After deals in Nigeria and Kenya, $50 bln U.S. operator Digital Realty is buying most of South African rival Teraco. The $3.5 bln price tag is eye-catching given the risky location. But the continent’s growing population and rising data demand make the long-term numbers add up.
CSL’s Swiss expedition risks derailing its winning streak. The $99 billion Australian flu-jab maker is in talks to buy Vifor Pharma for around $7 billion, according to Australian media. The target’s sickly share price makes the pounce timely, although the returns look paltry unless Chief Executive Paul Perreault can unearth lots of synergies. A looming patent expiry for one of Vifor’s key drugs adds to the unknowns.
Commodity trader Vitol is buying out minority shareholders in Vivo Energy , a London-listed group that sells fuel in Africa. The 139 pence per share offer, which values the firm at $2.3 billion, is a 25% premium to Vivo’s undisturbed price, but still below the 165 pence at which it listed in 2018. Vitol, which currently has a 36% stake, was one of the selling shareholders back then, with a 54.9% holding.
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The United Nations climate summit in Glasgow has left coal down, but not out. Despite agreements, backed by $20 billion in loans and grants, to phase out its use, the fossil fuel could still be a major carbon emitter for 20 years or more. The stock market, though, suggests its demise may be closer at hand.