Anheuser to Pursue SABMiller, Vodafone, Liberty End Talks

Nigel Thomas
28 Sep, 2015
New York City

Anheuser Busch intends to offer $106 billion to the U.K.-based rival SABMiller. BASF launched new cost-cutting program. UniCredit agreed to divest its non-performing loans business for about

[R]4:00 PM Frankfurt – Anheuser Busch intends to offer $106 billion to the U.K.-based rival SABMiller. BASF launched new cost-cutting program. UniCredit agreed to divest its non-performing loans business for about €1.2 billion.[/R]

In London trading, FTSE 100 index declined 139.53 or 2.3% to 5,969.48 and in Frankfurt the DAX index dropped 196.04 or 2% to 9,492.06.

In Paris, CAC 40 index slumped 130.54 or 2.9% to 4,350.12.

Anheuser Busch Inbev SA fell 0.6% to €96.63 after the Sunday Times reported Belgium-based brewing company plans make an open offer to the U.K.-based SABMiller for about $106 billion.

SABMiller Plc stock jumped 2.1% to 3,663 pence.

BASF SE slipped 1.4% to €66.69 after the Germany-based chemical company today said a new cost-cutting program between 2016 and 2018 and plans to reduce capital expenditures to contribute €1 billion by the end of 2018.

SBM Offshore N.V surged 14.3% to €10.73 after the Netherlands-based offshore energy explorer said Brazil-based subsidiary received written notification from integrated energy company Petrobras to participate in the recently issued Libra and Sépia FPSO tenders in Brazil.

UniCredit SpA declined 3.9% to €5.43 after Italy-based financial services provider said agreed to divest its non-performing Italian corporate and consumer loans business for about €1.2 billion or $1.3 billion to private equity group AnaCap Financial Partners LLP.

Vodafone Group Plc slumped 3.9% to 209.05 pence after the U.K.-based mobile telecom services provider said discussions with privately held mobile services provider Liberty Global Plc has ended after two companies could not agree on price.

In June, the company was planning to swap few assets and working on a plan to sell packages of mobile, fixed-line, broadband and television services in one package, increasingly offered by rivals.