On Thursday, Baidu Inc (ADR) (NASDAQ:BIDU)’s shares inclined 0.22% to $204.32.
VisionChina Media Inc. (VISN), China’s largest out-of-home digital television advertising network on mass transportation systems and the leading provider of urban mass transit Wi-Fi, recently declared the signing of a definitive Equity Subscription Agreement (the “Agreement”) for about US$11.5 million of Series A equity for Shenzhen Qianhai VisionChina Mobile Interactive Co., Ltd. Qianhai Mobile is a merged associate[1] of the Company engaged in the research, development and operation of mass transit Wi-Fi networks and the provision of mobile Internet value-added services in the PRC. The transaction was led by Beijing Baidu Netcom Science Technology Co., Ltd., a merged associate of Baidu Inc. (BIDU) and also comprised of Guangdong Zhongke Baiyun New Industry Venture Investment Co., Ltd. and Dongguan Zhongke Zhongguang Venture Investment Co., Ltd., both of which are reputable national private equity investors in the PRC. The transaction is subject to customary closing conditions.
As part of the transaction, Qianhai Mobile and Baidu have reached a Business Cooperation Agreement to jointly develop and monetize mobile app distribution and other mobile passenger services powered by Baidu Map.
As of date of this press release, VisionChina Media, through its Qianhai Mobile associate, has secured exclusive concession rights for bus Wi-Fi services in 18 cities across China, counting Shanghai, Shenzhen, Guangzhou and Tianjin, covering about 35,000 buses. Presently, Qianhai Mobile provides free Wi-Fi Internet services on about 15,000 buses under the brand name “VIFI,” spanning over 7.5 million commuters and providing over 3 million Wi-Fi service sessions per day. The Company will use the proceeds from this transaction to pursue additional concession rights and further expand its Wi-Fi network infrastructure to solidify its leading position in this market.
Baidu, Inc. provides Internet search services in China and internationally. It offers Chinese language search platform on its Baidu.com Website that enables users to find relevant information online, counting Web pages, news, images, documents, and multimedia files through links offered on its Website; and international products and services to users in other countries.
Ingersoll-Rand PLC (NYSE:IR)’s shares dropped -0.06% to $69.05.
Ingersoll-Rand PLC (IR) a world leader in creating comfortable, sustainable and efficient environments, held its 2015 Annual General Meeting of shareholders in Maynooth, Ireland.
During the Annual General Meeting, the company’s shareholders considered six proposals: nominations to re-elect or elect 12 members of Ingersoll Rand’s board of directors; advisory approval of the compensation of the company’s named executive officers; appointment of independent auditors and authorization of the Audit Committee to set the auditors’ remuneration; renewal of the Board of Directors’ existing authority to issue shares; renewal of the Board of Directors’ existing authority to issue shares for cash without first offering shared to existing shareholders; and a resolution to determine the price range at which the company can reissue shares that it holds as treasury shares.
The preliminary results of the Annual General Meeting voting are as follows:
- All 12 individuals nominated for the board of directors – Ann C. Berzin, John Bruton, Elaine L. Chao, Jared L. Cohon, Gary D. Forsee, Constance J. Horner, Linda P. Hudson, Michael W. Lamach, Myles P. Lee, John P. Surma, Richard J. Swift, and Tony L. White – were elected to a one-year term, which expires at the company’s next Annual General Meeting.
- The proposal to give advisory approval of the compensation of the company’s named executive officers received about 97 percent of votes cast in favor.
- The proposal to approve the appointment of PricewaterhouseCoopers as the independent auditors of the company and to authorize the Audit Committee to set the auditor’s remuneration received about 97 percent of the votes cast in favor.
- The proposal to approve renewal of the Board of Directors’ existing authority to issue shares received about 96 percent of the votes cast in favor.
- The proposal to approve renewal of the Board of Directors’ existing authority to issue shares for cash without first offering shared to existing shareholders received about 97 percent of the votes cast in favor.
Ingersoll-Rand plc, together with its auxiliaries, designs, manufactures, sells, and services a portfolio of industrial and commercial products. It operates through Climate and Industrial segments.
At the end of Thursday’s trade, Net Element International Inc (NASDAQ:NETE)‘s shares surged 11.69% to $0.640.
Net Element International Inc (NETE) launched its online payments processing business in Kazakhstan by securing a contract with Kassir.com, the country’s largest online events ticketing website and 2nd largest online merchant serving the Kazakhstan market.
A new agreement with Kazkommertsbank (“KAZKOM”), Kazakhstan’s largest bank, allows Net Element’s pending partner PayOnline to process online transactions for merchants in the countries served by the bank, counting also Russia, Kyrgyzstan and Tajikistan.
As part of the agreement, Net Element will receive preferred partner processing rates in addition to merchant referrals from KAZKOM.
The Company will now provide bankcard processing, mobile payments, person-to-person payments and business-to-consumer lending in the region.
As one of the largest commercial banks in the Commonwealth of Independent States region, KAZKOM has over 2.4 million cardholders and 2,200 ATMs.
Total population in the region served by the bank is about 60 million.
According to Kazakhstan Ministry of Transport and Communications, e-commerce in the region is forecast to be $3.6 billion in 2015 and grow to $5 billion in 2017.
Net Element, Inc., a global payments-as-a-service, operates as a technology provider with an integrated mobile and transactional services platform serving emerging market clients. The company, through its partner, TOT Group, Inc., operates Unified Payments that processes cashless transactions for card-present or card-not-present transactions, counting point-of-sale (POS), mobile POS (mPOS), EMV, near field communication, Apple Pay, Internet businesses, service-oriented businesses, and mail order/telephone order merchants, in addition to processes other cashless transactions, counting checks and direct debits.
Liberty Global plc - Class A Ordinary Shares (NASDAQ:LBTYA), ended its Thursday’s trading session with -2.19% loss, and closed at $54.60.
Vodafone has confirmed that it has held talks with Liberty Global plc - Class A Ordinary Shares (LBTYA) to exchange some of their businesses in Europe but cautioned that the two groups were not considering a long-mooted merger that would have created a £100bn global telecoms powerhouse.
Liberty broke cover on its interest in exploring a potential merger two weeks ago after chairman John Malone pointed to the “substantial synergies” should it merge its western European business with that of Vodafone.
However, Vodafone on Friday said it was “not in talk aboutions with Liberty Global concerning a combination of the two companies”. Instead, it was in “early stages of talk aboutions with Liberty Global regarding a possible exchange of selected assets between the two companies”.
There is no certainty that any transaction will be agreed, it added, or which assets will ultimately be involved.
Vodafone’s business in the UK, Germany and the Netherlands would be right away complementary to Liberty’s cable services in the countries, allowing combinations of the two groups in these areas to offer bundled telecoms and television products.
Virgin Media in the UK, which was attained by Liberty Global in 2013 for $23bn, could be of interest to Vodafone, according to analysts.
Analysts at RBC Capital Markets said on Friday that the easiest scenario would be a swap of Liberty’s German businesses in exchange for Vodafone’s UK and Dutch operations given similar enterprise values. RBC added that Vodafone could engineer the swap the other way to acquire Virgin Media in the UK and Liberty’s Dutch business but that may also require additional cash.
Liberty Global plc, together with its auxiliaries, provides video, broadband Internet, fixed-line telephony, and mobile services in Europe, Chile, Puerto Rico, and internationally. The company offers various residential services, counting video services comprising basic and premium programming, which can be viewed on the television and Internet connected devices; electronic programming guide, high definition (HD) channels, digital video recorder (DVR), and HD DVR services; video-on-demand, set-top boxes, pay-per-view programming, and programming in three-dimensional format services, in addition to television applications that allow access to programming on laptops, smartphones, and tablets; and entertainment, sports, movies, documentaries, lifestyles, news, adult, children, and ethnic and foreign channels.
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