Reuters: Mergers News: PRESS DIGEST - Hong Kong - May 30

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PRESS DIGEST - Hong Kong - May 30 May 30th 2012, 02:15 HONG KONG | Tue May 29, 2012 10:15pm EDT HONG KONG May 30 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy. SOUTH CHINA MORNING POST - Telecom tycoon Richard Li, chairman of PCCW Ltd has launched a bid for ING Group NV's Asia insurance and asset management businesses, according to sources. The Dutch financial giant last month announced plans to sell the two units together or separately and has invited companies to submit bids. People familiar with the situation said Li was looking at both. - United Energy Group Ltd, a Hong Kong-listed oil and gas company, plans to invest up to $3 billion in wind and solar power projects in Pakistan in the long term, Chairman Zhang Hongwei said. - Yihaodian, the mainland e-commerce service controlled by the American retail giant Wal-Mart Stores Inc, plans to uncork growing domestic demand for imported wine by bringing brands from the world's top wine producers to its online shopping platform. HONG KONG ECONOMIC JOURNAL - Jewellery retailer Chow Sang Sang Holdings International Ltd may lower its target for new retail outlets this year due to slower industry growth and rising rents, said group General Manager Vincent Chow. THE STANDARD - Footwear maker Belle International Holdings Ltd said sales rebounded in April and May from the first three months of the year but still lagged behind last year's 15 percent growth, said Chief Executive Sheng Baijiao. For Chinese newspapers, see............... Link this Share this Digg this Email Reprints

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