M & A wrap: Stepping into China
Private equity firms, like Richard Ong’s RRJ Capital, are stepping into China where hedge funds once roamed, pursuing deals that look more like short term financing than long term growth bets.
Rising buyouts between China and Japan, abundant leveraged debt in the region and the depth of China’s markets mean Asia-Pacific private equity will continue to outperform the Western model, leading Asia fund managers said.
Warren Buffett’s new manager will see higher taxes and get less pay at his new job, reports the NYT.
“AT&T was sued by Cellular South, the ninth-largest wireless carrier by customers, in an effort to block its acquisition of T-Mobile based on claims their combined market power violates U.S. antitrust laws,” reports Bloomberg.
For your morning distraction: Netflix split off its DVD service to a separate website called Qwikster but it turns out a guy with a pot-smoking Elmo avatar already uses the Qwikster Twitter account name. “Man so much to plan so much deal so much negotiation n I want a plan when I still have part of it n stiL be making bank” tweets @Qwikster.