Grains of truth

The China Post - - WORLD BUSINESS -

it’s time to re­new our fo­cus on our found­ing mission to connect the world through games and our vi­sion to make play and so­cial games a mass mar­ket ac­tiv­ity,” Pin­cus said in a state­ment.

“I am re­turn­ing to the com­pany that I love in or­der to ac­cel­er­ate in­no­va­tion in the most popular cat­e­gories like Ac­tion Strat­egy and strengthen our fo­cus on our core ar­eas like In­vest and Ex­press.”

Last year the two com­pa­nies an­nounced plans to cre­ate a ce­ment ti­tan em­ploy­ing more than 130,000 peo­ple, which would gen­er­ate an­nual sales of 32 bil­lion eu­ros (US$34 bil­lion) and un­der­ly­ing prof­its of 6.5 bil­lion eu­ros -- a ma­jor event in the global con­struc­tion in­dus­try.

The merger still must be ap­proved by twothirds of share­hold­ers at each of the two com­pa­nies at spe­cial gen­eral as­sem­blies.

In March the two com­pa­nies rene­go­ti­ated the ex­change ra­tio for the merger -- nine Hol­cim shares for 10 La­farge shares -- af­ter the sharp rise in the Swiss franc drove up Hol­cim’s value.

An­a­lysts with Von­to­bel warned Thurs­day that “re­cent news flow re­gard­ing the share­hold­ers op­po­si­tion” to the merger in­di­cated the chance of the deal go­ing through had dropped to just 50 per­cent from its pre­vi­ous es­ti­mate of 75 per­cent.

Olsen him­self said Thurs­day the merged com­pany, if ap­proved, would be head­quar­tered in Switzer­land’s fi­nan­cial cap­i­tal of Zurich.

He and his fam­ily would also be based in the city near the Alps, he said, which was good since “I love ski­ing.”


In­dian farm­ers thresh the har­vested wheat crop at a vil­lage on the out­skirts of Beawar, about 184 kilo­me­ters south­west of the cap­i­tal Jaipur in west­ern Ra­jasthan state on Thurs­day, April 9.

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