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Metro shares, which have gained 16 percent this year on speculation of a possible bid for the company and news on divestments, were up 0.6 percent after the Reuters report types of cufflinks. “Initial excitement about a bid premium will soon be replaced by worries about hollowing out the business and removing one of the few paths for sustainable growth,” said Bernstein analyst Bruno Monteyn. Metro has 95 stores in China and real estate assets in major centers, such as Beijing and Shanghai, one of the sources said..
Apart from Alibaba, there are other parties involved in early discussions with Metro, according to the sources, with an official sale process expected to kick off soon. Metro Chief Executive Olaf Koch said on Tuesday that the German firm was reviewing potential partnerships with local players in China. Metro and Alibaba have already partnered in online retail in China. “We are growing continually and we are profitable there,” Koch said when Metro presented first quarter earnings types of cufflinks. Metro reported that same store sales in Asia rose a currency adjusted 7 percent to 1.04 billion euros ($1.17 billion) in the October to December quarter..
KUALA LUMPUR (Reuters) – Roger Ng, a former Goldman Sachs Group Inc banker caught up in the 1Malaysia Development Berhad (1MDB) fraud scandal, will be allowed to return to the United States to face criminal charges against him there, a Malaysian court ruled on Friday. Ng has been detained in Kuala Lumpur since Nov types of cufflinks. 1, shortly after the U.S. Department of Justice (DoJ) announced charges against him for allegedly laundering funds siphoned off from the 1MDB sovereign wealth fund. He left Goldman Sachs in 2014..
Ng had agreed to waive extradition and would be sent to the United States pending an order from the Malaysian home affairs ministry, judge Edwin Paramjothy Michael Muniandy said in a Kuala Lumpur court on Friday. His lawyer, Tan Hock Chuan, asked for the order to be issued within 30 days types of cufflinks. It must be issued within three months under Malaysian law. Ng had reached an agreement with the DoJ on bail and other terms, Tan said. “The respondent intends to defend the case on its merits in the court of the Eastern District of New York, the United States,” Tan told the court..
Marc Agnifilo, Ng’s New York-based lawyer, told Reuters ahead of the hearing that his client intended to plead not guilty when he appeared in a U.S. federal court. Ng is facing separate criminal charges in Malaysia but it is unclear how they will affect his transfer types of cufflinks. The attorney-general’s office did not respond immediately to a request for comment. Tim Leissner, another Goldman Sachs official, and Malaysian financier Low Taek Jho have also been charged in the United States over the alleged theft of billions of dollars from 1MDB. Leissner has pleaded guilty..