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Tag: deal
Zain sued for USD 4.5 bln in damages over Iraqna deal
2014-04-21 10:59:00| Telecompaper Headlines
(Telecompaper) Mobile operator Zain is being sued for USD 4.5 billion over its 2007 acquisition of an Iraqi telecom operator. Zain bought Iraqna for USD 1.2 billion from Orascom Telecom in December 2007 after the Egyptian firm dropped out of the running for a long-term mobile licence in Iraq. The Kuwaiti firm then merged its Iraqi unit, Atheer, with Iraqna and renamed the entity Zain Iraq, which is now the country's biggest operator by subscribers. Zain said in statement to the stock market that a company it declined to identify filed a lawsuit last August. This claims Zain's takeover had stopped the firm buying Iraqna, causing it losses of USD 4.5 billion, Reuters reports. Zain said it believes its position in the case is strong as the claimant company has failed to produce any evidence to back its claim. The anonymous company is also suing Zain and Iraq's Communications and Media Commission jointly for a further USD 1 billion, the statement said. An Iraqi court in January ruled that all Zain Iraq's revenue from its subscriber base transferred to the company as a result of the Iraqna acquisition should be placed under a legal guardian and in an Iraqi bank until the case is resolved. Zain said it unsuccessfully appealed this decision.
Deutsche Bank Tops Korean Merger Advisory on Anheuser-Busch Deal
2014-04-21 05:04:22| Beverages - Topix.net
Anheuser-Busch InBev NV's $5.8 billion purchase of Oriental Brewery Co. has vaulted Deutsche Bank AG to the top of South Korea 's merger league table, putting the firm on course for a record advisory year in the country.
Tags: deal
bank
deutsche
korean
Fiat Chrysler strikes deal to produce Jeeps in China
2014-04-19 16:05:31| Automakers - Topix.net
The plan to produce three new Jeep vehicles in China for the domestic market, through the GAC Fiat joint venture, has received the necessary government approvals, the companies said.
Tags: china
deal
produce
chrysler
Fluctuating loonie no big deal for most Canadian businesses: BMO poll
2014-04-18 18:00:00| Canadian Plastics Headlines
The fluctuating loonie might not have a big impact on most Canadian businesses after all, according to a new survey by the Bank of Montreal (BMO).
Tags: big
deal
businesses
canadian
China's coal boom is slowing that's huge deal for climate change
2014-04-18 14:36:59| Climate Ark Climate Change & Global Warming Newsfeed
Vox: How much global warming will we get in the future? That largely depends on how much extra carbon-dioxide humans put in the atmosphere. And that -- in large part -- hinges on how much coal China ends up burning in the years ahead. China has been growing rapidly -- and with 1.3 billion people, it needs a staggering amount of energy. Currently, 65 percent of that energy comes from coal, the most carbon-intensive of all fossil fuels. That's a huge deal: Over the last decade, fully half of the global...
Tags: change
deal
huge
climate
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