EXCLUSIVE Oi-Portugal Telecom: Top M&A of 2013
The $15-billion deal is three times as valuable as the second place merger on our list
Portugal Telecom's acquisition by Brazil's Oi was the largest M&A last year, according to LBC's list of Top 100 Latin American M&As of 2013. The deal, valued at $15 billion, will create a new company expected to see annual sales of almost $17 billion. Our list is dominated by firms in the telecoms, infrastructure, retail, energy and banking sectors, with Brazil having the largest representation.
Obama arrives in Mexico to boost North American ties
U.S. President's party leaders vow to undercut his efforts during summit
U.S. President Barack Obama arrived in Mexico Wednesday for a summit with Mexican President Enrique Peña Nieto and Canadian Prime Minister Stephen Harper. The meeting is aimed at bolstering ties between the countries, but Obama's party leaders have vowed to undercut his efforts during the trip, the New York Times reports.
Slim plans bigger New York Times stake
Billionaire is currently company's second largest shareholder
Mexican billionaire Carlos Slim plans to double his stake in the New York Times Co. to as much as 19 percent by the end of the year. Slim owns stock warrants that allow him to 15.9 million shares at $6.36 each, less than half the market value at today's close. Slim is currently the company's second largest shareholder, with an 8 percent stake, Bloomberg reports.
Uruguay cuts 2014 growth forecast from 4 to 3 percent
Weaker meat and soy exports have slowed down country's economy in recent years
The Government of Uruguay cut its growth forecast for this year from 4 to 3 percent, said Matías Ponce, spokesman for the MInistry of Economy. The country's economy has slowed down in recent years due to weaker meat and soy exports. Last year, the country's economy is likely to have grown 3.8 percent, Reuters reports.
Venezuela to keep opposition leader detained as protests continue
Leopoldo López is accused of crimes such as racketeering and faces up to 10 years in prison
The government of Venezuela will keep opposition leader Leopoldo López detained for as many as 45 days while he is investigated for inciting violence during anti-government protests that have left at least five people dead. Violence resurged Wednesday night as President Nicolás Maduro addressed the nation, with shots reported throughout Caracas, Bloomberg reports.
Chile to build Latin America's longest suspension bridge GlobalPost
Vale may sell Brazil potash project on tax dispute Reuters
Argentina and India discuss renewable energy cooperation Economic Times
Iberdrola shifts investment away from Spain to Mexico and UK Businessweek