The following press releases and media reports about Chinese companies were carried on November 7. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
Yihaodian Makes Executive Adjustments As Walmart (NYSE: WMT) Team Enters (Chinese article)
Legislator in Canada’s Ruling Party Blasts CNOOC (HKEx: 883) Bid for Nexen (English article)
The following press releases and media reports about Chinese companies were carried on November 1. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
eBay (Nasdaq: EBAY) to Re-enter China B2C Market With Xiu.com – Source (Chinese article)
New Extension Likely For CNOOC (HKEx: 883) Nexen (Toronto: NXY) Review – Sources (English article)
HiSoft (Nasdaq: HSFT) Reaffirms Q3 and Full Year 2012 Guidance (PRNewswire)
Jingdong Mall, LeTV (Shenzhen: 300104) Partner on Video Shopping (English article)
Sohu (Nasdaq: SOHU) Video CEO Denies Timetable For IPO (Chinese article)
A couple of major overseas moves are in the headlines today, spotlighting the fact that Chinese firms are becoming increasingly adept at relatively simple resource deals, even as they still lack sophistication to do M&A in other, more complex sectors. In the former category, oil major PetroChina (HKEx: 857; Shanghai: 601857; NYSE: PTR) has reached a deal to co-develop a $3 billion oil pipeline in Canada with a local partner, in the largest project of its kind by a Chinese firm to date. In the latter, a white-knight rescue bid by a relatively obscure Chinese firm for bankrupt plane maker Hawker Beechcraft has collapsed, leaving the US company no choice but to work out a reorganization plan with its creditors.
Oil major CNOOC (HKEx: 883; NYSE: CEO) has just released its latest quarter results that look generally upbeat, but media have predictably focused instead on the company’s pending $15 billion bid for Nexen (Toronto: NXY) which is still awaiting approval by the Canadian government. Since everyone else is guessing on whether Ottawa will ultimately approve this deal, I’ll go ahead and add my name to the list and predict the deal will get approved when Canada announces its decision next month. But there’s one caveat to my prediction, namely that Beijing will need to give some kind of signal — the more openly, the better — that it is willing to give Canadian companies similar access to the Chinese market where state-run firms currently dominate the resources sector.
The following press releases and media reports about Chinese companies were carried on October 25. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
Huawei Says US ‘Distorted’ Concern, Offers Australia Codes (English article)
Apple (Nasdaq: AAPL) Launches iPad Mini, China Launch Unknown (English article)
The following press releases and media reports about Chinese companies were carried on October 23. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
An increasingly xenophobic West will face an important test in the next 30 days as Canada weighs whether to approve the $15 billion purchase of local oil exploration giant Nexen (Toronto: NXY) by Chinese rival CNOOC (HKEx: 883; NYSE: CEO). The deal could well become an important indicator of the West’s willingness to accept China as an equal partner in the global economy, and its approval would send a positive signal after a more controversial decision last week that saw two of China’s leading technology firms locked out of the US telecoms equipment market due to security concerns.
The following press releases and media reports about Chinese companies were carried on October 12. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
Lenovo (HKEx: 992) Knocks HP (NYSE: HPQ) From Top of Global PC Market: Gartner (English article)
Hasbro (Nasdaq: HAS) and Alpha Animation Announce Strategic Partnership for China (Businesswire)
US Prepares to Launch 2nd Round of Investigations Into Huawei, ZTE (HKEx: 763) (Chinese article)
Suntech (NYSE: STP) Responds to Final US Dept of Commerce Determination (PRNewswire)
Ex-Central Banker Says Canada Should Approve CNOOC (HKEX: 883) Bid for Nexen (English article)
The following press releases and media reports about Chinese companies were carried on September 28. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
BYD (HKEx: 1211) in New Jam as Founder Jumps (English article)
CNOOC (HKEx: 883) Confident on Nexen (Toronto: NXY) Deal After Canada Talks (English article)
China Mobile (HKEx: 941) to Start TD-LTE Terminal Procurement (English article)
Hollywood Supports Taobao Removal From Black List, Apparel Makers Oppose (Chinese article)
Nike’s (NYSE: NKE) Earnings And China Orders Fall (English article)
Oil exploration giant CNOOC’s (HKEx: 883) record-breaking bid for Canadian rival Nexen (Toronto: NXY) has cleared one hurdle with the Thursday approval of the deal by Nexen shareholders, even as a much bigger obstacle looms in the realm of public opinion where opposition appears to be building. Public opinion could be a major factor that ultimately decides the fate of this deal, which still needs approval from a Canadian administration that has said it will consider national sentiment before making its final decision.
The following press releases and media reports about Chinese companies were carried on September 6. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
Lenovo (HKEx: 992) to Buy Brazilian Electronics Company CCE (HKEx announcement)
State Planner: Consumer Fraud Involved in Online Price Wars (Chinese article)
A couple of major overseas moves are in the headlines today, spotlighting the fact that Chinese firms are becoming increasingly adept at relatively simple resource deals, even as they still lack sophistication to do M&A in other, more complex sectors. In the former category, oil major PetroChina (HKEx: 857; Shanghai: 601857; NYSE: PTR) has reached a deal to co-develop a $3 billion oil pipeline in Canada with a local partner, in the largest project of its kind by a Chinese firm to date. In the latter, a white-knight rescue bid by a relatively obscure Chinese firm for bankrupt plane maker Hawker Beechcraft has collapsed, leaving the US company no choice but to work out a reorganization plan with its creditors.
Oil major CNOOC (HKEx: 883; NYSE: CEO) has just released its latest quarter results that look generally upbeat, but media have predictably focused instead on the company’s pending $15 billion bid for Nexen (Toronto: NXY) which is still awaiting approval by the Canadian government. Since everyone else is guessing on whether Ottawa will ultimately approve this deal, I’ll go ahead and add my name to the list and predict the deal will get approved when Canada announces its decision next month. But there’s one caveat to my prediction, namely that Beijing will need to give some kind of signal — the more openly, the better — that it is willing to give Canadian companies similar access to the Chinese market where state-run firms currently dominate the resources sector.
An increasingly xenophobic West will face an important test in the next 30 days as Canada weighs whether to approve the $15 billion purchase of local oil exploration giant Nexen (Toronto: NXY) by Chinese rival CNOOC (HKEx: 883; NYSE: CEO). The deal could well become an important indicator of the West’s willingness to accept China as an equal partner in the global economy, and its approval would send a positive signal after a more controversial decision last week that saw two of China’s leading technology firms locked out of the US telecoms equipment market due to security concerns.
