It’s been at least a few weeks since the last major M&A rumor involving Lenovo (HKEx: 992), so it seems only appropriate that the acquisitive PC giant is back in the headlines with word of its latest bid for a major global asset. This time the target is the server business of global IT services giant IBM (NYSE: IBM). (English article) Such a move would certainly make sense for IBM, which continues its drive to exit the hardware manufacturing business after the landmark sale of its PC business to Lenovo back in 2005. I’m less certain about the wisdom of the move for Lenovo, although it’s certainly consistent with the company’s pattern of snapping up a steady stream of global hardware assets since the original IBM deal. Read Full Post…
The headlines are buzzing today with news that Yahoo (Nasdaq: YHOO) will formally close its China-based email service, in the latest sign that the company may soon withdraw from China completely. Such a move wouldn’t come as a big surprise, since Yahoo’s recently named new CEO has been making some major changes in a bid to revive the struggling former Internet pioneer. One of those moves is likely to see Yahoo withdraw from many of its secondary markets to focus on its core operations in the US. Read Full Post…
My first reaction to reading the news that mobile carrier China Mobile (HKEx: 941) had formally scrapped a 4-year-old plan to buy a stake in Taiwanese peer Far EasTone (Taipei: 4904) was: What took them so long? In fact, I wasn’t even aware that China Mobile still even considered this tie-up alive, as the deal attracted controversy from the moment the 2 sides announced it in 2009. This formal scrapping of the deal does seem to represent a milestone of sorts, as it shows that we won’t see any M&A in the sensitive telecoms sectors across the Taiwan Strait anytime soon despite ever warming ties between China and Taiwan. Read Full Post…
The following press releases and media reports about Chinese companies were carried on April 19. To view a full article or story, click on the link next to the headline.
══════════════════════════════════════════════════════
IBM (NYSE: IBM) In Talks To Sell x86 Server Business To Lenovo (HKEx: 992) (English article)
Yahoo (Nasdaq: YHOO) China To Halt Email Box Service On August 19 (Chinese article)
China Mobile (HKEx: 941) Ends Agreement With FarEastone (Taipei: 4904) (HKEx announcement)
A restructuring storm continues to blow through China’s battered solar sector, with word of a potential major asset sale by Suntech (NYSE: STP) and a debt default by LDK (NYSE: LDK). Of these 2 news bits, the Suntech one is easily the most interesting as it finally helps to make sense of reports last week that billionaire investor Warren Buffett might want to buy the former solar superstar that last month declared bankruptcy. But Suntech investors will be disappointed to learn the latest reports don’t seem to include a major cash infusion from Buffett, who isn’t really known for investing in such troubled assets. Read Full Post…
The following press releases and media reports about Chinese companies were carried on April 18. To view a full article or story, click on the link next to the headline.
══════════════════════════════════════════════════════
LightInTheBox Applies For NYSE IPO To Raise Up To $86 Mln (Chinese article)
PBoC May Issue Payment License to Tencent (HKEx: 700) WeChat (English article)
China CITIC Bank (HKEx: 998), MasterCard Sign Strategic Cooperation MOU (Businesswire)
Glencore (London: GLEN) Clinches Chinese Approval With Copper Deal (English article)
China Auto Rental Receives Hertz (NYSE: HTZ) Investment, May Restart IPO (Chinese article)
After nearly half a year of inactivity, signs of a spring for China IPOs in New York are finally appearing with the first public filing by an online retailer named LightInTheBox. At the same time, auto rental specialist China Auto Rental has just formed an important new tie-up with global peer Hertz (NYSE: HTZ), leading media to speculate the company could soon restart its IPO that it aborted more than a year ago due to weak market sentiment. I have to say that both of these potential IPOs caught me a bit by surprise, as neither was the kind of exciting deal I was looking for to rekindle interest in the moribund market for new Chinese listings. Read Full Post…
It seems slightly strange to be writing this week on something as frivolous as flower festivals when Shanghai is at the heart of what could become a major outbreak of H7N9 bird flu with the potential to go global . But that said, many readers may welcome such a diversion to the daily reports on all the latest cases, alongside related reports about the closure of live bird markets and other affected businesses. Read Full Post…
Following its landmark purchase of a major US theater chain last year, real estate giant Wanda has embarked on a spending spree to upgrade its new facilities with a major new deal to buy state-of-the-art sound systems from Dolby (NYSE: DLB). The move is the latest in a steady stream of big announcements over the last year that has suddenly thrust one of China’s top real estate companies onto the global stage, as it looks to become one of the world’s biggest theater chain operators. Read Full Post…
We’re seeing some interesting new moves in the smartphone space from e-commerce leader Alibaba and dominant carrier China Mobile, as each makes big new bets in the fast-evolving area. Alibaba is launching its mobile operating system (OS) on a new series of smartphones with several Chinese partners, following a similar aborted attempt last year. China Mobile, meanwhile, is planning a major overhaul for its popular but rapidly aging Fetion mobile messaging service, in an attempt to compete with newer, more popular third-party apps like Tencent’s (HKEx: 700) WeChat. Read Full Post…
The following press releases and media reports about Chinese companies were carried on April 17. To view a full article or story, click on the link next to the headline.
══════════════════════════════════════════════════════
China Mobile (HKEx: 941) Restructures Fetion Mobile Messaging Service (Chinese article)
