PRESS DIGEST- Financial Times - Dec. 20
Dec 20 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
Headlines
- Spain to buy 10% share in Telefónica in response to Saudi stakebuilding
- Raiffeisen and Deripaska skirt Russia sanctions with €1.5bn deal
- Turkish brewer to acquire AB InBev stake in Russian joint venture
- Signa puts Chrysler Building up for sale in urgent effort to raise cash
Overview
- Spain is to buy a stake of up to 10% in Telefónica in a bold response to a move by Saudi Arabia's STC Group to acquire 9.9% of the telecommunications company.
- Austria's Raiffeisen Bank International has concluded an asset swap arrangement with Oleg Deripaska that skirts EU sanctions restrictions to hand the Russian oligarch roubles worth 1.5 billion euros ($1.65 billion).
- Turkish brewer Anadolu Efes has agreed to acquire AB InBev's stake in a $1.3 billion Russian joint venture in a sign of Turkey's continued close corporate ties to Russia, as Western companies struggle to offload their assets in the country.
- Signa Holding is in negotiations to sell half of New York's Chrysler Building to urgently raise cash, the collapsed European property company's administrator has said, as he warned of a protracted and financially painful wind-down ahead.
($1 = 0.9114 euros) (Compiled by Bengaluru newsroom)
