Mexican financier David Martinez agreed to acquire a stake in Telecom Argentina SA in a $960 million deal, pitting him against the mobile-phone business of Carlos Slim in South America’s second-biggest economy.
Yoox SpA Chief Executive Officer Federico Marchetti said the online retailer is looking at acquisitions to bolster its business, though it isn’t in talks currently to buy Cie. Financiere Richemont SA’s Net-a-Porter.
Swiss stocks rose for a second day, trimming a weekly decline, as U.S. President Barack Obama met House Republican leaders, fueling optimism they will agree on raising the debt limit to avoid a default.
Banca Monte dei Paschi di Siena SpA, Italy’s third-biggest bank, pledged to cut an extra 3,360 jobs and increase capital to win European Union support for 4.1 billion euros ($5.6 billion) in aid. The shares surged.
An Italian Senate committee recommended that former Prime Minister Silvio Berlusconi be expelled from parliament for violating anti-corruption laws, allowing for a decisive vote in the full chamber in coming weeks.
The Libyan Investment Authority raised its stake in UniCredit SpA to 2.59 percent from 2.08 percent after buying about 100 million shares, Il Sole 24 Ore reported, without saying where it got the information.