Market Updates
Xavier Niel Agrees to Acquire Orange Switzerland for $2.9 B
Nigel Thomas
18 Dec, 2014
New York City
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Fortune Oil agreed to acquire by Fortune Dynasty Holdings for
[R]4:00 PM Frankfurt – Fortune Oil agreed to acquire by Fortune Dynasty Holdings for £388 million. Hansteen Holdings sells 11 assets in UK for about £44 million. Swisscom declined after French billionaire Xavier Niel agreed to acquire Orange Switzerland for 2.8 billion Swiss francs.[/R]
In London trading, FTSE 100 index climbed 1.6% or 103.05 to 6,439.53 and in Frankfurt the DAX index soared 2.2% or 213.71 to 9,758.14.
In Paris, CAC 40 index surged 2.9% or 119.30 to 4,231.21.
Fortune Oil Plc surged 50.4% to 9.49 pence after the U.K.-based oil and gas supplier agreed to be acquired by Fortune Dynasty Holdings Ltd for a cash offer at a premium of 58.5% from closing price of 6.31 pence of yesterday, totaling £388 million.
Hansteen Holdings Plc jumped 2.2% to 107 pence after the U.K.-based real estate investment company completed a deal to sell 11 assets in UK for about £43.9 million from the Ashtenne Industrial Fund.
Lloyds Banking Group Plc slid 0.07% to 75.28 pence and the U.K. government unveiled plans to sell £3 billion worth of shares over the next six months.
Swisscom AG declined 6.1% to 531.50 francs after the French billionaire Xavier Niel’s subsidiary NJJ Capital agreed to acquire Orange Switzerland for 2.8 billion Swiss francs or $2.9 billion from a consortium advised by Apax Partners.
Severfield Plc soared 4.4% to 66.32 pence after the U.K.-based fabrication company secured six new contracts worth about £43 million.
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