Thai company Central Group is completing the last steps to buy up Rocket internet-backed fashion retail site Zalora in Thailand and Vietnam, according to news site TechCrunch. TechCrunch cited a source saying that Central Group spent $10 million for each operation, but neither Zalora nor Central Group has made a comment. With the sale of operations in Vietnam and Thailand, two of its 11 markets in Asia-Pacific, Rocket aims to cut costs and focus on markets where it is "on the verge of profitability," according to the source. Central Group has a strong presence in Thailand and has been expanding in Vietnam, Malaysia, Indonesia, and other countries. The group’s assets, which include multiple shopping malls and department stores, are worth almost $10 billion and it employs some 70,000 people globally. In Vietnam, Central Group is among the possible buyers of the Big C supermarket chain that the current owner Groupe Casino is putting on sale. Upon a successful bidding, Big C … [Read more...] about What is Central Group’s plan for Vietnam after its Rocket acquisition?
Casinos for mobile phones
Quoc Hung Diep Dung, chairman of Saigon Co.op, told the Daily on the phone on Friday night that Saigon Co.op was informed by Casino that it has passed the first round of the bidding. However, Dung said he did not know how many bidders had gone through the first round. International media reported that over 10 domestic and international enterprises entered the first round of bidding by the March 10 deadline. Besides Saigon Co.op, there are two other local bidders and Masan was one of them. Nonetheless, whether or not they were chosen for the next round is unknown. The Wall Street Journal reported hours before Dung confirmed Saigon Co.op’s entry into the next round with the Daily that that Casino is reviewing the bids and would choose around five companies to conduct due diligence. These companies are required to show fully financed offers in around mid-April. Big C assets in Vietnam were reportedy estimated at over US$1 billion. Dung said Saigon Co.op is serious … [Read more...] about Saigon Co.op enters next round of bid for Big C Vietnam
Volumes of patent decisions from the Official Gazette of the U.S. Patent and Trademark Office sit at the headquarters' public search facility in Alexandria, Virginia. Across the river from Reno’s casino district, above an Italian restaurant, you can find the little-known company that says it "invented the mobile Internet." Unwired Planet Inc. has 16 employees and no products. What it does have is a portfolio of more than 2,000 patents, mostly acquired from Ericsson AB, which it says on its website are "considered foundational to mobile communications." The Nevada-based firm wants more than just recognition. Next week it takes on three of the world’s biggest technology companies -- Samsung Electronics Co., Huawei Technologies Co. and Google Inc.-- in a London courtroom for the first of six sprawling patent trials that will last more than a year. For the phone-makers, the cases are little more than a nuisance. They say in court documents that Unwired Planet is seeking … [Read more...] about The ‘inventor’ of the mobile internet takes on Google, Samsung
Big C. Photo: Diep Duc Minh South Korea’s Lotte Group is among suitors that submitted bids for French retailer Casino Guichard-Perrachon SA’s Vietnam grocery business, which could fetch as much as $800 million, people with knowledge of the matter said. Billionaire Charoen Sirivadhanabhakdi’s TCC Holding Co. and Central Group, controlled by Thailand’s Chirathivat family, also submitted first-round offers by the March 10 deadline, the people said, asking not to be identified as the information is private. Casino is selling assets in Asia and Latin America to cut debt, while focusing on price and convenience in its largest market, France, as it competes for growth amid weak consumer spending. Any deal would follow Casino’s agreement last month to sell control of Thai supermarket chain Big C Supercenter Pcl to TCC Holding for 3.1 billion euros ($3.5 billion). A representative for Casino didn’t immediately answer a phone call seeking comment. A … [Read more...] about Casino’s Big C Vietnam stores said to draw Lotte, TCC bids
Both the Ho Chi Minh City and Hanoi markets, which reopened Monday after the Tet (Lunar New Year) holidays, broke through crucial support levels amid light trading as investors remained on the sidelines, dealers said. The Ho Chi Minh Stock Exchangeâ€™s VN-Index slid 5.69 points, or 1.88 percent, to close at 297.52, edging below the 300-point support level that had held for fairly long. Less than 5 million shares were traded. In HCMC, all sectors except utilities declined. Information technology was the VN-Indexâ€™s biggest drag, falling 3.9 percent. Software maker and mobile-phone distributor FPT Corporation, partly owned by Deutsche Bank AG, lost VND2,000, or 4 percent, to close at VND48,500. The Hanoi-based companyâ€™s board member Nguyen Diep Tung will begin to sell 440,000 shares tomorrow to trim his holding to 1.8 million shares, according to a statement on the exchangeâ€™s website. Truong Duy Khiem, head of an ACB Securities branch in HCMC, said that though the number of … [Read more...] about Market remains cautious, falls below key support level