Investors have halted plans for a $2.5 billion bid for a Chinese company listed in New York, in the latest fallout from China’s attempts to clamp down on speculation in its markets. A group that includes Lei Jun, founder of Xiaomi , has stopped working on an offer for Nasdaq-listed online karaoke site YY Inc., […]
Category: Business Practice
In an otherwise slow year for deal making, China’s pursuit of acquisitions around the world has been a big trend, according to The Wall Street Journal. Chinese firms have struck $110.8 billion in overseas deals this year, according to Dealogic. To put that number into context, not only is it already a full-year record — surpassing […]
The Charity Gap
An automaker launched last year by firms including tech giant Tencent Holdings Ltd has poached autonomous driving personnel from Google and Daimler AG, marking China’s latest high-profile hires in the race to make self-driving cars, Reuters reports. Tech firms are encroaching on the auto sector as cars become increasingly reliant on digital technology, with Chinese […]
American International Group has raised HK$9.68 billion ($1.25 billion) by selling a large chunk of its stake in China’s PICC Property and Casualty Co Ltd in a block deal, IFR reported on Sunday. According to Reuters, AIG sold about 740 million shares at HK$13.08 each, or near the bottom end of a marketing range, IFR […]