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Orange and MasMovil signed a $19 billion merger agreement in Spain

Orange and MasMovil have signed a binding agreement for the integration of services in Spain. The collaboration is expected to test the European Commi

Orange and MasMovil have signed a binding agreement for the integration of services in Spain. The collaboration is expected to test the European Commissions commitment to integration. The combined company will generate annual sales of more than €7.3 billion and core corporate profits of more than €2.2 billion. The Spanish merger is based on an enterprise value of 18.6 billion euros $19 billion, including MasMovils 10.9 billion and Orange Spains 7.8 billion, the company said. Read More..

B2B Tech News | 2 years ago

CMA freezes Unilevers stake in tea company

The Capital Markets Authority CMA has terminated the transfer of the majority of Unilevers shares to Rimurucha. It also banned US private equity funds

The Capital Markets Authority CMA has terminated the transfer of the majority of Unilevers shares to Rimurucha. It also banned US private equity funds from buying out minority investors in publicly traded companies. The move disrupted global transactions of 596.7 billion lei $5.1 billion. The minority shareholders claim that Unilever is selling raw materials such as fertilizers and labor to Rimuru at exorbitant prices. The CMA is also investigating the companys alleged understatement of revenue and delay in collecting tea sales. Unilever has acquired the global tea business of CVC Capital Partners for Sh596.7 billion $5.1 billion. Read More..

B2B Tech News | 2 years ago

Google Ogles Cloud Extension for Latin America

Google plans to open a new cloud region in Mexico to meet growing global demand for cloud services. This comes a month after the cloud giant pledged t

Google plans to open a new cloud region in Mexico to meet growing global demand for cloud services. This comes a month after the cloud giant pledged to invest $1.2 billion over five years to expand Latin Americas digital infrastructure. Google Cloud says this extension will allow onpremises customers to enjoy the highest standards of low latency and data consistency and residency. López highlighted the companys efforts to improve digital technology and educational opportunities for the Mexican tech industry. CEO Sundar Pichai added that the full adoption of digital technologies is expected to generate an economic impact of approximately $1.37 trillion in the six largest Latin American economies by 2030. Read More..

B2B Tech News | 2 years ago

NGX strengthens its efforts to attract young investors

The Nigerian Exchange Limited NGX has vowed to intensify efforts aimed at attracting young investors to the stock market and addressing perennial issu

The Nigerian Exchange Limited NGX has vowed to intensify efforts aimed at attracting young investors to the stock market and addressing perennial issues constituting disincentives to financial technology fintech firms. From 2014 to 2020, for instance, fintech raised about $600 million in funding, attracting 25 percent $122 million of the $491.6 million raised by African tech startups in 2019 second only to Kenya, which attracted $ 149 million.. The Nigerian Stock Exchange NGX has created a board that would focus on how to make the bourse more competitive by looking into the barriers to entry for tech firms. Chief Digital Officer, NGX, Femi Oyenuga said whilst the proliferation of digital assets presents significant challenges to the Nigerian capital market, the NGX takes an interest because proceeds from NFTs can solve climate change issues. The NGX is committed to driving the growth of sustainable financial products by integrating the financial risks and opportunities associated with Read More..

B2B Tech News | 2 years ago

Great Wrap raises $ 24 million to eliminate plastic waste

Startup materials science Great Wrap has closed its $24 million Series A funding round. A Melbourne company makes a compostable stretch film from food

Startup materials science Great Wrap has closed its $24 million Series A funding round. A Melbourne company makes a compostable stretch film from food waste. The cofounders hope to end the worlds dependence on petroleumbased plastic packaging. It recently expanded to a new 12,000squarefoot facility in Tullamarine. Great Wrap recently moved to a new 12,000m2 factory in Tullamarine, which will produce 30,000 tonnes of the compostable stretch wrap by the end of 2023. The cost of the project was $6.41 million, of which $500,000 was borne by the state treasury. Read More..

B2B Tech News | 2 years ago

Now ports wants to be an ally in the supply chain for trading in Latam

Alfonso De Los Ríos cofounded digital freight forwarder Nowports with Maximiliano Casal, the companys COO. Nowports recently raised $150 million in a

Alfonso De Los Ríos cofounded digital freight forwarder Nowports with Maximiliano Casal, the companys COO. Nowports recently raised $150 million in a Series C funding round, helping the Monterrey, Mexicobased company reach a $1.1 billion valuation.. The latest funding round propelled Nowports into unicorn status a startup with a value of over $1 billion, helping it become one of the most valuable startups in Mexico. The objective is to streamline the import and export processes of Latin American companies by increasing the visibility of suppliers, shipping lines, end customers, customs brokers and terminals.Nowports has operations in Mexico, Chile, Colombia, Brazil, Peru, Uruguay, and Panama and is looking for opportunities to expand overseas. Mexican financial services company, De Los Ríos, is expanding overseas as part of a larger strategy to increase its presence in North and South America. The companys CEO says there is a trend of companies moving from Asia to Latin America becau Read More..

B2B Tech News | 2 years ago

The rise in interest rates will be advantageous for European banks.

The US Federal Reserve is expected to raise interest rates by threequarters of a percentage point, as it did last month. The Fed is struggling to calm

The US Federal Reserve is expected to raise interest rates by threequarters of a percentage point, as it did last month. The Fed is struggling to calm inflation without plunging the US economy into a painful recession. European banks are starting to publish their results this week. And FTs Ben Hall spoke to Ukraines finance minister and gives us the highlights of that interview. Credit Suisse is one of the banks weve been focusing on most recently, but well be looking to see if theres any evidence of a recovery from Credit Suisses scandals and missteps. Read More..

B2B Tech News | 2 years ago

How FinFlx hopes to protect UAE gratuity payments in Generation Startup

The coronavirus pandemic caused difficulty as well as disruption on many levels across the world. Amr Yussifs experience of separation from his employ

The coronavirus pandemic caused difficulty as well as disruption on many levels across the world. Amr Yussifs experience of separation from his employer turned out to be the reason he started FinFlx, an endtoend gratuity management solution for small and medium enterprises. Gratuity payments are covered by UAE labor laws and the sum depends on an employees length of service and basic salary. The startup has raised $1.5 million in preseed funding from prominent investors such as YCombinator, Dubai Future District Fund, 500 Global, and Vectr FinTech. Amr Yussif was earning a significant salary when he sought to part ways with his employer and was owed a lot of money as an endofservice gratuity. Matthieu Capelle is a software engineering veteran and previously served as head of engineering at Careem Pay and chief architect at Murex. Read More..

B2B Tech News | 2 years ago

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