Liberty Global Inc (NASDAQ:LBTYA) has launched an offer to buy up the rest of the stock it does not own in Belgian cable company Telenet Group Holding NV for €35 per share, the same it had informally offered to pay in September. The Belgian company contended at the time that it was worth between €37-€42 per share. On Monday, Liberty Global announced its disagreement with Telenet’s projections post-2014, questioning the underlying and aggressive volume, price and profitability assumptions. According to the Wall Street Journal, the transaction may soon turn hostile.
In what appears to be a move to de-escalate the patent wars between the two companies, Samsung has withdrawn lawsuits that sought to ban the sale of Apple (NASDAQ:AAPL) products in Europe. The move came shortly after Apple’s petition for a ban in America on the sale of several smart phones manufactured by Samsung was rejected by a US judge. “Samsung remains committed to licensing our technologies on fair, reasonable and non-discriminatory terms,” said a statement from the Korean company. “In this spirit, Samsung has decided to withdraw our injunction requests against Apple on the basis of our standard essential patents pending in European courts in the interest of protecting consumer choice.”
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In a scathing exposé of Walmart’s (NYSE:WMT) routine and aggressive bribery practices in Mexico, the New York Times alleges, “Wal-Mart de Mexico was not the reluctant victim of a corrupt culture that insisted on bribes as the cost of doing business nor did it pay bribes merely to speed up routine approvals. Rather, Wal-Mart de Mexico was an aggressive and creative corrupter, offering large payoffs to get what the law otherwise prohibited. It used bribes to subvert democratic governance — public votes, open debates, transparent procedures.” The findings emerged from an investigation by the New York Times that covered dozens of towns in Mexico, tens of thousands of documents relating to building permits, and interviews with government officials, Walmart employees and former Walmart lawyer, Sergio Cicero Zapata.
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