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Mark Zuckerberg Faces Criticism From Senators et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Apr 11, 2018 12:58 PM 2 min read
Editorial

End of Day Wrap-up (Wednesday / April 11, 2018) #Manipal #Hospital #Tata #AirIndia #SaudiAramco #Flipkart #MarkZuckerberg #China #Shanghai #London #Transfin

Editor's comment: After protests from minority investors, private equity firm TPG backed Manipal Hospitals revises terms of offer for acquiring Fortis hospitals. The revised offer also includes a proposal for INR40 bn rights issue and an upward revision in the valuation of Fortis Healthcare.

 

Tata Group is unlikely to consider a bid for Air India as the government's terms are just too onerous. This has come after Indigo and Jet withdrew to bid for the debt-ridden airlines.

 

Saudi Aramco signs a Memorandum of Understanding (MoU) with 3 Indian oil marketing companies - Indian Oil (IOC), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL) - to develop and build the planned refinery and petrochemical complex called Ratnagiti Refinery and Petrochemicals (RRPCL) in Maharashtra.

 

Flipkart Online Services Pvt company is likely to sell a controlling stake to the Bentonville, Arkansas-based company, rather than Amazon. Walmart faces fewer regulatory hurdles because it has no online retail presence in India. Companies are bidding for a stake in Flipkart at a valuation of about USD20 billion.

 

Facebook CEO Mark Zuckerberg testifies before lawmakers for Facebook’s alleged involvement in user private data breach. In his statement, Zuckerberg acknowledged that Facebook feels responsible for what is posted on its service. There was threat of new laws and regulations from the senator bench.

 

China to launch a stock trading link between Shanghai and London by year end in a bid to open up its financial markets and providing the U.K. with a vote of confidence ahead of Brexit. Announcement came from China’s central bank governor Yi Gang.