Deals wrap: Frothy results and scandal
News Corp may have to raise its BSkyB bid as much as 20 percent as its 7-month-old offer gets tied down in a phone-hacking scandal that may undermine the deal. The deal will likely overshadow the company’s quarterly earnings, which are due after the market closes on Wednesday.
Russian companies could have mere weeks to seize a short window to launch IPOs as investor confidence remains fragile and the state mulls a privatization plan that could swamp capital markets.
“If anyone needs proof the tech sector has entered extra-frothy, double-latte territory, it’s best to look past the immense valuations discussed for Groupon or Facebook,” reports The Wall Street Journal.
Expect to see Facebook ramp up its mobile advertising in the next year, reports The 451 Group.