Yancoal Australia to Buy Cloucester
Yanzhou Coal Mining Co (NYSE: YZC, SHA: 600188, HKG: 1171), China's third biggest coal producer by market value, plans to buy Australia's Gloucester Coal Ltd for at least $2 billion, Bloomberg reported, citing a person with knowledge of the matter. The cash-and-stock bid for Gloucester, which has a market value of $1.4 billion, will be made by Yancoal Australia, Yanzhou Coal's Brisbane-based unit, the person said. Buying Gloucester would give Yanzhou Coal access to mines and ports in Australia, the world's biggest coal exporter. Any deal will need support from the Sydney-based company's controlling shareholder, Noble Group Ltd, which last month reported its first quarterly loss in 14 years.
China Mobile Gets 2.7m 3G Customers in Nov
China Mobile Ltd (NYSE: CHL, HKG: 0941) said it attracted 5.43 million customers, including 2.68 million 3G service subscribers, in November, bringing the total numbers to 644 million and 48 million respectively.
China Unicom Gets 3.4m 3G Customers in Nov
China Unicom Ltd (NYSE: CHU, SHA: 600050, HKG: 0762) said it attracted 3.38 million 3G service subscribers and 214,000 2G service subscribers in November, bringing the total numbers to 36.53 million and 160 million respectively.
Baidu Launches Own Smartphone
Baidu.com Inc (NASDAQ: BIDU), China's most used search engine, launched a handset that uses its cloud technology. The phone is co-developed with Dell Inc (NASDAQ: DELL) and backed by Baidu's Yi platform for mobile terminals and software.
Nationz Partners with Microsoft
Nationz Technologies Inc (SHE: 300077), a Shenzhen-based integrated circuit maker, said it signed a letter of intent with Microsoft Corp (NASDAQ: MSFT) for a partnership in information security and trusted computing.
Hengrui's Injection Approved by US FDA
Jiangsu Hengrui Medicine Co (SHA: 600276) said its Irinotecan hydrochloride has been accredited by the US FDA, paving the way for the product to hit the American market. It is the first Chinese injection accredited by the US FDA.
Datong Coal Spends ¥500m Registering 2 Firms
Datong Coal Industry Co (SHA: 601001) said it plans to spend ¥300 million setting up a subsidiary to make active carbon, and ¥200 million setting up a unit to trade metals, iron ore, coke, timber and steel.
Morn Electric to Set Up Leasing Unit
Morn Electric (SHE: 002451) said it plans to spend ¥198 million setting up a financing and leasing company to offer engineering machine leasing and repair services.
$1 = ¥6.34
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