The latest in investing news from Russia, Colombia, Spain, Ireland, China, Mexico, Africa, Hong Kong, and Britain:
*I am frustrated that after its huge deal with Citigroup announced yesterday AIA shares in Hong Kong still were taken down by concerns over Chinese financial woes. The stock is barely ahead on the news. I think HK:1299 is a screaming buy. But not on Friday when Hong Kong is already closed but next week.
*Eduardo Garcia in Mexico City reports on the biggest deal yet by Mexican REIT Fibra Uno (FBASF in los Estados Unidos): It closed on the acquisition of real estate portfolios from MRP Group and Finsa for NMP 23.2 bn ($1.818 bn) and NMP 371 mn respectively. Of the total, FBASF is using cash on hand for NMP 17.3 bn of the payments and will also assume debt from the sellers. But there is still a gap.
The MRP properties are 92% occupied and those of Finsa (factories for the most part), 97.6% occupied, Fibra Uno’s release said. Eduardo writes www.sentidocomum.co.mx with which we exchange news.
*I paid 81 UK pence for Raven Russia Ltd (GB:RUS) overnight. The share fell to 78.195 pence after my trade, because of weekend risk for the US market-maker.
*GlaxoSmithKline won FDA fast-track designation for its breakthrough Tafenoquine therapy against plasmodium vivax malaria. GSK also won approvals in the European Union for its 2-dose cervical cancer jab for girls aged 9 to 14, replacing an earlier 3-dose regimen.
The new “biosimilar’ of Advair from Sandoz called AirFluSal Forspiro will have to be specifically prescribed because it is not a full generic and will have to be approved by regulators in all countries for prescription. This gives GSK a bit more time gaining from its blockbuster even though Fospiro contains the same active ingredients, becaus it is a biosimilar, not a true generic.
However awful this drug major’s history of misselling may be, it does have a good pipeline of medicaments.
*Telefonica‘s takeover bid for Royal KPN‘s E-plus mobile phone operation will be investigated by the EU competition authorities by May 14. It may reduce price competition in Germany. And TEF faces another EU probe in Ireland where it wants to sell to Hutchison Whampoa (of Hong Kong) its Irish cellular operator. Here the ruling will come March 24. In my view, European regulators are blocking the rise of global players by their focus on competition within member country borders. National licenses are interfering here with European integration.
