1.
The US-based phone company Verizon Communications has agreed to buy
UK-based Vodafone Group PLC for 130 billion dollars, making it the third
largest corporate deal ever.
2. Microsoft Corp bought Nokia’s
mobile phone business for 5.44 billion euros, and the Finnish firm said
its CEO, Stephen Elop, would join Microsoft when the transaction is
closed. Finland’s Nokia, once the undisputed leader in mobile phones,
has been struggling to respond to the challenge from smartphone makers
such as Apple and Samsung.
3.
Jaiprakash Associates Ltd has agreed to sell its cement plant in Gujarat
to UltraTech Cement Ltd for around 38 billion rupees including debt.
UltraTech, India’s largest cement maker by production capacity, will
issue shares worth up to 1.5 billion rupees to Jaiprakash and assume
debts of about 36.50 billion rupees.
4. In a move that would
boost investments in the semiconductor sector and provide an impetus to
the India’s beleaguered economy, the Union Cabinet has given its
in-principle approval to subsidise setting up of chip-fabrication units.
The facilities are expected to provide a significant push to domestic
electronics manufacturing and act as magnets for the electronics
components and ancillary industry, setting the stage for a conducive
electronics manufacturing ecosystem in the country. Of the two
chip-fabrication projects the government has shortlisted for subsidy,
the consortium for one is led by Jaypee Group, which has partnered with
IBM as its technology partner. The other has been mooted by domestic
chipmaker Hindustan Semiconductor Manufacturing Corp (HSMC), which will
get technology support from Geneva-based STMicroelectronics NV. The
projects are said to be worth Rs 25,000 crore each.
5. Ogilvy
& Mather, a global advertising, marketing and public relations
agency, has agreed to acquire a majority stake in PennyWise Solutions, a
Hyderabad-based digital technology and production company.
6.
Two decades after selling off its carbonated soft drinks portfolio,
Prakash Chauhan-headed Parle Agro has announced its re-entry into the
segment with a new coffee-flavoured carbonated drink, Cafe Cuba. Parle
Agro had sold its popular and iconic soft drink brands, namely Thums Up,
Limca, Gold Spot and Citra, to Coca-Cola in 1993 and had also signed a
non-compete agreement for 10 years.
7. Online commerce major
eBay Inc has agreed to acquire payment platform Braintree for about $800
million in cash in order to strengthen its PayPal business.
8. Arundhati Bhattacharya has been appointed as the first woman managing director of State Bank of India.
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