quinta-feira, 1 de outubro de 2009

Poder financeiro e midiático mais concentrado na Kinross?

Poder financeiro e midiático mais concentrado na Kinross?

Por Sergio U. Dani, da Alemanha

A agência de notícias Reuters divulgou dia 23 a mais recente deglutida
envolvendo mega-fundos de investimentos que têm participação na
Kinross Gold Corporation (símbolo na NYSE: KGC). O gestor de fundos
BlackRock (símbolo na NYSE: BLK) recebeu a aprovação da União Européia
quarta-feira passada para a aquisição de uma unidade de investimento
do Barclays (símbolo na NYSE: BCS) de US$15,5 bilhões em dinheiro e
ações. A aquisição eleva o BlackRock à posição de maior gestor de
dinheiro do mundo, com US$2,8 trilhões de fundos de clientes. A nova
companhia combinada será chamada de BlackRock Global Investors.


Nesse movimento de concentração de estatura dinosáurica, nem mesmo a
própria agência Reuters fica de fora. Esse mês a Reuters acertou a
compra do Hugin Group BV, uma empresa norueguesa especializada na
distribuição de press releases institucionais até agora controlada
pela NYSE Euronext. O valor da transação não foi divulgado. A
informação publicada através da plataforma Euronext aponta para a
conclusão da operação no quarto trimestre de 2009, estando ainda
sujeita à aprovação dos reguladores.

Originária do Canadá e com sede em Nova York, a Thomson Reuters Corp.
(símbolo na NYSE: TRI) é líder mundial no setor da informação
financeira profissional. O gigante de informação financeira foi
formado em abril de 2008, quando a Thomson Corp. comprou o Reuters
Group, uma companhia de 156 anos de serviço, por U$17,2 bilhões. Com
50 mil empregados e operando em quase 100 países, o novo gigante
controla 30% da informação financeira e mercados de informação na
América do Norte e 38% na Europa. O faturamento do ano passado foi de
US$13,4 bilhões, com lucros de US$3,3 bilhões, o que deu um retorno
aos acionistas de US$1,91 por ação.

Os negócios mais lucrativos da Reuters estão concentrados nos serviços
para a comunidade financeira, agora em expansão agressiva para a China
e a Índia. Entre os gestores financeiros e contábeis da Reuters
encontram-se: BofA Merril Lynch, Barclays Capital, Deutsche Bank
Securities, HSBC, Morgan Stanley, RBS, UBS Investment Bank, BMO
Capital Markets, Citi, Credit Suisse, Goldman Sachs & Co., Jefferies &
Company, JP Morgan, RBC Capital Markets, Standard Chartred Bank e TD
Securities.

Confira o caso BlackRock na reportagem da Reuters e o caso REUTERS na
reportagem de TheStockAdvisors.

======================================================

BlackRock gets EU approval for buy of Barclays' BGI
REUTERS — September/23/2009

BRUSSELS, Sept 23 (Reuters) - U.S. fund manager BlackRock (Symbol :
BLK) gained European Union regulatory approval on Wednesday for its
acquisition of a Barclays (Symbol : BCS) investment unit for $13.5
billion in cash and shares.

The planned buy of Barclays Global Investors will elevate BlackRock
(Symbol : BLK) to the world's largest money manager with $2.8 trillion
of client funds. The new combined company will be called BlackRock
Global Investors.

The European Commission, competition watchdog of the 27-country
European Union, said in a statement that the deal raised no
competition concerns even though there were overlaps in several
services including retail asset management.

"The Commission's market investigation confirmed that although the
combined firm would be a significant player in a number of the
sectors, its market shares would remain relatively limited," the EU
executive said in a statement.

The deal will give BlackRock (Symbol : BLK) exposure to
exchange-traded funds, which allow investors to buy assets such as
precious metals or foreign stocks easily.

Barclays (Symbol : BCS) will gain much-needed capital from the sale to
bolster its balance sheet, having relied on support from Middle
Eastern governments rather than Britain's to help it through the
credit crunch.

BlackRock (Symbol : BLK), founded 20 years ago as a bond investment
firm, has managed to sidestep the toxic assets and vehicles that have
laid low many competitors. The U.S. government selected BlackRock
(Symbol : BLK) to manage troubled assets from Bear Stearns and
American International Group Inc (Symbol : AIG/PA) . (Reporting by
Bate Felix; Editing by Dale Hudson)

==================================================
Good News For Thomson Reuters (NYSE: TRI)
By: TheStockAdvisors.com Monday, April 20, 2009 12:43 PM

"Some companies are managing very well now and quietly laying a
foundation for solid earnings growth when the recovery gets underway,"
says Tom Slee.

The analyst with stockadvisors.com/ccount/click.php?id=3056">Internet
Wealth Builder adds "A few even offer a good yield while we wait." One
such company, he believes is Thomson Reuters Corp. (NYSE: TRI).

"I particularly like Thomson Reuters. It's low key and not terribly
exciting, but by paying a $1.12 dividend to yield 4.1% the stock
should provide investors with an excellent long-term return. Here's
some background.

"On April 17, 2008, Thomson Corp. acquired Reuters Group, a
156-year-old news service company, for $17.2 billion and created a new
financial information giant.

"With 50,000 employees and operating in almost 100 countries, the new
combined corporation controls 30% of the North American and 38% of
European financial information and data markets.

"In addition, the company provides extensive legal, regulatory, tax,
science, and health care information services through its electronic
networks. Last year revenues totaled US$13.4 billion and generated
earnings of US$3.3 billion, equal to US$1.91 a share.

"The major news here was, of course, the friendly Reuters takeover. As
one pundit pointed out, it was an old-fashioned merger designed to
benefit both parties, not some desperate rescue package or
consolidation.

"Perhaps surprisingly, there was almost no business overlap. Reuters
was, to a large extent, a news organization. Thomson sold its last
newspaper chain years ago. Nevertheless, the companies expect to save
more than US$500 million per annum after three years through
synergies.

"The important thing, though, is that TRI is in the right business.
The days of lawyers, doctors, or pharmacists wading through piles of
circulars to keep themselves up to date are long gone. Time is of the
essence and they use on-line databases provided and updated by
Thomson.

"It's a growth industry, not entirely recession-proof, but certainly
shielded during the economic downturn. Even more lucrative are TRI's
on-line services to the financial community, now being aggressively
expanded into China and India.

"The company is fundamentally strong with almost $1 billion in cash on
the balance sheet and a projected US$2 billion cash flow in 2009. The
bonds are rated A-, an investment grade, by Standard & Poor's and
Dominion Bond Rating Service.

"One question mark is the Thomson family's voting control, although in
fairness this has never been a problem for the small shareholders.
Indeed, some analysts think that this personal involvement bolsters
corporate governance.

"Looking ahead, TRI is bound to be hurt this year by the downturn in
investment activity as institutions and brokers retrench but a lot of
its services are now essential to the professional community and
provide a solid earnings base.

"At the same time, savings from the Reuters merger will continue to
boost profit margins. All things considered and assuming that the
recession is going to deepen, profit could dip to about $1.50 a share
in 2009 but a recovery to the $2 range is likely in 2010.

"Given this, I am setting an initial target of $42 which, based on
next year's forecast, is a 17 earnings multiple. To put that in
perspective, Thomson's P/E has averaged more than 26 over the last 10
years. Further, given the company's healthy cash flow and light
refunding requirements, we could see dividend increases."

--
Sergio Ulhoa Dani, Dr.med., D.Sc.
Göttingen, Germany
Tel. 00(XX)49 15-226-453-423
srgdani@gmail.com