International Headlines You May Have Missed
The world is a big place and investors have access to companies located internationally. Here is a roundup of some notable pieces of news that occurred outside of the U.S. that American investors might find beneficial to understand.
Gulf Investors Are Eyeing Deutsche Bank
Influential families and individuals collectively own around 10 percent of the Germany-based global banking giant Deutsche Bank (NYSE: DB) but may be interested in boosting their stake.
Deutsche Bank continues to face a liquidity crisis as the U.S. Department of Justice slapped the bank with a $14 billion penalty for its alleged wrongdoings in selling mortgage backed securities prior to the 2008 financial crisis.
Reuters, citing reports a German business publication called Manager Magazin, reported that sovereign wealth funds across Qatar and Abu Dhabi along with a Chinese investors could be interested in buying a 25 percent stake in one of Europe’s most important financial institutions.
Shares of Deutsche Bank gained more than 4 percent on Thursday and is trading higher by more than $3 per share since its woes sent the stock tumbling to its all-time lows of $11.19.
China-Based Electric Vehicle Maker Strikes A Deal
Kandi Technologies Group (NASDAQ: KNDI), a small-cap China-based manufacturer and seller of various vehicle products include a pure electric vehicle, announced on Thursday it has reached a strategic agreement with Shanxi Coal Asset Management to sell over 50,000 of its electric vehicles over a five-year cooperation period.
Kandi noted that its cooperation with Shanxi Coal is a “major milestone” in its mission to expand throughout the entire country.
“Shanxi abounds in mineral resources and has tremendous market potential, with a strong demand for zero emission all-electric vehicles,” Kandi’s CEO Hu Xiaoming said.
Despite the new agreement, sales of Kandi Technologies were trading lower by around one percent on Thursday.
Reports: NXP Semiconductors Close To A Sale Of Itself
Shares of Dutch-based NXP Semiconductors (NASDAQ: NXPI) spiked higher on heavy volume Thursday afternoon and hit a new 52-week high of $107.54 after market reports suggested the company is close to finalizing a deal to sell itself to Qualcomm (NASDAQ: QCOM).
The unconfirmed market chatter is consistent with a Bloomberg report issued earlier in the month which suggested that NXP Semiconductor was making progress on a sale of itself to its American peer.
Combining Qualcomm’s near $100 billion market cap with NXP’s $36 billion market cap would create an industry giant and also prove to be the largest M&A deal in history involving semiconductors.