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Mar 29, 2010

Rothschild quartet helped China’s Geely snare Volvo Cars

LONDON, March 29 (Reuters) – One of China’s most senior
female bankers, two top Swedish industrialists and a childhood
friend of London’s mayor led the Rothschild team that helped
Geely seal China’s biggest-ever overseas autos takeover.

Signing the deal helps cement Rothschild’s [ROT.UL]
standing as the busiest adviser to the automotive industry –
and underlines the family owned bank’s impeccable establishment
credentials.

Mar 29, 2010

LSE mulls moves in index, post-trade areas

LONDON (Reuters) – London Stock Exchange Group Plc (LSE) <LSE.L> wants to make more of its half stake in the FTSE Group of indexes and may pursue acquisitions to build its post-trade services business, its chief executive said on Monday.

LSE, which operates bourses in London and Milan, has been losing ground in share trading since Europe’s markets were opened to competition in 2007. It has fought back by cutting fees and post-trade costs and by expanding into new businesses.

Mar 29, 2010

Geely-Volvo deal financing totals $2.7 billion: sources

HONG KONG/LONDON (Reuters) – China’s Zhejiang Geely Holding Group has lined up total financing of $2.7 billion to back its purchase of Ford Motor’s <F.N> Volvo car unit, sources said on Monday.

The extra $900 million above the reported purchase price will allow the Chinese auto maker to grow its business and draw down capital during fallow cycles in the auto industry.

Mar 29, 2010

Geely-Volvo deal financing totals $2.7 bln-sources

HONG KONG/LONDON, March 29 (Reuters) – China’s Zhejiang
Geely Holding Group has lined up total financing of $2.7 billion
to back its purchase of Ford Motor’s <F.N> Volvo car unit,
sources said on Monday.

The extra $900 million above the reported purchase price
will allow the Chinese auto maker to grow its business and draw
down capital during fallow cycles in the auto industry.

Mar 26, 2010

UK insider trading suspect denies wrongdoing

LONDON, March 26 (Reuters) – A hedge fund trader among seven
men arrested as part of Britain’s biggest swoop on an insider
trading ring said he was innocent on Friday as the probe shone
an unwelcome light on several banks and listed companies.

Britain’s Financial Services Authority (FSA) and the Serious
Organised Crime Agency (SOCA) made the arrests this week on
suspicion of involvement in a long-running and sophisticated
insider-dealing ring. [ID:nLDE62N1WU]

Mar 24, 2010

Deutsche Telekom picks Citi as corporate broker

LONDON, March 24 (Reuters) – Deutsche Telekom <DTEGn.DE> has
appointed Citigroup <C.N> as its corporate broker, in a rare
example of a non-UK company adopting the British model of naming
trusted bankers to liaise with big investors.

If more big European groups follow the German telephone
company’s lead, it could open up a new field in the hotly
contested fight among London banks for corporate broking roles.

Mar 23, 2010

UK’s ABI against “supermajority” M&A rules

LONDON, March 23 (Reuters) – One of Britain’s most
influential investor groups said it did not endorse a proposal
by Business Secretary Peter Mandelson to make UK takeovers
tougher by requiring approval by a two-thirds “super-majority”.

But the Association of British Insurers (ABI) said its
members supported several other proposals, including increasing
disclosure of who owns shares during takeover battles.
Kraft’s <KFT.N> hostile-turned-friendly takeover of Cadbury
has sparked debate about Britain’s long-standing openness to
takeovers and whether businesses and investors take a
sufficiently “long-term” view.

Mar 22, 2010

Biffa moves towards landfill-gas unit sale -sources

LONDON, March 22 (Reuters) – British waste manager Biffa
[WSAQTB.UL] has started the process to sell a unit that
generates power from landfill gas by sending information to
prospective buyers, people familiar with the matter said.

The business turns methane gas emitted from rotting rubbish
at dozens of landfill sites across Britain into a power source
that can last for up to three decades.

Mar 19, 2010

Arriva investors say D. Bahn should offer more

LONDON, March 19 (Reuters) – Two top ten shareholders in
Arriva Plc <ARI.L> said suitor Deutsche Bahn AG [DBN.UL] should
offer considerably more than Arriva’s current share price to
reflect the strategic value of the British transport group.

Deutsche Bahn revealed the preliminary takeover approach
earlier this week, after market talk of a 700-pence-a-share bid,
but neither it nor Arriva disclosed an offer price.

Mar 16, 2010

Siemens hearing aid valuation seen too ambitious

LONDON, March 16 (Reuters) – Devices for the hard of hearing
shouldn’t be a hard sell for investors: greying populations,
cacophonous modern life, and the advent of sleeker machines to
win image-conscious converts should all make for big profits.

But private equity firms have balked at the hearing-aid
business Siemens AG <SIEGn.DE> has just tried to offload — even
though a disposal made plenty of sense for the German industrial
giant. [ID:nLDE62E23A]

    • About Quentin

      "Quentin Webb is a Reuters Breakingviews columnist, covering mergers and acquisitions, corporate finance and private equity. He is based in London. Before becoming a columnist, he was a news reporter for Reuters, where he was most recently European M&A correspondent. He has also worked as a correspondent in Brussels and as a credit-markets reporter. He joined Reuters in 2003 from Legalease, a legal publisher. He has a first-class degree in psychology from University College London."
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