State Grid to buy Brazil transmission firms
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China's business press carried the following stories on Wednesday. China.org.cn has not checked the stories and does not vouch for their accuracy.
State Grid to buy Brazil transmission firms for US$1.7 bln—21st Century Business Herald
China State Grid has agreed to buy seven Brazilian transmission companies from Spanish firms Cobra, Elecnor and Isoluxv in a US$1.72 billion deal. It will be the largest ever investment by a Chinese company in Brazil.
The deal is subject to the approval of Brazilian power department.
Before this deal, the biggest Chinese buyout in Brazil was East China Nonferrous Metal Prospecting Bureau's US$1.22 billion purchase of an iron ore project in this March.
Hanvon launches TouchPad—jrj.com.cn
China's E-book maker Hanvon launched a portable tablet computer called the TouchPad today in Beijing, in a bid to take on Apple's iPad.
The TouchPad, featuring Intel's latest chip and Microsoft Windows 7, is targeted at businessmen and is in the same price bracket as the iPad.
Hanvon said it plans to cooperate with Intel and Microsoft to roll out a complete product line.
Hanvon is also in talks with China Telecom on the development and sale of a 3G version of the TouchPad, said Zhang Zhijun, president of Hanvon.
Mining giants to lift ore prices for third quarter—Beijing Times
Vale SA, BHP Billiton Ltd., and Rio Tinto may raise iron ore prices to US$160 a ton for the third quarter, even though the spot price has dipped sharply.
"Lower domestic demand for steel has dragged spot iron ore prices down, as a range of policies to curb the sizzling housing market have started to have an impact," said an analyst at Beijing Lange Steel Information Research Center. "Ore prices are unlikely to rebound since steel makers are unwilling to buy iron ore and domestic dealers are selling ore at lower prices."
