(BFW) Mercedes-Benz to Recall 57,843 Vehicles in China From Aug. 22

BFW 08/05 09:24 *MERCEDES-BENZ TO RECALL 57,843 VEHICLES IN CHINA
BN 08/05 09:24 *CHINA AQSIQ POSTS STATEMENT ON WEBSITE ON RECALL
BN 08/05 09:23 *MERCEDES-BENZ TO RECALL 57,843 VEHICLES IN CHINA
Mercedes-Benz to Recall 57,843 Vehicles in China From Aug. 22
2014-08-05 09:40:56.396 GMT


By Bloomberg News
Aug. 5 (Bloomberg) -- Smart fortwo models produced between
2010 and 2014 are recalled, according to a statement on website
of General Administration of Quality Supervision, Inspection and
Quarantine today.
* Recall due to an electric circuit problem that poses safety
risk, statement says, without specifying what the risk is
* Link to statement: http://tinyurl.com/lqzo2mp

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(NY Post) Goldman-backed app may challenge Bloomberg termina

Goldman-backed app may challenge Bloomberg terminals

Lloyd Blankfein has a message for Mike Bloomberg: We’re coming for you. The CEO’s bank, Goldman Sachs, is leading a about a half-dozen other Wall Street firms in investing in the free messaging app Perzo as a direct challenge to Bloomberg’s $24,000-a-year terminal. The Bloomberg terminal is ubiquitous on Wall Street, used by traders and researchers to do everything from find the price of a Treasury bond to structure the most complex derivatives. It also has a chat feature that’s been used by prosecutors to show how traders rigged markets. Wall Street firms have found that users who don’t usually use Bloomberg’s chat feature are more likely to give up their terminal for cheaper alternatives, two people aware of plans for a bank-led chat service said. That’s given banks like Goldman an opening in prying its employees away from the expensive machines. The banks have reportedly received term sheets and signed non-disclosure agreements for the investment. Reuters first reported details of the potential investment. Michael DuVally, a Goldman spokesman, and Mark Murphy of Bloomberg declined to comment. David Gurle, founder and CEO of Perzo, didn’t respond to questions about the offer. In June, Blankfein discussed how Goldman has focused more on technology during an interview on Bloomberg TV with the former mayor. "We’re a technology firm and it doesn’t stay still," Blankfein said.

>>> Eike Batista to transfer 10.52% stake in MMX to Mubadala

Eike Batista to transfer 10.52% stake in MMX to Mubadala
MMX Mineracao e Metalicos (MMXM3: BZ) informs its shareholders and the market in general that, in the context of the investment restructuring of Mubadala Development Company in EBX Group, its controlling shareholder Eike Batista Fuhrken signed binding agreements with Mubadala by which he undertook to assign to Mubadala, directly and/or through his affiliates, 17,065,162 common shares of the Company, representing 10.52% of the shares issued by the Company. The assignment of such shares is subject to usual conditions precedent and is expected to be concluded in the course of the third quarter of 2014.

The Company will keep its shareholders and the market in general informed of any update regarding the relevant assignment of shares.

>>> Telefonica submits bid for GVT; offers Vivendi Telecom Italia stake

Telefonica submits bid for GVT; offers Vivendi Telecom Italia stake
Telefónica S.A. and Telefónica Brasil have submitted an offer to Vivendi for the combination of Telefónica Brasil and Global Village Telecom (GVT), which includes a cash consideration of 11,962m Brazilian Reais and newly issued shares representing 12% of the share capital of the new Telefónica Brasil, after its combination with GVT.

Considering the current market price of Telefónica Brasil, the offer amounts to a total of 20,100m Brazilian Reais (equivalent to EUR 6,700m at current exchange rates). The cash consideration would be financed via a capital increase at Telefónica Brasil subscribed by Telefónica S.A. in proportion to its current stake (74%), whose contribution will be funded, in turn, via a capital increase.

The offer envisages that, should Vivendi be interested in acquiring a stable stake in Telecom Italia, Telefónica could offer Vivendi the acquisition, in cash, of up to 1,110m ordinary shares of Telecom Italia, currently representing a stake of 8.3% of the Telecom Italia voting share capital. The transfer of the shares would take place at closing of the transaction between Vivendi and Telefónica Brasil.

The offer is subject to obtaining the relevant regulatory authorizations and to the fulfillment of other customary conditions in this type of transaction. According to the terms of the offer, it expires on September 3, 2014, unless it is previously accepted by Vivendi, S.A., or if bidders decide to extend the Offer’s validity period.

Vivo, commercial brand of Telefónica in Brazil, is the leader operator in the mobile wireless market and leading broadband services provider in the city of Sao Paulo. GVT is the most successful and fastest growing alternative operator in Brazil. A combination of Vivo and GVT would create the largest telecom operator in Latin America’s largest market, providing a unique platform for the generation of synergies and value creation.

This offer underlines Telefónica’s commitment to Brazil, a country where the Group has been making strong investments to consolidate the growth of the telecommunication market.

>>> Vivendi - Strong Outperformance for the last 2 weeks.

I have been bullish on VIV for the last few weeks, and push it again after the correction 2 weeks ago, with last week move on the market and VIV Outperforming, we can see that there is still a stong interest on the stock...I strongly believe that today GVT news is a good catalyst but awaited from a long time...I still believe that the stock could trade higher in absolute term but could see some short Underperformance in relative term ( have a look to atatched chart ).

I will use any correction to add some more, any level below the 19 level is "add more" level.

{VIV FP Equity SX5E Index GRT D <GO>}

{VIV FP Equity SX5E Index RGIP 15 <GO>}

>>> Vivendi / GVT - Oddo comment

ODDO + VIVENDI (BUY, TP E24) TELEFONICA MAKES FORMAL OFFER FOR GVT: TEF confirms
this WE rumour and its subsidiary Telefonica Brazil makes a formal offer for
GVT at E6.7bn (offer is in real), 60% in cash, balance in Telefonica Brazil
share. Tef Brazil would issue new shares to finance the cash part of the deal,
TEF (74% holder) would participate and itself issue new shares through a
capital increase. Offer is valid till Sept 3rd, subject to relevant regulatory
authorizations, and TEF even mentions it could pay VIV... in TIT shares (1110m
shares, 8.3% of the Kal, a little less than E1bn.
OUR VIEW: obviously good news for VIV, even if the premium vs our GVT valuation
is not massive (we value GVT at E6.4bn, i.e E4.9 per VIV share) representing
only E0.3 per share. BUT we believe we are on top of consensus here. Can VIV
accept such an offer ? the board ackonwledges the offer eventhough it
reiterates that none of its units are for sale. We believe nevertheless it
could sell GVT (bear in mind it already tried to sell it at the very beginning
of the asset review at VIV 2 years ago) and believe a takeover battle TIT/TEF
is possible for it as a "fix/mobile" convergence deal in Brazil does make
sense. Note we understand that management of TIT was on the road recently and that they were quite "talkative" about GVT... More to come once I chat with
analyst, but there's clearly some hidden value in GVT. We reiterate (more than
ever) BUY reco on VIV, TP E24

>>> Asian Numbers today

Asian Numbers today :
- Consumer Discretionary: Daiichikosho 7458.JP +2.6% (Q1 results)
- Consumer staples: WH Group 288.HK +7.7% (IPO debut)
- Financials: Cinda International 111.HK +9.7% (H1 guidance); HSBC 5.HK +0.8% (H1 results); Greentown China 3900.HK -10.6% (H1 guidance); Bank of Yokohama 8332.JP -3.9% (Q1 results); NTT Urban Development Corp 8933.JP +4.8% (Q1 results); Yamaguchi Financial Group 8418.JP -1.9% (Q1 results); Suruga Bank 8358.JP -4.8% (Q1 results)
- Industrials: Brother Industries 6448.JP -3.5% (Q1 results); Isuzu Motors 7202.JP +4.8% (Q1 results); Japan Steel Works 5631.JP -7.7% (Q1 results); Downer DOW.AU -4.0% (FY14 results)
- Technology: Tamron 7740.JP +2.0% (Q2 results); Rakuten 4755.JP +5.1% (H1 results)

>>> What to look at today - 05/08/2014

US Market Closed Higher, Banco Espirito Santo bailout gave some more confidence about Europe to deal with issues, The top-weighted S&P 500 sector—technology (+0.7%)—ended in line with the benchmark index. Large cap listings displayed broad strength with Google (GOOGL 582.27, +8.67) and Microsoft (MSFT 43.37, +0.51) both adding near 1.3%, while Apple (AAPL 95.59, -0.54) lagged. The largest tech stock shed 0.6%, Industrial Underperformed (+0.3%), On the countercyclical side, consumer staples (+0.4%), health care (+0.5%), and telecom services (+0.6%) benefitted from the afternoon rally,
while the utilities sector (-0.6%) spent the entire trading day in the red to widen its third quarter loss to 7.1%, Like energy, the consumer discretionary sector (+1.0%) also added at least 1.0%. The group received all-around support as carmakers, homebuilders, and retailers rallied. Volume @ 661mil shares below average. VIX @ 15.12 -11.22% ...Today, June Factory Orders ( consensus 0.5%) and the ISM Services Index for July (consensus 56.5) will both be reported at 10:00...Early optimism that followed a rebound on Wall St has dissipated with the release of record-low HSBC services PMI figure from China. HSBC economist noted the "weakness in the headline number likely reflects the impact of the ongoing property slowdown in many cities as property related activity see less business... meanwhile, the employment and business sentiment indices remain stable." Separately, Chinese press speculated lending activity by China's top 4 banks in July would slow to CNY210B v CNY290B in June...
Asian Numbers today :
- Consumer Discretionary: Daiichikosho 7458.JP +2.6% (Q1 results)
- Consumer staples: WH Group 288.HK +7.7% (IPO debut)
- Financials: Cinda International 111.HK +9.7% (H1 guidance); HSBC 5.HK +0.8% (H1 results); Greentown China 3900.HK -10.6% (H1 guidance); Bank of Yokohama 8332.JP -3.9% (Q1 results); NTT Urban Development Corp 8933.JP +4.8% (Q1 results); Yamaguchi Financial Group 8418.JP -1.9% (Q1 results); Suruga Bank 8358.JP -4.8% (Q1 results)
- Industrials: Brother Industries 6448.JP -3.5% (Q1 results); Isuzu Motors 7202.JP +4.8% (Q1 results); Japan Steel Works 5631.JP -7.7% (Q1 results); Downer DOW.AU -4.0% (FY14 results)
- Technology: Tamron 7740.JP +2.0% (Q2 results); Rakuten 4755.JP +5.1% (H1 results)


Eur$ 1.3425 S&P -0.15% EuroStoxx +0.16% FTSE -0.02% SMI +0.02% Dax +0.30%

Macro
- HSBC China July Services PMI 50 vs 53.1 in June
- HSBC India July Composite PMI 53 vs 53.8 in June
- KKR Expects European M&A Market to Gain Traction: Handelsblatt
- Russia May Restrict Overflights as Sanctions Response: Vedomosti
- ZEW President Says Banking Union Could Stabilize Europe: HB

Keep an eye on :
- AKTAV FH : Aktia Bank Boosts Capital Ratio, EPS; Net Interest Income Drops
- SPR GY : Axel Springer 2Q Rev, Ebitda Beat; Reiterates Full Year Forecast
- BALN SW : Baloise Sees 1H Profit up More than 40% to More Than CHF340m
- BES PL : Novo Banco could stay in state hands for up to two years- report
- BIM IM : Banca IPIBI and BIM sale could be announced this week
- BMSA GY : Braas Monier 1H LFL Revenue Growth 6%, Confirms 2014 Outlook
- BMW GY : BMW 2Q Profit Beats Est., Rev. Misses; Confirms Forecast (1114 -1.25% in HK)
- BWO NO : BW Offshore Signs Documentation for New $800M Bank Loan Facility
- ACA FP : Credit Agricole 2Q Profit Misses Ests. on Espirito Santo Costs
- ACA FP : Credit Agricole Entering Talks With U.S. Over OFAC Review: CEO
- DAI GY : China Antitrust Regulator Inspects Mercedes Office: Jiemian
- DPW GY : Deutsche Post 2Q Profit Beats; Sets 2016 Ebit Target
- DTE GY : Deutsche Telekom Said Unimpressed by Iliad’s TMUS Bid: Reuters
- DSM NA : DSM 2Q Ebitda Cont. Operations Ex-Items EU293m, Estimate EU301m, Says 2Q Improvement at Nutrition vs Last 2 Quarters
- DVR LN : De Vere Group believed to have agreed to GBP 162m sale of six golf resorts to Sankaty Advisors
- EUZ GY : Eckert & Ziegler BEBIG 1H Net Loss EU967,000 Vs EU658,000 Profit
- GLPG BB : Galapagos Gets Osteoarthritis Milestone Payment From Servier
- GSK LN : Rumored to be a target for Pfizer - Daily Express - the Guardian
- HSBA LN : HSBC Rises in Hong Kong After CEO Predicts Revenue Rebound
- ILD FP : Deutsche Telekom Said Unimpressed by Iliad’s TMUS Bid: Reuters
- LG FP : Lafarge, Holcim Propose Sale of 3 Brazilian Cement Plants
- MEO GY : Metro In Talks to Sell Vietnam Cash & Carry Unit: WSJ (Yday)
- OERL SW : Oerlikon 2Q Ebit, Orders Rise; Confirms 2014 Forecasts
- PFV GY : Pfeiffer Vacuum 2Q Sales, Orders Drop; Confirms Forecast
- 1913 HK : Prada PT Cut to HKD57.8 at Mediobanca; Kept at Neutral ( -1.19%)
- RHI AV : RHI 2Q Sales and Profit Fall on Sluggish Market, Restructuring
- RHJ GY : Deutsche Bank Sells Stake in RHJ as Oddo & Cie Boosts Holding
- ROD FP : Rodriguez Group declared bankrupt, could find buyer for Camper and Nicholsons activities
- SLR SM : Solaria 1H Net EU4.4m vs Loss EU2.8m Y/y
- TKA GY : ThyssenKrupp Job Cuts at Italy Mill Said on Hold: Reuters Link
- TNET BB : Telenet Attractive Cash Return in Sight, Nomura Says; Rates Buy
- UCG IM : UniCredit to Decide on Pioneer Sale in September: Repubblica
- VIV FP : Telefonica Says Made Offer for Vivendi's GVT Unit, €6.7bil, Vivendi Confirms Bid;Says Board Will Study Offer From Telefonica
- VCT FP : Vicat 1H Rev. EU1.22b vs Est. EU1.16b