TheChek News Flow

+------------------------------------------------------------------------------+

Snapchat May Have Spurned Offers From Google, Tencent: ValleyWag 2013-11-15 13:35:27.797 GMT

By Beth Mellor Nov. 15 (Bloomberg) -- Snapchat has turned down multi- billion offers from Google, Tencent and Facebook, ValleyWag says, citing person familiar with matter. * Tencent was first to offer Snapchat a termsheet at valuation between $3b-$4b before walking away from deal after Snapchat CEO said he wanted a higher valuation, person said * Facebook offered Snapchat $3.5b plus earnouts, which was matched by Google; both offers were rejected by Snapchat, ValleyWag reports, citing person familiar * NOTE: Nov. 13, Dow Jones reported Snapchat spurned offer from Facebook that valued Snapchat at $3b or more

For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>

--Editor: Joanna Ossinger

To contact the reporter on this story: Beth Mellor in New York at +1-212-617-3078 or bmellor@bloomberg.net

To contact the editor responsible for this story: Joanna Ossinger at +1-212-617-7789 or jossinger@bloomberg.net

+------------------------------------------------------------------------------+

BN 11/15 13:31 *BILLIONAIRE PROKHOROV SAID TO LEAD BIDDERS FOR URALKALI STAKE BN 11/15 13:31 *URALKALI OWNERS SAID TO SEE SALE ACCORD AS SOON AS NEXT WEEK

+------------------------------------------------------------------------------+

*URALKALI OWNERS SAID TO SEE SALE ACCORD AS SOON AS NEXT WEEK 2013-11-15 13:32:55.358 GMT

--NADINE SKOCZYLAS

-0- Nov/15/2013 13:32 GMT

+------------------------------------------------------------------------------+

BN 11/15 11:10 *EU TO PROPOSE NOV. 25 PLANS FOR DOUBLE NON-TAXATION RULES BN 11/15 11:09 *EU TO PROPOSE TIGHTENING CORPORATE TAX LEGISLATION

+------------------------------------------------------------------------------+

EU to Propose Tightening Corporate Tax Legislation 2013-11-15 11:14:19.209 GMT

By Aoife White Nov. 15 (Bloomberg) -- EU regulators will propose on Nov. 25 an overhaul of tax rules in a bid to close off opportunities for corporate tax avoidance. * Proposals aim to tackle “double non-taxation i.e. where loopholes in national tax systems are exploited by companies to pay no tax at all,” European Commission says in e-mailed statement * “Double non-taxation deprives member states of significant revenues and creates unfair competition between businesses in the single market,” EU says. “Tackling this problem requires urgent and coordinated action at EU level” * Tax legislation changes need full support from all 28 EU member states

For Related News and Information: First Word scrolling panel: {FIRST<GO>} First Word newswire: {NH BFW<GO>}

To contact the reporter on this story: Aoife White in Brussels at +32-2-237-4329 or awhite62@bloomberg.net

To contact the editor responsible for this story: Peter Chapman at +32-2-285-4318 or pchapman10@bloomberg.net

+------------------------------------------------------------------------------+

S&P 500 Yr-End Target Raised by JPMorgan’s Lee; Lists 21 Stocks 2013-11-15 10:16:38.560 GMT

By Roger Neill Nov. 15 (Bloomberg) -- JPMorgan’s Thomas J Lee raises S&P 500 target to 1,825 vs 1,775; says U.S. in secular bull market, remaining constructive on equities is warranted. * Technology, financials are half of 50-point target increase; still comfortable tilting toward cyclicals given expectations of broadening growth in U.S., Europe, potential for P/E expansion: Lee * Lists stocks: CA, NE, RIG, IVZ, DAL, PCLN, ACT, TROW, MYL, ENDP, VVUS, HTWR, TRLA, LCC, TEN, WWWW, PZN, ALSN, SXCP, ARCC, AWAY * CRITERIA: Industry in the top quartile of QTD performance; raised net income estimates from 9/30 to 11/14; rated overweight or neutral by JPMorgan Analysts * NOTE on Nov. 13: Strategists’ S&P 500 Index Estimates for Year-End 2013 (Table)

For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>

--Editor: Roger Neill

To contact the reporter on this story: Roger Neill in London at +44-20-7673-2867 or rneill3@bloomberg.net

+------------------------------------------------------------------------------+

Deutsche Post Plans Higher Prices for Letters, Parcels Next Year 2013-11-15 08:35:04.523 GMT

By Richard Weiss Nov. 15 (Bloomberg) -- Deutsche Post proposes to raise some prices citing higher personnel, transportation costs. * Standard letter stamp to cost EU0.60 from Jan. 1 vs EU0.58 * NOTE: co. in Jan. raised stamp price to EU0.58 vs EU0.55 * Proposes to raise prices for various registered letter services, parcels weighing >2kg, international services * Filed proposal with Germany’s Federal Network Agency for Electricity, Gas, Telecommunications, Post and Railways * Govt agency has 14 days to respond to proposal * NOTE: Federal Network Agency changed rules to allow Deutsche Post to increase prices in line with CPI

For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>

--Editor: Jurjen van de Pol

To contact the reporter on this story: Richard Weiss in Frankfurt at +49-69-92041-287 or rweiss5@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at +49-30-70010-6230 or bkammel@bloomberg.net

+------------------------------------------------------------------------------+

WPP Bid for Interpublic Very Unlikely, Analysts Say 2013-11-15 08:35:39.479 GMT

By Blanche Gatt Nov. 15 (Bloomberg) -- WPP little changed in thin vol. in early trade following a Daily Mail report it may bid $25-share for Interpublic. * Interpublic closed at $17.28 in New York * Liberum says a WPP cash bid for Interpublic as mentioned in Daily Mail report is “very unlikely.” * Says Interpublic weak in digital, faster-growing mkts, which are WPP’s target growth areas * Interpublic has various decade-old “legacy issues” that constrain its scope to expand margins * WPP CEO Martin Sorrell has criticised Publicis/Omnicom merger partly because of scale: Liberum * Kepler Cheuvreux analyst Conor O’Shea says in e-mailed comment mooted bid “unlikely given Martin Sorrell’s comments on the Publicis/Omnicom deal” * NOTE: At Goldman conference in Sept., WPP’s Sorrell said unlikely to acquire Interpublic or Havas in near term, plans to spend ~ $500m-$1b annually on M&A * WPP had GBP1.94b in cash, mkt cap GBP18b vs Interpublic mkt cap $7.5b: Bloomberg data For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>

--Editor: Gaurav Panchal

To contact the reporter on this story: Blanche Gatt in London at +44-20-7392-0351 or bgatt@bloomberg.net

To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net

JPM economist raises end-2013 S&P price target to 1825 from 1775

BAER -2-3% AuM better but margins weak implying 90bps for H2 (CSe 97) Deut Post +1% Spec co to raise letter postage from start of next year H&M +1-2% Sales no's fine. Oct LFL +1% (cons +0.8%) IAG +1-2% Raises 2015 guid to 1.8b (from 1.6b). Now inline w/ cons Iliad unch Q3 sls, net additions inline. Solid ARPU no. Was +3.5% yday Peugeot +2% Spec Dongfeng may sign letter of intention this year Merlin unch CS initiate with N , TP 352p (see stock as fully valued) Michelin +1-2% Strong November Industry Tyre data despite weaker Russia Miners +1% China +1.7%, Copper unch, OZ Miners +0.5% Pandora -3-4% Investors placing 20m shs (~15.4% of co) @ DKK 245 Rotork -1-2% Mixed. Q3 order book weak, but outlook for Q4 looks strong Safran -2-3% France selling 4.7% stake @ €46.30 (3.6% discount, €720m) SAP +0.5% CS hosted CEO yday (+ve) - broker upgrade away Tullow +2% +ve read from Kosmo Energy analyst day (own Ghanian fields) also bad news on French Guiana...not sure of this one... WPP -0.5% Spec co may bid $25/sh cash offer for Interpublic ($10bn) Vedanta +1% No's inline, EBITDA $2.2b (CSe $2.2b). Reit FY Vivendi +2-3% Strong no's, reit guidance, stock been weak into no's

+------------------------------------------------------------------------------+

Shell Fails to Find Oil With Tullow in Final French Guiana Well 2013-11-13 07:51:21.955 GMT

By Eduard Gismatullin Nov. 13 (Bloomberg) -- Royal Dutch Shell Plc and Tullow Oil Plc failed to find oil or natural gas in their last planned exploration well off French Guiana, a partner said. The companies drilled the GM-ES-5 well to a total depth of 6,460 meters (21,200 feet), Northern Petroleum Plc said today in a statement. The well will be plugged and abandoned. “Reservoir sequences were encountered as expected but with no evidence of hydrocarbons,” Northern Petroleum said. “Once the drill ship, the Stena ICEMax, has completed the abandonment operations it will move to a location outside French Guiana.” The result marks the fourth unsuccessful well off the Latin American country, where Tullow made the first oil find with its Zaedyus well in 2011. The Shell-led joint venture, which also includes Total SA and Wessex Exploration Plc, will suspend drilling until 2015, Northern Petroleum said in September. Tullow said today in a separate statement that the GM-ES-5 well had reached its target depth and “evaluation operations are ongoing.”

For Related News and Information: Shell to Suspend French Guiana Drilling Until 2015, Partner Says NXTW NSN MTO2G96JTSE8 <GO> Tullow Switches Exploration Focus to Suriname From French Guiana NXTW NSN MQSIM40YHQ0X <GO> Tullow Opens Oil Frontier in French Guiana, Boosting Economy NXTW NSN LR9J0Z6KLVR8 <GO> Shell business by region: RDSA LN <EQUITY> FA GEO <GO> Tullow financial analysis: TLW LN <EQUITY> FA <GO> Today’s top energy news: ETOP <GO>

--Editors: Amanda Jordan, Ana Monteiro

To contact the reporter on this story: Eduard Gismatullin in London at +44-20-7673-2268 or egismatullin@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at +44-20-7073-3603 or wkennedy3@bloomberg.net