Reeling from massive losses due to its disastrous missteps in the subprime mortgage segment, embattled financial services giant Citigroup is getting a $7.5 billion cash infusion from Gulf nation Abu Dhabi through a sale of Equity Units convertible into shares. The Abu Dhabi investment is expected to close within the next several days. The badly-needed cash […]
The Wall Street Journal (subscription required) has an interesting piece today on the recent stock surge in the Ambanis’ Reliance group of companies controlled by the two brothers Mukesh and his estranged younger brother Anil Ambani, who run different companies. According to the WSJ, the steep stock surge has taken the two Ambanis’ total worth […]
Gulf nation Abu Dhabi has reportedly acquired a 8.1% stake in American microprocessor firm AMD for about $700 million. The purchase is being routed through Mubadala Development, a wholly owned investment vehicle of the Government of the Emirate of Abu Dhabi, in the United Arab Emirates. Mubadala’s mandate is to set up new companies and acquire strategic […]
Google hit a road bump in its proposed acquisition of online banner ad services provider DoubleClick with the European Union’s antitrust regulators deciding to open an in-depth investigation into the deal. In their initial market investigation, EU officials found the proposed merger would raise competition concerns in the markets for intermediation and ad serving in […]
Chinese e-commerce company Alibaba.com wants to expand its electronic marketplace operations to India, Japan, Taiwan and Hong Kong. Alibaba.com CEO David Wei told the Wall Street Journal (subscription required) after the company’s recent $1.5 billion IPO: “Although we believe that Chinese manufacturers’ competitiveness will remain for a very, very long term, for some categories ‘made in […]
Heady from its overwhelming success in the search arena, Google wants to extend its sway into the mobile arena as well. On Monday, the Mountain View, California company rolled out a new alliance of 34 members called Open Handset Alliance to develop new cell phones based on open technology standards. Google and other members of the […]