Early premarket gappers
Gapping up: NOR +6.1%, HMY +2.9%, MT +2.6%, NFLX +1.9%, KLIC +1.1%, GLD +1.1%, MNKD +1%, ABX +1%, FOXA +0.5%
Gapping down: STP -4.1%, SPWR -3.4%, TSLA -1.6%, TTM -1.6%, TEVA -1.6%, PBPB -1.5%, DEO -1.4%, SAP -1.2%, FB -0.9%, FSLR -0.9%, AIG -0.9%
FX dealers noting Greek press acticle of a 'discussion' involving seizure of 10% of all deposits across Europe to solve the debt crisis as an alternative to creating a single currency debt full story: {http://www.imerisia.gr/article.asp?catid=26517&subid=2&pubid=113128545}
Kabel Deutschland Holding Vodafone offer for Kabel Deutschland settled - Announces that the voluntary public takeover offer (the "Offer") for Kabel Deutschland Holding AG ("KDH") by Vodafone Vierte Verwaltungs AG (formerly Vodafone Vierte Verwaltungsgesellschaft mbH; "Vodafone Vierte"), a subsidiary of Vodafone, has been settled and completed as of Monday, 14 October 2013. Vodafone now holds 76.57% of the share capital of KDH. - Following resolution at the general meeting of KDH shareholders on 10 October 2013, Vodafone reiterates its intention to enter into a domination and profit and loss transfer agreement with KDH pursuant to sections 291 et seq. of the Stock Corporation Act and confirms that Vodafone and KDH have commenced discussions on this matter.
Loewe receives six non-binding offers, binding offers expected soon
Loewe, the listed German TV set maker, has received six non-binding offers, Frankfurter Allgemeine Zeitung reported. The German daily cited Loewe's insolvency administrator Alfred Hagebusch who said that six non-binding offers have come in and that he expects the binding offers to be submitted in the next few weeks. The due diligence is underway, he stated. Hagebusch is in talks with financial investors, wealthy individuals and a strategic investor, the report stated.
Hagebusch said breaking up Loewe is not an alternative option due to the level of interest in the company.
Source Frankfurter Allgemeine Zeitung
BlackBerry co-founders would compete with Fairfax for financing if they opt to bid
BlackBerry Co-Founders Mike Lazaridis and Doug Fregin, who could table an offer for the struggling smartphone maker, would be competing for financing with Fairfax Financial Holdings, according to a newswire report.
Bloomberg News on Friday cited Catharine Sterritt, a risk arbitrage strategist at Bank of Nova Scotia, as saying that it would be illogical for two groups to look for the same sort of financing. Meanwhile, David Cockfield, a fund manager working with Northland Wealth Management, said in the article that it could prove challenging for Lazaridis to get the financial commitments he will need to move forward with a bid for BlackBerry. An unidentified source familiar with the situation said in the article that Fairfax isn't working with the BlackBerry co-founders.
Separately, Michael Sabia, CEO of Montreal, Quebec-based Caisse de Depot et Placement du Quebec, said in another Bloomberg article on Friday that the pension fund probably won't opt to invest in BlackBerry since it leans towards investing in more predictable entities such as Colgate-Palmolive and Coca-Cola.
Meanwhile, the first Bloomberg article cited Lazaridis as saying on Thursday that he has retained Goldman Sachs Group and Centerview Partners to assist him in considering an offer for BlackBerry.
Source Newswire Round-up
ECB's Bonnici (Malta): Expect EUR to ease up a bit at some point - Reiterates central bank view that EUR current level was not a downside risk to EMU growth - Reiterates view that ECB would cut rates if needed, but impact would be limited - There is good and bad to negative interest rates - Keeping an eye on need for LTRO, will act if needed - Inflation to stay at a reasonable 1-2% range
Wolters Kluwer To sell several publishing assets and related activities in the Netherlands; Terms of the deal were not disclosed - Has reached agreements to sell several of its publishing assets and related activities in the Netherlands. The transaction involves Binnenlands Bestuur, Assurantie Magazine, and publications for general and financial management. - The move helps rebalance our European Legal & Regulatory operations towards specialized information tools and productivity solutions for legal professionals, and enables us to focus on long-term growth opportunities in this core customer segment. - Binnenlands Bestuur will become part of Adfo Groep, owned by Sijthoff Media Groep, a Dutch media company that publishes trade and consumer focused titles. The other assets will be sold to B+B Vakmedianet, a Dutch publisher of business-to-business titles.
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Possible Nokia Bid for Alcatel Wireless Is ‘Credible’: Barclays 2013-10-14 06:57:40.179 GMT
By Sam Chambers Oct. 14 (Bloomberg) -- If Nokia were to buy Alcatel’s wireless business it would benefit both cos., while creating a tougher competitor for Ericsson, Barclays says in note. * Says ex-U.S., global telco rev., Ebitda are falling; placing significant pressure on operator capex * Says growth is likely to return in Europe, although it won’t be sufficient to offset pressure in Japan, other mkts in which network upgrades have been largely completed * Barclays cuts Ericsson to underweight due to potential downside from M&A, possible rev. disappointment * Keeps PT of SEK68; a 20% downside to current price * Raises Alcatel to overweight, PT by 143% to EU3.30; 20% upside * Raises Nokia to equalweight, PT by 82% to EU5; 2% upside * NOTE: Telco equipment relative value here * NOTE: Alcatel reports 3Q results on Oct. 31, Nokia reports 3Q on Oct. 29, Ericsson reports 3Q on Oct. 24
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: Sam Chambers in London at +44-20-7673-2021 or schambers7@bloomberg.net
To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net
Lundin Petroleum AB Announces the completion of wildcat well 6608/2-1S - The well was drilled in PL330 about 60 km east-southeast of the Aasta Hansteen gas field in the Norwegian Sea. - The exploration well 6608/2-1S, operated by RWE Dea Norge AS, was targeting the Sverdrup prospect. The well confirmed the existence of an active petroleum system but did not encounter reservoir rocks. The well is being plugged and abandoned as a dry hole. The well is the first exploration well in PL330.
Facebook Said to have acquired Tel Aviv-based Onavo - US financial press - The start-up firm (founded in 2010) has technology related to mobile application data.