>>> Cinda (1359 HK) : biggest HK IPO this Year - what you need to know...

China Cinda Asset Management Co., a state-backed company that gobbles up bad loans from China’s financial system, Thursday priced its initial public offering at the top of its price range, at HK$3.58 a share, to raise US$2.5 billion.
Here’s a quick primer on one of the oddest – but also hottest — IPOs of the year.
>>> Cinda is the only way foreign investors can access China’s bad loans.
One of four debt-clearing agencies launched by the government to clean up big banks, Cinda is the first bad debt asset manager in China to go public. It was created in 1999 to take non-performing loans off China Construction Bank Corp.601939.SH -0.45%’s balance sheet.
Cinda buys bad debt from banks at a discount and converts it into equity stakes in companies such a real estate developers and coal miners. It also restructures overdue accounts receivable from non-financial firms for a fee, and has insurance, leasing and brokerage operations.
The argument is that if you believe the Chinese economy is slowing and NPLs are on the rise, Cinda is a good countercyclical investment.
>>> It is the biggest IPO this year in Hong Kong.
At $2.5 billion, Cinda’s IPO tops Sinopec Engineering (Group) Co. Ltd.’s $1.8 billion listing in May to become the city’s largest this year. Including Qinhuangdao Port Co., which also priced Thursday and raised $561 million, the volume of IPOs in Hong Kong this year is about $15.6 billion, Dealogic data show.
That puts it well ahead of Australia, which ranks fifth in global new listings volume, with $9.4 billion raised in 2013 in a surprisingly busy year for IPOs. NasdaqNDAQ +2.36%and London, where almost $18 billion has been raised, are second and third, and the New York Stock Exchange stands far ahead of the pack with $40.4 billion raised.
>>> Cinda has huge investor backing.
UBS AGUBSN.VX +0.48%, Standard CharteredSTAN.LN -6.46% PLC, Citic Group’s private-equity unit and China’s national pension fund all already invested in Cinda, which is majority-owned by China’s Ministry of Finance, in 2012. The IPO has attracted a host of huge global investors who signed up as cornerstones, including Och-Ziff Capital Management Group LLC, Farallon Capital Management LLC, Oaktree Capital GroupLLCOAK -0.25% and Norges Bank. Distressed-debt specialist Oaktree is also planning to set up a joint venture with Cinda to invest in distressed assets in China.
>>> The IPO is very, very popular.
The IPO received $65 billion in orders, with books closing a day earlier than the originally scheduled date. Of those orders, $45 billion came from institutional investors.
Retail investors haven’t been deterred by the complexity and opacity of Cinda’s business model. The retail tranche of the IPO was 160 times oversubscribed. Cinda said if the retail tranche was more than 100 times oversubscribed it would allot 20% of the total offer to retail investors, from the initial 5%.
“I think pretty much everyone here subscribed to the IPO,” Arthur Lui, senior sales manager at Prudential Brokerage in Hong Kong, said as he gestured at dozens of middle- and old-aged day traders closely watching computer screens. “But Hong Kong investors like to speculate. Cinda isn’t a long-term play for them.”
>>> Cinda has a market value of $16.3 billion.
Valuing a distressed asset company isn’t straightforward. When Cinda was sold to the four big investors last year, it was valued at around $10.3 billion. Later, BOC International, one of the underwriters on Cinda’s IPO, valued the company at up to $20.4 billion in pre-IPO research. But it wasn’t clear how its debt was valued. Post-IPO, Cinda is valued at $16.3 billion.
Cinda doesn’t really have any close peers for comparisons, but Oaktree, for example, raised $380 million in its New York IPO last year and now trades at about five-times forecast 2013 book value, according to FactSet data. It has a market value of around $8.4 billion.

WSJ : Volcker Rule Won't Allow Banks to Use 'Portfolio Hedging'

Link to article :{http://on.wsj.com/IFlRrr}

In a defeat for Wall Street, the "Volcker rule" won't allow banks to enter trades designed to protect against losses held in a broad portfolio of assets, according to people familiar with the rule.
The practice, known as portfolio hedging, has become a focal point of regulators drafting the rule, a controversial plank of the 2010 Dodd-Frank financial law that seeks to prevent banks from putting their own capital at risk in pursuit of trading profits.
The rule, named after former Federal Reserve Chairman Paul Volcker, is expected to be approved next week, ending a three-year period of regulatory uncertainty for some of the securities industry's most-profitable businesses.
But it won't contain language permitting portfolio hedging, which has been "expunged" from earlier drafts of the rule, according to a person familiar with the matter. Regulators decided to remove portfolio hedging from the rule after J.P. Morgan Chase JPM +0.58% & Co. disclosed billions of dollars in losses from its so-called London whale trades in 2012.
The bank initially described the trades as a portfolio hedge. Now, it is likely other Wall Street firms also will end up paying for J.P. Morgan's slip-up. Regulators, in response to the J.P. Morgan disclosure, pushed to write a rule that would ensure banks couldn't engage in such trades.
The move will come as a blow to banks, which lobbied regulators to keep language allowing portfolio hedging in the rule. Banks often hedge to offset the risks that accompany trading with clients. Sometimes, though, there is no perfect counterweight to those clients' trades. Banks look to portfolio hedging to manage a broader array of risks.
A recent version of the Volcker rule, reviewed by The Wall Street Journal, defined hedging activity as "designed to reduce or otherwise significantly mitigate…one or more identifiable risks."
What hedges don't do, regulators wrote, is "give rise…to any significant new or additional risk that is not itself hedged contemporaneously." The excerpt reviewed by the Journal didn't mention portfolio hedging.

Portfolio hedging has drawn the ire of critics who say it opens a gaping loophole banks can use to make big market wagers. The proposal for the Volcker rule released in November 2011 said it would permit "the hedging of risks on a portfolio basis."
Critics said that opened the door for banks to make all manner of bets on the market because a bank might define the risk to its portfolio broadly, such as the risk of a U.S. recession.
Sens. Jeff Merkley (D., Ore.) and Carl Levin (D., Mich.), architects of the rule in Congress, wrote a letter to regulators slamming portfolio hedging as a loophole "big enough to drive a 'London Whale' through." Regulators, in response, say they have worked to make sure the Volcker rule wouldn't permit trading activity that led to the London whale losses.
Banks view portfolio hedging as an important tool in the way they manage trading risks. J.P. Morgan Chief Executive James Dimon said in June that he thinks banks "need to be allowed to portfolio hedge."
"My attitude on portfolio hedge would be if you look at what we did in the whale, we made a mistake," he said. "It was portfolio hedging badly done."
Regulators still are putting the finishing touches on the rule as they prepare to vote. Commissioners at the Commodity Futures Trading Commission received a new version of the rule Tuesday night. Staffers are combing the rule for typos and spelling errors.
In the past few weeks, regulators have been hammering out details such as how the rule should apply to trades executed overseas and which kind of funds banks can invest in, in addition to complex hedging restrictions, say people familiar with the talks.
The Securities and Exchange Commission, meanwhile, will vote on the rule Dec. 10 in "seriatim," in which commissioners vote on a rule outside of a public meeting.
While the agencies will breathe a sigh of relief after finishing the rule, for bank executives and their traders, the five government agencies' adoption of the rule may provide little closure.
Banks will have to interpret what those new rules mean and how they can ensure they remain in compliance.
"Volcker has morphed a bit, thanks to the Whale," UBS AG UBSN.VX +0.48% analyst Brennan Hawken said. "Now a big component of it has become about hedging. What can you hedge, and what can't you? It's really unclear."
Banks have been mum in recent days about the impact of the rule until they see the final product being voted upon.
But Bill Lockyer, California state treasurer, said Wednesday that he is concerned that state borrowing costs could rise because of the rule. If banks "don't make a profit…from leverage or proprietary trading, they have to make a profit [another] way," Mr. Lockyer said. "Borrowing costs may increase. It's what their fee is on a deal."
A strict interpretation of Volcker "would dry up liquidity," or make it more difficult for investors to trade, said Peter Tchir, founder of hedge-fund advisory firm TF Market Advisors.

(BFW) Drax Potential as M&A Target Boosted on Final Strike Price: UBS

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Drax Potential as M&A Target Boosted on Final Strike Price: UBS 2013-12-05 07:24:24.367 GMT

By Nadine Skoczylas Dec. 5 (Bloomberg) -- Increased rev. confidence, debt carrying capacity after U.K. Treasury yday confirmed final strike prices for biomass conversion at GBP105/MWh increase probability Drax could become M&A target, UBS writes in note. * Drax’s U.K. high thermal efficiency should let co. get returns nearer 20% from biomass vs sub-10% for avg developer: UBS * Sees possibility for 4th unit at its coal-fired plant to be converted to burn biomass as “highly likely” * 1,220p “blue sky valuation” if 6 units converted * NOTE: U.K. published a list of final strike prices for biomass and electricity from renewables in its national infrastructure plan yday * Confirmed draft proposal first announced in June of GBP105/MWh, that was ahead of analyst ests. at the time * NOTE yday: Drax also said U.K. confirmed both of co.’s two remaining units to be converted meet eligibility for early Contracts for Difference program

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

--Editor: Andrew Rummer

To contact the reporter on this story: Nadine Skoczylas in Jerusalem at +972-2-640-1103 or nelsibai@bloomberg.net

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

*MCKESSON OFFERS EU23/SHR FOR CELESIO (closed @23.655 yest)

*MCKESSON: TENDER OFFERS FOR CELESIO BONDS AT EU53,117.78/BOND *MCKESSON: OFFER PRICE OF €23 PER CELESIO SHR IN CASH *MCKESSON: CELESIO OFFER PRICE REPRESENTS 39% PREMIUM (vs 06/10/2013) *MCKESSON: TENDER OFFERS FOR CELESIO’S OUTSTANDING CONV BONDS *MCKESSON: TENDER OFFERS FOR CELESIO BONDS AT EU53,117.78/BOND *MCKESSON: CELESIO BONDS AT EU53,117.78 EACH FOR BOND DUE '14 *MCKESSON: OFFER AT EU120,798.32/CELESIO BOND FOR BONDS DUE '18

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BFW 12/05 07:20 *MCKESSON: CELESIO BONDS AT EU53,117.78 EACH FOR BOND DUE ’14 BN 12/05 07:19 *MCKESSON: TENDER OFFERS FOR CELESIO TO END JAN. 9 BN 12/05 07:19 *MCKESSON: OFFER AT EU120,798.32/CELESIO BOND FOR BONDS DUE '18 BN 12/05 07:18 *MCKESSON: CELESIO BONDS AT EU53,117.78 EACH FOR BOND DUE '14 BN 12/05 07:17 *MCKESSON: TENDER OFFERS FOR CELESIO BONDS AT EU53,117.78/BOND BFW 12/05 07:16 *MCKESSON OFFERS EU23/SHR FOR CELESIO BN 12/05 07:16 *MCKESSON SAYS CELESIO HOLDERS CAN TENDER SHRS UNTIL JAN. 9 BN 12/05 07:16 *MCKESSON: TENDER OFFERS FOR CELESIO’S OUTSTANDING CONV BONDS BN 12/05 07:16 *MCKESSON ACCEPTANCE PERIOD WILL END ON JAN. 9 BN 12/05 07:15 *MCKESSON: CELESIO OFFER PRICE REPRESENTS 39% PREMIUM BN 12/05 07:15 *MCKESSON TENDER OFFERS FOR CELESIO’S OUTSTANDING CONV BONDS BN 12/05 07:15 *MCKESSON PARALLEL TENDER OFFERS FOR CELESIO’S CONV 2014 BONDS BN 12/05 07:15 *MCKESSON: OFFER PRICE OF €23 PER CELESIO SHR IN CASH BN 12/05 07:15 *MCKESSON OFFER PRICE OF €23 PER CELESIO SHR IN CASH. BN 12/05 07:15 *MCKESSON UNVEILS CELESIO OFFER AT €23 PER CELESIO SHR IN CASH. BN 12/05 07:15 *MCKESSON UNVEILS PUBLIC TAKEOVER OFFER FOR CELESIO BN 12/05 07:15 *MCKESSON LAUNCHES PUBLIC TAKEOVER OFFER FOR CELESIO

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McKesson Launches Public Takeover Offer for Celesio 2013-12-05 07:15:00.203 GMT

McKesson Launches Public Takeover Offer for Celesio

* Shareholders of Celesio AG (“Celesio”) can tender their shares from today until January 9, 2014. * Offer price of €23 per Celesio share in cash. * The offer price represents a premium of 39 percent to the volume weighted average share price of Celesio during the three-month period ended October 7, 2013, which was the last undisturbed trading day before news articles were published suggesting a transaction between McKesson Corporation (“McKesson”) and Celesio. * Parallel tender offers for Celesio’s convertible bonds due 2014 and convertible bonds due 2018 were simultaneously launched by McKesson.

Business Wire

SAN FRANCISCO & FRANKFURT, Germany -- December 5, 2013

McKesson Corporation (NYSE:MCK), a leading North American healthcare services and information technology company, announced today that McKesson has launched the voluntary public takeover offer for the outstanding shares of Celesio (“Takeover Offer”) and tender offers for the outstanding convertible bonds of Celesio (“Tender Offers”) through its indirect wholly-owned subsidiary Dragonfly GmbH & Co. KGaA, in connection with the announcement on October 24, 2013 of McKesson’s agreement to acquire Celesio.

The publication of the offer document for the Takeover Offer has been approved by the Bundesanstalt für Finanzdienstleistungsaufsicht and is now available on www.GlobalHealthcareLeader.com in German and in an English translation. Celesio shareholders can now accept the Takeover Offer and tender their shares in Celesio at the offer price of €23 per share. The acceptance period will end on January 9, 2014 at 24:00 (CET) / 18:00 (EST).

In parallel to the Takeover Offer, McKesson launched the Tender Offers for Celesio’s outstanding convertible bonds at a price corresponding to the value of the underlying shares implied by a €23 per share offer price, which equals €53,117.78 per bond for Celesio’s convertible bond due 2014 (principal amount of €50,000) and €120,798.32 per bond for Celesio’s convertible bond due 2018 (principal amount of €100,000). The acceptance period for the Tender Offers will also end on January 9, 2014 at 24:00 (CET) / 18:00 (EST). The offer document for the Tender Offers is also available on www.GlobalHealthcareLeader.com in German and in an English translation.

About McKesson Corporation

McKesson Corporation, currently ranked 14^th on the FORTUNE 500, is a healthcare services and information technology company dedicated to making the business of healthcare run better. McKesson partners with payers, hospitals, physician offices, pharmacies, pharmaceutical companies and others across the spectrum of care to build healthier organizations that deliver better care to patients in every setting. McKesson helps its customers improve their financial, operational, and clinical performance with solutions that include pharmaceutical and medical-surgical supply management, healthcare information technology, and business and clinical services. For more information, visit www.mckesson.com.

THIS PRESS RELEASE IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

The Takeover Offer and the Tender Offers will be subject to the full terms and conditions to be set out in the respective offer document.

Disclaimer

This press release is for information purposes only and does not constitute an invitation to make an offer to sell Celesio shares. This announcement does not constitute an offer to purchase Celesio shares and is not for the purposes of McKesson making any representations or entering into any other binding legal commitments.

The offers to purchase Celesio shares (“Takeover Offer”) and convertible bonds (“Tender Offers” and together with the Takeover Offer, the “Offers”) are solely made by the respective offer document published by Dragonfly GmbH & Co. KGaA (“Dragonfly”), an indirect wholly-owned subsidiary of McKesson Corporation (“McKesson”), on December 5, 2013 and is exclusively subject to such offer document’s terms and conditions. The terms and conditions contained in such offer document may differ from the general information described in this press release.

Investors and holders of the shares or convertible bonds of Celesio are strongly advised to read the relevant documents regarding the Takeover Offer and the Tender Offers because they contain important information. Investors and holders of the shares or convertible bonds of Celesio can obtain these documents at the website http://www.GlobalHealthcareLeader.com. The Tender Offers are not subject to the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz, (“WpÜG”)) and have not been reviewed by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht (“BaFin”)).

Holders of the shares or convertible bonds of Celesio are strongly recommended to seek independent advice in order to reach an informed decision in respect of the content of the offer documents and with regard to the Takeover Offer or the Tender Offers.

The Offers are issued exclusively under the laws of the Federal Republic of Germany (“Germany”), the Takeover Offer especially under the WpÜG and the Regulation on the Content of the Offer Document, Consideration for Takeover Offers and Mandatory Offers and the Release from the Obligation to Publish and Issue an Offer, and certain applicable provisions of the securities laws of the United States of America (“United States”). The Offers will not be executed according to the provisions of jurisdictions (including the jurisdictions of Australia and Japan) other than those of the Germany and certain applicable provisions of securities laws of the United States. Thus, no other announcements, registrations, admissions or approvals of the Offers outside Germany have been or will be filed, arranged for or granted. The holders of the shares of or convertible bonds of Celesio cannot rely on having recourse to provisions for the protection of investors in any jurisdiction other than such provisions of Germany. Any contract that will be concluded on the basis of the Offers will be exclusively governed by the laws of Germany and will to be interpreted in accordance with such laws.

Neither McKesson nor any persons acting in concert with McKesson within the meaning of Section 2 para 5 of the WpÜG have authorized the publication, sending, distribution, or dissemination of this press release or any other document associated with the Offers by third parties outside Germany, the United States and Canada. Neither McKesson nor persons acting in concert with McKesson within the meaning of Section 2 para. 5 of the WpÜG are in any way responsible for the compliance of the publication, sending, distribution or dissemination of this press release or any other document associated with the Offers by a third party outside of Germany, the United States and Canada to any jurisdiction with legal provisions other than those of Germany, the United States and Canada.

The publication, sending, distribution or dissemination of this press release in certain jurisdictions other than Germany, the United States and Canada may be governed by laws of jurisdictions other than Germany, the United States and Canada in which the publication, sending, distribution or dissemination are subject to legal restrictions. Persons who are not resident in Germany, the United States or Canada or who are for other reasons subject to the laws of other jurisdictions should inform themselves of, and observe, the laws of such other jurisdictions.

This press release is not for release, publication or distribution, in whole or in part, in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.

If you are a resident of the United States, please read the following:

The Offers are being made for the securities of a non-U.S. company and will be subject to the disclosure and procedural laws, standards and practices of jurisdictions other than the U.S., although the Offers are made in reliance on, and compliance with, Section 14(e) of the Exchange Act and Regulation 14E thereunder, as exempted thereunder by Rule 14d-1(c).

In accordance with the Offers, McKesson, Dragonfly, certain affiliated companies and their respective nominees or brokers (acting as agents) may make certain purchases of, or arrangements to purchase, Celesio shares or convertible bonds outside the Offers during the period in which the Offers remain open for acceptance. If such purchases or arrangements to purchase are made, they will be made outside the United States and will comply with applicable law, including the Exchange Act.

Contact:

McKesson Corporate Contacts: Investors and Financial Media: Erin Lampert, +1 415-983-8391 Erin.Lampert@McKesson.com or General and Business Media: Kris Fortner, +1 415-983-8352 Kris.Fortner@McKesson.com

-0- Dec/05/2013 07:15 GMT

(BFW) Siemens CEO Sees 2014 EPS Rising By At Least 15%, Expansion Says

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Siemens CEO Sees 2014 EPS Rising By At Least 15%, Expansion Says 2013-12-05 07:11:36.901 GMT

By Angeline Benoit Dec. 5 (Bloomberg) -- Siemens to return to growth next year, Expansion reports, citing interview with CEO Josef Kaeser.

Link to Newspaper Website:{http://www.expansion.com}

Link to Company News:{SIE GR <Equity> CN <GO>}

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

To contact the reporter on this story: Angeline Benoit in Madrid at +34-91-700-9617 or abenoit4@bloomberg.net

To contact the editor responsible for this story: Angeline Benoit at +34-91-700-9617 or abenoit4@bloomberg.net

>>> Brokers Ups & Downs

>>> Up
*DRAX RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*VEDANTA RAISED TO SECTOR PERFORM AT RBC CAPITAL

>>> Down
*AKER SOLUTIONS CUT TO NEUTRAL VS BUY AT CITI
*ALKERMES CUT TO NEUTRAL VS BUY AT UBS
*CAT OIL CUT TO NEUTRAL VS BUY AT BOFAML
*DEUTSCHE WOHNEN CUT TO UNDERWEIGHT VS NEUTRAL AT HSBC
*ELISA CUT TO UNDERPERFORM VS NEUTRAL AT BOFAML
*SAINT-GOBAIN CUT TO NEUTRAL VS BUY AT BOFAML
*TALKTALK CUT TO HOLD FROM BUY AT JEFFERIES

>>> PT Changes


>>> Initiations
*DCC RATED NEW BUY AT UBS, PT 3,300P
*LEG IMMOBILIEN RATED NEW NEUTRAL AT HSBC, PT EU48

>>> Country Sector Stock Call

** Stocks :
*DRAX ADDED TO UBS’ MOST PREFERRED LIST
*EDF REMOVED FROM UBS’S MOST PREFERRED LIST

>>> What to look at today

US MArket closed near to the flat line after a volatile day...Selling pressure in Europe and better Eco data pushed investors to lock some profits...Volume : 756mil sh., just above average...VIX @ 14.70 +1.03%...GGP (not Facebook, as speculated) replaces Molex in SP500; GGP rises 3.5%,
Facebook falls 1.5% in extended session...Fed Beige Book: ‘Modest to Moderate’ Growth in Oct. to Mid-Nov...WSJ reported that China Mobile and Apple reached a final agreement on iPhone distribution before separate reports indicated talks are still ongoing with nothing definitive to announce....PBoC skips a Thursday money market operation for the first time in 3 weeks;
Also marks the biggest net drain of liquidity in 7 weeks (Daily Shibor fixings: O/N: 3.7030 % v 3.7235% prior (3rd consecutive decline); 1-week: 4.5580 % v 4.5770% prior (2nd consecutive decline)...Australia trade remains in deficit....Nikkei-1.5%...Shanghai -0.10%.

Eur$ 1.3625 S&P fut -0.10% European fut -0.30%

>>> Keep an eye on
- BANKS : Volcker Rule Won’t Allow Portfolio Hedging for Banks, Provision won’t allow banks to enter trades designed to protect against losses held in a broad portfolio of assets, Rule seeks to prevent banks from putting their own capital at risk in pursuit of trading profits. WSJ said
- AFX GY : Carl Zeiss FY Ebit, Sales Beat Ests; Sees 2015 Ebit Margin 15%
- ALRS RM : Alrosa 3Q Net Income Attributable Falls 5.2% to RU8.2B Y/y
- APPLUS : Carlyle Picks MS, UBS to Oversee IPO of Spain’s Applus+: Reuters
- ATLN VX : Actelion to Buy Back Up to 10m Shares or 8.31% Stake in 3 Years
- AZEM LN : Merck offers 403.5P/sh AZ ELECTRONIC MATERIALS, 53.48% Premium, value the company at £1.6b
- BDT GY : Bertelsmann Said Interested in Callcredit Buy: Sky Link
- BLT LN : BHP May Give New Capex, Output Outlook on Shale: JPM
- BNP FP : RABOBANK AGREES TO SELL BGZ TO BNP PARIBAS FOR ABOUT EU1 BLN
- DSY FP : Dassault Systemes to Buy 84% of Germany’s Realtime Technology
- DBK GY :Japan SESC Recommends Penalty Against Deutsche Securities
- EDF FP : EDF, Gazprom Are Candidates for E.ON’s Italy Assets: Les Echos
- FCC SM : Koplowitz Hiring Adviser to Sell FCC Stake, Expansion Says
- GE1 GY : Generali Deutschland Holding's minority shareholders approve squeeze-out by Assicurazioni Generali
- HPL GR : Hapag-Lloyd Confirms Talks With Chile CSAV on Combination
- ILD FP : French ministers asking questions about New 4G offer
- IMT LN : Imperial Tobacco Carve-Up May Lower Execution Risk, Nomura Says
- KER FP : Kering to Invest Hundreds of Million Euros in La Redoute: Figaro
- MONCLER : Moncler Says No Decision on Dividend Policy
- NOVOB DC : Novo Aims to Raise U.S. Market Share to Global Level: Borsen
- PVA SM : Pescanova Sells 50% Stake in Australian Unit for EU29.5m
- RNO FP : Dongfeng Motor, Renault 7.76b Yuan Venture Gets NDRC Approval
- REP SM : Repsol Delegation Travels to Argentina for YPF Talks: EFE Link
- R1T GY : Dassault Systemes to Buy 84% of Germany’s Realtime Technology
- SAA1V FH : John de Mol Proposes to Buy Sanoma’s Stake in SBS for EU373m: FD
- SOI FP : *SOITEC TO GET GOVT SUPPORT OF EU21.3M
- SW1 GY : Deutsche Boerse Says SHW AG to Be Included in SDAX
- UG FP : Peugeot-GM Purchasing Accord Prompts Supplier Protest: Les Echos
- VERSACE : Versace Stake’s Highest Bidder Is Italy’s FSI Fund: FT
- VIE FP : Veolia Plans to Sell Sade Water-Network Unit, Les Echos Says
- VOD LN : VODAFONE: VERIZON RECEIVED REQUIRED APPROVAL FROM THE U.S FCC
- VOLVB SS : China Becomes Volvo Cars’ Largest Market in November, DI Says
- MF FP : Wendel in Exclusive Talks to Sell Kerneos to Astorg; NAV Gains
- ZURN VX : Zurich Insurance Cuts ROE Target to 12%-14% From 16%