Alibaba’s Interest in Sina’s Weibo Denied, SBA Buys Brazilian Towers: Merger and Acquisitions Update
Chatter that the Chinese social networking firm Sina Corporation (NASDAQ:SINA) will see the e-commerce major Alibaba purchasing a 15- to 20 percent interest in its micro blogging service, Weibo, were quashed by the former, says China Daily.
The third-biggest gold producer in Canada, Kinross Gold Corporation (NYSE:K), refuted on Wednesday a statement from Southridge Enterprises (SRGE.PK) that the two are partnering to develop the Cinco Minas and Gran Cabrera properties in Mexico. The latter had said that the firms are working to finalize an agreement, but no one immediately responded to e-mail and voicemail messages asking for comments over the statement from the former, which said via e-mail that, “Kinross has not entered into a joint venture agreement with Southridge Enterprises and is not actively pursuing any such agreement at this time.”
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Berkshire Hathaway (NYSE:BRKB) divests the two short-line railroads it found that it owned in the fall to satisfy regulators who might have reviewed its 2010 acquisition of the BNSF railroad. The company advised the Transportation Department’s Surface Transportation Board earlier in December that it had recently completed the sale of both short-line railroads ahead of schedule. Had Berkshire reported owning those lines when it bought Burlington National Sante Fe, the Surface Transportation Board would have scrutinized the transaction.
SBA Communications Corporation (NASDAQ:SBAC) reported Wednesday it has initiated operations in Brazil and that on December 20th, it acquired 800 freestanding wireless towers from one of the top broadband wireless carriers in that country. The purchase price was R$362.8 million from cash on hand and borrowings under SBA’s revolving credit facility. The firm expects these assets to produce roughly R$19 to R$23 million in tower cash flow for the full calendar year 2013 and also be immediately accretive to AFFO per share.
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