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Articles by French billionaire
Canal Backed By French Billionaire Plans Jse Listing After Multichoice Takeover
Groupe Canal S.A. Canal, the media arm of Vivendi and part of French billionaire Vincent Bollores Bollore Group, is pressing ahead with plans for a secondary inward listing on the Johannesburg Stock Exchange JSE after taking full control of MultiChoice Group Ltd. The move follows the French media companys successful takeover of MultiChoice Group , a household name in African broadcasting. Delisting and new listing
Canal Backed By French Billionaire Revamps Leadership Eyes Canal Africa Launch
Groupe Canal S.A. Canal , the media arm of Vivendi and part of French billionaire Vincent Bollores Bollore Group, has completed its mandatory takeover of Johannesburg-listed MultiChoice, marking the largest acquisition in its history and opening a new chapter under the banner of Canal Africa. The R35 billion 2.02 billion deal, priced at R125 7.23 per share, gives Canal control of South Africas pay-TV leader. As of Sept.
Pandaily's Digest | Sep 4, 2024
Recently, there have been rumors that the 'iPhone 16 may not support WeChat.' Apple's technical consultant for China stated that they are currently in discussions with Tencent regarding the app store commission. Link ByteDance Reportedly Seeking a $9.5 Billion Loan ByteDance is reportedly seeking a loan of $9.5 billion, poised to be the largest dollar-denominated corporate loan in Asia, excluding Japan.
IBM China Investment Company and Subsidiaries to Cease Operations on March 1
According to Chinese media outlet Jiemian citing unnamed sources, IBM has announced internally that IBM Commercial Machine (China) Investment Co., Ltd. and its subsidiaries will cease operations starting from March 1, 2025, with related office spaces also being discontinued.
ByteDance Unveils Trae AI IDE for Chinese Developers
ByteDance has officially launched its latest innovation for the developer community—Trae AI IDE, designed to integrate AI into Chinese development environments, aiming to enhance coding efficiency and streamline the programming process. Initially released as a Mac version, Trae AI IDE quickly expanded to Windows to cater to a broader audience of developers.
Baidu Acquires YY Live from Joyy Inc. for $2.1 Billion
On February 25, 2025, after a four-year tug-of-war, Baidu announced that it had reached an agreement with Joyy Inc. to acquire the latter’s video entertainment live streaming business in mainland China (i.e., YY Live), for a total purchase price of approximately $2.1 billion. Although the purchase price was 42% less than the original agreement, the market generally considered it a “mutually beneficial” transaction, as seen from the reactions of both parties’ stock prices and fund flows.
TikTok E-commerce Sets 400% Growth Target in the United States for 2025
According to the Chinese media outlet Jiemian citing anonymous sources, prior to the upheaval in the United States, TikTok’s e-commerce had already set a goal to grow by 400% in the US this year. Currently, the fastest-growing categories for TikTok e-commerce in the US are home goods, with health products also showing good growth.
Douyin Launches In-app Ride-Hailing Service
On January 24th, Douyin officially launched its “Ride-Hailing” service. The service can be accessed through a somewhat hidden entrance on the personal page under “My Wallet,” alongside options like mobile top-up, utility bill payments, and car owner services. Upon clicking “Ride-Hailing,” users are directed to AMap Ride-Hailing, the platform through which the main services are provided.
ByteDance Establishes Overseas Short Drama Team, Launches Short Drama App "Melolo"
ByteDance has recently established an overseas short drama business team and is recruiting relevant personnel in Beijing, Shanghai, Shenzhen, and other locations, including positions such as short drama product managers, short drama operations staff, and short drama scriptwriters. ByteDance has also launched an overseas short drama app called “Melolo,” emphasizing a free model, marking ByteDance’s first short drama product to go abroad.
ByteDance's Zhang Yiming Becomes the First Self-Made Chinese Billionaire Born in the '80s
On Tuesday, the Hurun Research Institute released the 2024 Rich List. 1,094 entrepreneurs with personal wealth above 5 billion yuan made it onto this year’s Hurun Rich List, a decrease of 12% (147 people) from last year. The total wealth of the listed entrepreneurs is 21 trillion yuan, down 10% from last year. The number of entrepreneurs with a wealth of over 100 billion yuan decreased by 4 from last year, to 26.
ByteDance Reportedly Seeking a $9.5 Billion Loan
On September 2nd, as reported by Chinese media outlet Yicai, ByteDance is reportedly seeking a loan of $9.5 billion, poised to be the largest dollar-denominated corporate loan in Asia, excluding Japan. This news comes on the heels of reports from last month that ByteDance was seeking a $5 billion loan for refinancing over a three-year term, a claim which ByteDance chose not to comment on.
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