CBS Info

11/01/2021

Ladbrokes-owner Entain Plc said on Monday its Chief Executive Officer Shay Segev would leave the company, days after the gambling firm rejected an $11 billion takeover approach from U.S. casino operator MGM Resorts (NYSE:MGM) International.

Segev, who will remain in his current role for six months or until a successor is in place, intends to leave to become co-CEO of DAZN, a privately-owned global sports streaming platform.

11/01/2021

Telecoms operator Tele2 will partner with Finland's Nokia (NYSE:NOK) for the deployment of its 5G core network in Sweden and the Baltics, it said on Monday.

The Swedish company said that the new core infrastructure will support both 4G and 5G connectivity, allowing higherspeeds and lower latencies.

"We are proud to be expanding on our long-standing relationship with Tele2 as we move into the 5G era," Raghav Sahgal, President of Nokia Cloud and NetworkServices, said in a statement.

Sweden, home to Nokia's rival Ericsson (BS:ERICAs), said in October it would ban China's Huawei and ZTE (HK:0763) from its 5G rollout due to security risks.

European countries have been tightening controls on Chinese firms building 5G networks following pressure from Washington, which alleges Huawei equipment could be used by Beijing for spying. Huawei has repeatedly denied being a national security risk.

11/01/2021

U.S. banks Goldman Sachs (NYSE:GS) JPMorgan (NYSE:JPM) and Morgan Stanley (NYSE:MS) will delist 500 Hong Kong-listed structured products, following a U.S. ban on investments in companies Washington deems linked to China's military.

The products are linked to telecom companies China Mobile (NYSE:CHL), China Telecom (NYSE:CHA) and China Unicom (NYSE:CHU) and local indexes including the benchmark Hang Seng Index, the three investment banks said in filings to the Stock Exchange of Hong Kong on Sunday evening.

The delistings follow statements last week by the U.S. Office of Foreign Assets Control (OFAC) clarifying a November order from President Donald Trump that banned Americans from investing in Chinese companies that the U.S. considers to have links with China's military, the filings said.

OFAC guidance cited in some of the filings said the three telecom companies were specifically included in the initial executive order.

11/01/2021