ZURICH (Reuters) – Liberty Global has been successful in its 6.8 billion Swiss franc ($8.74 billion) attempt to buy Switzerland’s Sunrise Communications after the all-cash offer was accepted by nearly 82% of the target’s shareholders.
Liberty Global, set up by U.S. cable pioneer John Malone, offered 110 Swiss francs per share of Sunrise, Switzerland’s second-biggest telecoms company, in a surprise deal in August.
The approach was a reversal of Sunrise’s failed bid to buy Liberty’s Swiss business, which collapsed after running into shareholder opposition last year.
At the end of the offer period on Oct. 8, 37.1 million Sunrise shares – equivalent to 81.98% of the voting rights and share capital – had been offered, the companies said on Wednesday in the definitive notice of the interim result.
The outcome, which exceeds the minimum acceptance threshold of two-thirds of all Sunrise shares being tendered, confirms the earlier provisional result.
If you want to know who really controls Jianpu Technology Inc. (NYSE:JT), then you’ll have to look at the makeup of its share registry. Generally speaking, as a company grows, institutions will increase their ownership. Conversely, insiders often decrease their ownership over time. I quite like to see at least a little bit of insider ownership. As Charlie Munger said ‘Show me the incentive and I will show you the outcome.
Jianpu Technology is a smaller company with a market capitalization of US$106m, so it may still be flying under the radar of many institutional investors. Our analysis of the ownership of the company, below, shows that institutional investors have bought into the company. We can zoom in on the different ownership groups, to learn more about Jianpu Technology.
Check out our latest analysis for Jianpu Technology
What Does The Institutional Ownership Tell Us About Jianpu Technology?
Shares are mixed in Asia after China reported its exports jumped nearly 10% in dollar terms in September as its economy recovered from the coronavirus pandemic
By ELAINE KURTENBACH AP Business Writer
October 13, 2020, 6:37 AM
• 4 min read
Shares were mixed in Asia on Tuesday, as investors were encouraged by strong growth in China’s trade in September.
An overnight rally on Wall Street, driven mainly by technology companies such as Apple and Amazon, faded amid worries over U.S. economic stimulus and a resurgence of coronavirus caseloads in many countries.
But the release of stronger trade data in Beijing helped Tokyo recover from early losses. Shanghai declined. Hong Kong’s market was closed for a typhoon.
China’s exports rose 9.9% from a year earlier to $239.8 billion in September, while imports gained 13.2% to $202.8 billion. Tuesday’s customs data showed
It’s happening slowly but surely. With every passing week, more venture firms are beginning to announce SPACs. The veritable blitz of SPACs formed by investor Chamath Palihapitiya notwithstanding, we’ve now seen a SPAC (or plans for a SPAC) revealed by Ribbit Capital, Lux Capital, the travel-focused venture firm Thayer Ventures, Tusk Ventures’s founder Bradley Tusk, the SoftBank Vision Fund, and FirstMark Capital, among others. Indeed, while many firms say they’re still in the information-gathering phase of what could become a sweeping new trend, others are diving in headfirst.
To better understand what’s happening out there, we talked on Friday with Amish Jani, the cofounder of FirstMark Capital in New York and the president of a new $360 million tech-focused blank-check company organized by Jani and his partner, Rick Heitzmann. We wanted to know why a venture firm that has historically focused on early-stage, privately held companies would be interested in
Chinese state media reported that exports jumped 10.2% in yuan, or renminbi, terms in September from a year earlier, while imports rose 4.3%, according to the General Administration of Customs. Dollar-based figures were due later in the day.
Traders were keeping an eye on the Chinese currency after the central bank scrapped a requirement for currency traders to post cash deposits, opening the way for more negative speculation on the country’s yuan, which might help to restrain its rise in value.
The change took effect Monday and eliminates a requirement imposed in 2018 for a 20% deposit on yuan trades to discourage speculators.
The recovery of the world’s second biggest economy has been a rare bright spot as investors wait to see if the U.S. Congress will manage to provide further economic aid for Americans and businesses struggling due to the coronavirus pandemic. With caseloads in the U.S., Europe and
Apple (AAPL) – Get Report shares surged Monday and the reason shouldn’t surprise anyone. The company is unveiling its iPhone 12 Tuesday, but there is a lot of information incorporated into the stock move.
The stock rose more than 6% to about $124 a share by 2 PM EDT Monday. After a nasty correction in September, when the stock fell as much as 20% — a technical bear market — investors have been willing to pay a roughly 30 times multiple on the next 12 months of earnings. That’s against analysts’ estimates of 8% compounded earnings growth for the next several years. However, analysts TheStreet has spoken with admit short-term and long-term earnings estimates have significant upside across businesses, legacy hardware, wearables and services.
The stock move Tuesday brings Apple’s earnings multiple to just under 35, which may seem stretched to some. Bullish Apple analysts around The Street
In “The Code Detectives,” two middle school girls who love coding use artificial intelligence to solve mysteries. For 17-year-old author Ria Dosha, writing the book series is a way to advocate for increasing diversity within the technology field.
“I’ve brought a diverse cast of characters to life, with the series centering around Ramona Diaz, a powerful young girl of color,” says Ria, a student at Cupertino’s Monta Vista High School. “The book series gives young girls strong, fictional role models in technology and AI, and introduces them to AI topics in a compelling way, clearing common misconceptions.”
Ria writes what shoe knows, and vice versa. She is the founder of CodeBuddies, which uses workshops, panels, challenges and more to promote problem-solving through technology. She is also the founder of Monta Vista’s Women in AI club, where she teaches girls the impact of artificial intelligence in daily life.
American Express shares were cut to neutral from buy by Susquehanna analyst James Friedman, based on a full valuation at the credit card and travel services company.
His rating was at buy for at least three years, according to MarketWatch. Friedman affirmed his share-price target at $110.
“It would be hard for [the company] to do better than its merchants, so consensus 2021 revenue up 11% looks full to us,” Friedman wrote in a commentary, according to MarketWatch. He said 7.5% growth is more like it, according to The Fly.
AmEx shares recently traded at $105.31, down 0.7%. They had fallen 15% year to date through Thursday. They also have risen 11% since Sept. 24, including Friday’s move.
Morningstar analyst Eric Compton sees American Express close to his fair-value estimate of $108.
“Investors should expect a difficult year for AmEx, as the company battles the coronavirus pandemic,” he wrote in
Xilinx Inc. shares surged the most in nearly a year Friday following a report from the Wall Street Journal that the San Jose-based tech group could be bought by its chipmaking rival Advanced Micro Devices. .
The Journal said the pair were in advanced merger talks that could value Xilinx at more than $30 billion, a 16% premium to the group’s closing price on Wall Street last night. Xilinx’s data-center chips have become much more valuable since the coronavirus pandemic triggered a surge in work-from-home dynamics that have pressured companies around the world to improve their technology and storage capabilities.
AMD, meanwhile, has seen its share price rise nearly 90% so far this year, taking its market value past $100 billion, a move that gives the chipmaker substantial firepower — despite a small net cash position of just
GameStop shares rose 44% on Thursday after it announced a multiyear partnership with Microsoft.
GameStop will begin selling an “Xbox All Access” bundle stores, with an Xbox console and two-year digital subscription at no upfront cost.
It will roll out the use of Microsoft Dynamics 365, Teams, and Surface devices in its stores and offices, it said.
GameStop will also upgrade its e-commerce site as part of the partnership.
Visit Business Insider’s homepage for more stories.
GameStop on Thursday announced a multiyear partnership with Microsoft to upgrade its stores and offer a new Xbox console package for no up-front cost — sending its shares rocketing by 44%.
As part of the partnership, the world’s biggest video games retailer said it would offer buyers an “Xbox All Access” bundle, for zero upfront cost, that includes an Xbox console and a two-year digital subscription to Xbox Game Pass Ultimate, Microsoft’s “Netflix of