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In Brief

In Brief

Wistron sues Samsung over laptop patents
WASHINGTON, D.C.
Wistron Corp. sued Samsung Electronics Co., the world's second-biggest maker of computer chips, seeking a ruling that it doesn't use Samsung's patented technology in laptop computers or that the patents are invalid.
Samsung has indicated it may sue over technology used in laptops Wistron makes for Acer Inc., Wistron said in a complaint in federal court in San Francisco. Wistron, based in Hsinchu, is Acer's former manufacturing unit and makes the company's Travelmate brand laptops.
In August 2006, Samsung "embarked on an improper campaign of threats to file a baseless patent-infringement lawsuit against Wistron for the purpose, and intended effect, of disrupting the sale of Travelmate PCs in the U.S.," Wistron said in the complaint, filed September 14.
China IPO sets record
SHANGHAI, China
China Construction Bank, the country's biggest property lender, has raised 58.05 billion (US$7.7 billion) in mainland China's biggest initial public offering so far, state media reported yesterday.
The bank, which already has shares traded on the Hong Kong stock exchange, priced its Shanghai share offering of 9 billion shares at 6.45 yuan (US$0.86) a share due to record subscriptions. The IPO far exceeded the 46.6 billion yuan raised in the Shanghai tranche of a dual share offering by the Industrial and Commercial Bank of China in October 2006.
Massive demand for shares, especially from retail investors, has helped push Shanghai's benchmark Composite Index up by more than 100 percent since the beginning of the year.
Lender shares rise
LONDON, England
Shares in troubled mortgage lender Northern Rock rose for a second day on Tuesday as a run by depositors appeared to have abated.
The government intervened on Monday to assure depositors that their money was safe, and lines outside Northern Rock branches shrank.
Northern Rock shares gained 7 percent in early trading on the London Stock Exchange yesterday, after gaining 8.2 percent on Tuesday.
Other mortgage lenders, whose shares were caught in a sell-off on Monday, gained more ground.
Alliance & Leicester, which saw its shares drop 15 percent on Monday, was up 7 percent on top of a 33 percent gain on Tuesday. Bradford & Bingley, another major mortgage lender which dropped 11 percent on Monday, rose 10 percent, following a 6 percent rise on Tuesday.
Laos stock exchange
SEOUL, Korea
Korea Exchange Inc., the operator of South Korea's stock exchange, signed a preliminary agreement with the government of Laos to set up an exchange in the Southeast Asian country.
Korea Exchange and Laos will set up the bourse as a joint venture by 2010 and will list state-run companies, Korea Exchange said in an e-mailed statement yesterday.
Hilton sale approved
LOS ANGELES, California
Hilton Hotels Corp. shareholders approved the company's US$20.1 billion sale to The Blackstone Group LP, the hotel operator said Tuesday.
Under terms of the buyout, Blackstone will pay Hilton shareholders US$47.50 per share in cash. Including assumed debt, the total deal is valued at US$26 billion.
Shares of Hilton Hotels rose US$0.14 to US$46.12 during afternoon trading. Blackstone Group shares rose US$0.23 to US$23.88.
The transaction must still pass regulatory approval.
Beverly Hills-based Hilton Hotels operates more than 2,800 hotels around the world. The company generated US$8.11 billion in revenue last year.


Updated : 2021-10-20 22:42 GMT+08:00