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Tuesday, September 22, 2009

Yahoo seeking up to $500 million for small business unit

Yahoo hopes to get up to $500 million for a unit that hosts websites for small companies, after putting it on the market for several months, two people familiar with the matter said.

Yahoo has received interest from corporate buyers and private equity firms, one of the sources familiar with the situation said. It is unclear if any party has made an offer.

But some potential corporate buyers who have looked at the asset in recent months have decided not to bid because they think the price is too high, a second source said.
Last week, Yahoo sold its stake in China's top e-commerce company Alibaba.com for $150 million.

The sources spoke on condition of anonymity because the sale process has not been made public. A Yahoo spokeswoman said the company does not comment on rumors or speculation.

The small business division provides domains, email, Web hosting and other merchant services to customers. Sunnyvale, California-based Yahoo, which posted $7.2 billion in revenue last year, does not break out the unit's performance.

Yahoo prefers to sell to another company rather than a buyout shop, believing that a strategic buyer would be more likely to pay a higher multiple for the synergies that the unit has with its own business, the sources said. Do you think this post is informative??Share this:
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Sun Microsystems losing US$100m a month

Sun Microsystem Inc is losing about US$100 million a month as European regulators delay approving his company's US$7 billion purchase of the struggling hardware maker.

Sun's revenue has tumbled since April when Oracle agreed to buy the world's No. 4 computer server maker in April as rivals IBM and Hewlett-Packard Co have poached customers amid uncertainty about its future.

Oracle has pledged to boost investment on development of Sun's products,but the hardware company has cut spending prior to the deal's closing as sales have plunged. Last month it reported a quarterly loss of US$147 million.

- Reuters


Will this means the end of Sun?? Let's wait and see..


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Saturday, September 12, 2009

UOB plans to sell insurance unit

United Overseas Bank Ltd (UOB) of Singapore is selling its life insurance unit, according to sources involved in the auction in an effort to shed a non-core division and raise up to US$500 mil in the process.

The move shows a pick-up in confidence among executives seeking to divest business and high lights the continued interest of Western firms looking to tap Asia's growing personal wealth.

Sources said HSBC was advising SOuth-East Asia's second biggest lenger on the sale of the business, known as UOB Life Assurance.

Pruduential Plc was among the global insurer, has also shown interest in UOB Life. Great Eastern the largest insurance group in Singapore and Malaysia, dwarfing UOB Life with S$45 bil in assets and 3.8 million policyholders in both countries.

The auction comes at a time when global insurance companies are seeking to expand their networks in fast growing regions such as Asia..

- Reuters


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Delta in talks on big stake in JAL

Delta Air Lines, the world's biggest carrier is in talks to invest in Japan AIrlines Corp (JAL) and become its top shareholder.

The report said Delta was in talks to invest several talks to invest several tens of billions of yen in Asia's largest airline by revenue.

JAL is forecasting a net loss of 63 billion yen (US$692 mil) for the year to March, hit by the global economic slump.

-Reuters


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