Air France Sees Mainland Revenue Doubling
Europe’s biggest aireline by revenue–Air France—KLM Group, is expecting its revenue in China to double within 6 years.
According the top executive of the company, it is said that the group’s business growth in China is two times or even three times quicker than in other countries and regions in the past three years. So, it will strike to further expand in the country via opening several new routes in the next two to three years.
Berlin Fears over T-Mobile’s US Disposal Grow
The German government, which is the largest shareholder of Deutsche Telekom’s, is getting more and more worried about that the sale of the company’s US mobile phone unit–T-Mobile USA to its competitor–AT&T will founder on US antitrust concerns.
UniCredit Set to Exit London-based Business
According to people close to the operation, it is reveale today that Italy’s largest bank by assets–UniCredit, is ready to announce its plan to leae the London-based equity sales and trading business due to the launch of a rights issue to raise at least €5bn.
The bank, which operates across 22 countries in Europe, is taking the step as part of a strategic plan aiming at focusing on the key markets of Italy, Germany as well as Poland again, while strengthening its capital base.
AgBank Shrugs off Early Rights Issue Fears
AgBank is the world’s biggest bank by customers, branches and staff numbers. The bank has shrugged off market concerns that it will need to resort to an early rights issue to top up capital buffers and keep growing.
Board secretary at Agricultural Bank of China–Li Zhenjiang has indicated that extra time is needed to adjust to stiffer capital requirements.
GM Plans Upmarket Future for Opel
According to Dan Akerson, the Detroit carmaker’s chairman and chief executive, it is said that General Motors is planning to move its European Opel brand upmarket and search for more synergies between Opel and its North American Buick brand.
Citi Looks to Safeguard EMI Bidders
According to two people close to the issue, it is said that the US bank–Citigroup is currently looking to indemnify bidders for EMI from any future damages claim from the music company–Guy Hands, following fresh legal action by the private equity financier over the company.
KPMG to Put Aero Inventory up for Sale
One of the biggest aircraft parts suppliers in the world–Aero Inventorywhich went into administration in 2009, has been turned round by KPMG’s pumping in tens of millions of pounds.
The company came across its downfall after a misleading stock market valuation which claimed the scalps of two senior executives of Aero.
The company will now be put up for sale in September. This will secure more than 300 jobs in the UK.
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