ZTE’s controlling shareholders plan on selling upto 3% shares

Chinese telecom company ZTE Corp had been subject to U.S. sanctions. Its controlling state-owned controlling shareholder Zhongxingxin Telecom plan on selling as much as 2% of its shares once the stock has doubled its value. According to regulatory filing, the controlling stakeholders of China’s ZTE Corp’s plan to slash their stake, by as much as…

Nestle under pressure to sell its stake in L’Oreal

Activist hedge fund Third Point, led by investor Daniel Loeb, has been pressurizing Nestle to sell its stake in L’Oreal. On Monday, in a report published by the Financial Times which triggered fresh rounds of speculation, Paul Bulcke, Nestle’s Chairman, stated the company’s stake in French cosmetics firm L’Oreal was “something active on the board’s…

Naspers generates $9.8 billion by selling 2% of its stake in China’s Tencent Holdings Ltd

Naspers said the sale was for strengthening its balance sheet and to boost growth in its e-commerce business. On Friday, Naspers, a South Africa-based multinational internet and media group, stated it has raised $9.8 billion by selling 2% of its holdings in China’s Tencent Holdings Ltd. A move, it described as being aimed at strengthening…