Una's Feed
Aug 26, 2015

Indian tycoon may struggle to save Vedanta cleanup

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

By Una Galani

HONG KONG, Aug 26 (Reuters Breakingviews) – A slump in the
shares of Anil Agarwal’s mining group has turned the premium he
was offering to minority investors in cash-rich Cairn India into
a big discount. Sweetening the $1.1 bln deal is tricky. But
failure will leave the Vedanta with worse options to reduce
debt.

Aug 19, 2015
via Breakingviews

Indian e-tailer’s funds will disappear in a flash

Photo

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

Snapdeal’s latest fundraising reveals how the cash pouring into India’s e-commerce industry will disappear in a flash. The online marketplace is raising $500 million from investors led by China’s Alibaba and a Hong Kong-listed unit of Taiwan’s Foxconn at a valuation of almost $5 billion. Securing more big-name backers is a coup for the Indian start-up. But the cost of luring buyers and sellers to its platform means the new funds won’t last long.

Aug 12, 2015

Nestle’s Indian nightmare is worth chewing over

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

By Una Galani

HONG KONG, Aug 12 (Reuters Breakingviews) – Worries about
lead levels have forced noodles sold by the Swiss giant’s Indian
unit off the shelves. Now authorities want a huge $100 mln of
damages despite foreign agencies clearing the snack for sale.
Despite Modi’s reforms, life remains unpredictable for
multinationals.

Aug 6, 2015
via Breakingviews

Malaysia mess puts Goldman Sachs in the hot seat

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

An unfolding political scandal in Malaysia is starting to reverberate far from Kuala Lumpur to the downtown New York headquarters of Goldman Sachs. State fund 1Malaysia Development Berhad (1MDB) is at the centre of allegations of graft and mismanagement. The furore has prompted renewed scrutiny of hefty fees the Wall Street bank led by Lloyd Blankfein earned selling bonds for 1MDB. The affair threatens to expose a blind spot in Goldman’s processes for vetting sensitive deals.

Aug 6, 2015
via Breakingviews

Malaysia mess puts Goldman Sachs in the hot seat

Photo

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

An unfolding political scandal in Malaysia is starting to reverberate far from Kuala Lumpur to the downtown New York headquarters of Goldman Sachs. State fund 1Malaysia Development Berhad (1MDB) is at the centre of allegations of graft and mismanagement. The furore has prompted renewed scrutiny of hefty fees the Wall Street bank led by Lloyd Blankfein earned selling bonds for 1MDB. The affair threatens to expose a blind spot in Goldman’s processes for vetting sensitive deals.

Jul 22, 2015
via Breakingviews

Samsung clan could call on mobile unit next

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

Investors should worry about how Samsung Electronics fits into the Lee family’s wider restructuring plans. A rejig by the clan behind South Korea’s biggest chaebol could spark higher dividends from the $180 billion smartphone maker. But the Lees’ recent win against U.S. hedge fund Elliott suggests independent shareholders may have to suffer first.

Jul 17, 2015
via Breakingviews

Samsung win is bittersweet for ruling Lee family

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

The Lee family behind Samsung will be breathing a heavy sigh of relief. A $9 billion intergroup merger has been narrowly passed by shareholders, despite opposition led by Elliott, the hedge fund manager. That helps the family, whose patriarch is seriously ill, in its succession planning. But the U.S. activist is likely to fight on. And the challenge shows South Korea’s largest conglomerate is vulnerable to restive investors as it continues to restructure.

Jul 13, 2015
via Breakingviews

Samsung-Elliott showdown will shake up South Korea

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

Samsung’s merger battle will have a lasting effect on South Korea. Shareholders will decide on July 17 on a $9 billion tie-up opposed by U.S. hedge fund manager Elliott. The vote will be tight. Even if it passes, the family-run conglomerates, or chaebols, that dominate the country’s economy will probably tread more carefully with independent shareholders in future.

Jul 13, 2015

Online boom reboots private equity in India

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

By Una Galani

HONG KONG, July 13 (Reuters Breakingviews) – Private equity
is rebooting in India. Even as billions of dollars remain stuck
in investments from the last cycle, a record year of
fundraisings and deals is underway. One reason is that new
players have flocked to cash in on the country’s online boom.

Jul 9, 2015

India’s anti-graft campaign makes quiet strides

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

By Una Galani

HONG KONG, July 9 (Reuters Breakingviews) – India is home to
Asia’s other big anti-graft campaign. Narendra Modi’s drive to
squash corruption in the nation of 1.2 billion people lacks the
drama of Chinese president Xi Jinping’s crackdown. Yet as
India’s tycoons find it harder to win favour from politicians
and banks, Modi’s intention to stamp out crony capitalism – and
the potential benefits of a clean-up – are coming into focus.

    • About Una

      "Una Galani is Asia Corporate Finance Columnist of Reuters Breakingviews, based in Hong Kong. She spent three years in Dubai covering the region’s economies in the immediate aftermath of the Arab Spring. Previously, Una wrote on capital markets, mergers and acquisitions, and telecoms across Europe from London. She was commended in the category of Young Financial Journalist at the Harold Wincott Awards for 2009 after joining Breakingviews in 2006. Una read English Literature at Oxford. Follow Una on Twitter @ugalani"
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