Ming Yang Smart Energy Group Ltd. is considering building a wind turbine factory in Spain after the UK blocked the Chinese company’s plans for a facility in Scotland, citing risks to national security. The wind turbine maker has been hiring in Europe in recent months to build up a local presence and secure orders in a market that’s set to grow rapidly in the coming decades. Manufacturing in the re...
Ming Yang Smart Energy Group Ltd. is considering building a wind turbine factory in Spain after the UK blocked the Chinese company’s plans for a facility in Scotland, citing risks to national security. The wind turbine maker has been hiring in Europe in recent months to build up a local presence and secure orders in a market that’s set to grow rapidly in the coming decades. Manufacturing in the region will be key to its ability to secure business there, according to Horatio Evers , chief executive officer of Ming Yang Europe. “We are talking to many project developers in the market. The request for additional competition in the market is there,” Evers said in an interview. “Localization is a key enabler for us to sell turbines in the European market.” The offshore wind market in Europe is primarily served by Denmark’s Vestas Wind Systems A/S and Germany’s Siemens Energy AG . Ming Yang’s entrance would boost competition and potentially bring down the cost of electricity. But it also threatens to shake up the one green power industry served by European firms while China has dominated technologies like batteries and solar panels. A Ming Yang factory in Spain would potentially produce blades for offshore wind turbines as well as equipment known as nacelles, which contain the main mechanical components of the turbine, Evers said. The company is scouting sites for a facility, but hasn’t finalized a location. Spain’s Prime Minister Pedro Sanchez met with Ming Yang Chairman Zhang Chuanwei on a recent trip to Beijing, signaling that the country would be receptive to the firm’s investment. But the nation isn’t a major market for offshore wind farms, with plenty of land to build cheaper onshore projects. That means the Chinese firm will need to secure orders elsewhere in Europe, which could prove difficult. Germany would be of interest for the company, but it isn’t being pursued currently, Evers added. With the UK, Europe’s biggest market for offshore wind, effectively shut of...
Key PointsThe benchmark S&P 500 and tech-driven Nasdaq Composite just reached all-time highs, with the Nasdaq enjoying its longest winning streak of the century.
Key PointsThe benchmark S&P 500 and tech-driven Nasdaq Composite just reached all-time highs, with the Nasdaq enjoying its longest winning streak of the century.
The technology, media and telecommunications sector has been behind the world’s largest public M&A deals and could be on course to deliver a fresh record. Bloomberg News reported Tuesday that Deutsche Telekom AG and its American arm T-Mobile US Inc. are discussing the creation of a new holding company that would make a stock bid for shares of both carriers. Such a transaction would bring companies...
The technology, media and telecommunications sector has been behind the world’s largest public M&A deals and could be on course to deliver a fresh record. Bloomberg News reported Tuesday that Deutsche Telekom AG and its American arm T-Mobile US Inc. are discussing the creation of a new holding company that would make a stock bid for shares of both carriers. Such a transaction would bring companies with a combined market capitalization of around $380 billion under one roof — establishing a merged entity with greater heft to potentially pursue acquisitions. That would result in the largest-ever public M&A deal, according to data compiled by Bloomberg show. It would top America Online Inc.’s monster acquisition of Time Warner Inc. for roughly $186 billion including debt, and Vodafone AirTouch Plc’s takeover of Mannesmann AG for a similar amount — both of which completed around the turn of the millennium. To be sure, a tie-up between Deutsche Telekom and T-Mobile would likely face numerous hurdles, with the companies potentially needing to make strong commitments to their respective home markets. The German government, which holds a stake in Deutsche Telekom, would also need to give its support to any deal. Read More: Telecom Megamerger Would Supercharge Transatlantic M&A Spree
Microsoft Corp. must face a UK class action trial over allegations it abused its dominant position in the market to overcharge businesses that used the Windows Server operating system and Azure, an antitrust tribunal has ruled. Judges at London’s Competition Appeal Tribunal said the lawsuit on behalf of around 59,000 businesses and organizations had “reasonable prospects of success.” If successful...
Microsoft Corp. must face a UK class action trial over allegations it abused its dominant position in the market to overcharge businesses that used the Windows Server operating system and Azure, an antitrust tribunal has ruled. Judges at London’s Competition Appeal Tribunal said the lawsuit on behalf of around 59,000 businesses and organizations had “reasonable prospects of success.” If successful, the lawsuit could see a payout of more than £1.7 billion ($2.3 billion), the claimants have estimated. Microsoft will appeal the decision and also dispute the underlying allegations, the company’s spokesperson said on Wednesday. “Today’s decision makes no final determination on those claims.” The ruling comes weeks after the UK’s antitrust watchdog started an investigation into Microsoft’s business software ecosystem to decide whether licensing practices for products such as Word, Excel and Copilot need tighter regulation. The evidence from the watchdog’s investigation could help prove that Microsoft’s licensing practices distorted competition and caused loses to cloud computing users, the judges said in the ruling. “For years, Microsoft’s practices have had real financial impact on both public and private organizations,” Maria Luisa Stasi, the lead representative for the claimants, said. The claim is funded by LCM Funding UK Ltd, a unit of Australian litigation financing firm Litigation Capital Management Ltd. .