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Wednesday, May 17, 2017

Australia's Wesfarmers pulls office unit's IPO amid Amazon jitters

SYDNEY (Reuters) - Australia's Wesfarmers Ltd canceled a potential $1.1 billion IPO of its office supplies unit, underscoring uncertainty in a retail sector hit by weak spending and the slated arrival of online shopping giant Amazon.com Inc .

Monte dei Paschi chairman says remains optimistic over bailout request

ROME (Reuters) - Monte dei Paschi's Chairman Alessandro Falciai said on Wednesday he remained optimistic over the outcome of the Italian bank's request for a state recapitalization needed to fill an 8.8 billion euro capital shortfall.

Shanghai Pharma says may submit rival bid for Germany's Stada

SHANGHAI (Reuters) - Shanghai Pharmaceutical Holding Co Ltd said it may bid for Stada Arzneimittel AG - a move that would pit it against buyout firms Bain and Cinven which have made a joint offer of nearly $6 billion for the German generics drugmaker.

Lloyds new era begins as government sells off final shares

LONDON (Reuters) - Britain has sold its last remaining stake in Lloyds Banking Group , making the lender the first to re-emerge from British state ownership in a symbolic step for the country's recovering banking sector.

Thyssenkrupp labor boss affirms opposition to Tata merger

DUESSELDORF, Germany (Reuters) - Tata Steel's latest pensions deal in Britain does not lessen Thyssenkrupp workers' opposition to a possible merger of the two companies' European steel operations, Thyssenkrupp's works council chief said.

Singapore's GIC sells Straumann stake, shares indicated lower

ZURICH (Reuters) - Singapore sovereign wealth fund GIC Private Limited has sold its roughly 3.4 percent stake in Straumann , the Swiss dental implant maker said on Wednesday.

Chinese insurer PICC Group plans $2 bln Shanghai share offering

HONG KONG (Reuters) - PICC Group, parent of the nation's biggest non-life insurer, said it plans to sell shares in mainland China as it seeks fresh funds to expand, in a deal valued at about $2 billion.

Israeli energy firms Delek Drilling, Avner Oil to finally merge

JERUSALEM (Reuters) - Israel's Delek Drilling and Avner Oil , both units of conglomerate Delek Group , said on Wednesday they have completed a long-awaited merger and will begin trading next week as one company.

Deutsche Boerse CEO says no big mergers on the cards for now

FRANKFURT (Reuters) - Big stock exchange mergers are currently off the table for German stock exchange operator Deutsche Boerse following a failed attempt to link up with London Stock Exchange , CEO Carsten Kengeter said on Wednesday.

Yahoo to buy back $3 billion shares in tender offer

(Reuters) - Yahoo Inc said on Tuesday it would buy back up to $3 billion shares through a tender offer to provide liquidity to stockholders looking to sell the stock ahead of the company's pending deal with Verizon Communications Inc.