Wang Jianlin is offering his property firm’s Hong Kong investors a stingy 10 pct premium to the IPO price 17 months ago. The Chinese tycoon will pocket better returns if it relists on the mainland. Yet while minority investors have reason to hold out, doing so would be risky.
Yusuf Alireza is leaving the embattled commodity trader after four years in charge. Though Noble has avoided an immediate liquidity crisis, investors still question its long-term viability. Flogging its U.S. energy arm will raise cash at the expense of further shrinkage.
Shinzo Abe’s plan to revitalise Japan needs a boost. The PM didn’t get as much backing as he might have liked from hosting the club of rich nations. But he may just about be able to spin the summit statement as an endorsement of fiscal stimulus and a tax standstill.
The tech giant is a trailblazer for Chinese firms going global by doing deals overseas and adopting Western governance. The ill-judged takeover of Motorola’s old mobile business is testing that reputation. Absent a quick turnaround, Lenovo’s credibility will take a real dent.
The country’s mobile phone duopoly will jointly pay $1.5 bln for San Miguel’s telecom assets after the conglomerate’s effort to set up a new operator failed. From Thailand to India, new entrants are trying to take on big players. Access to capital and knowhow decides who wins.
The Chinese machinery-maker has walked away from a bid for U.S. rival Terex. After other high-profile failed deals, this further dents the prospects for other mainland bidders eyeing Western targets. At least Zoomlion’s own finances will be a bit more robust.
New data shows use of the Chinese currency for global payments is declining and has fallen behind the Canadian dollar. China’s plans to internationalise the yuan are at odds with capital controls. Pressure on the yuan makes this a tricky time to liberalise the currency regime.