Telefonica Improves Offer For E-Plus
Telefonica's increased bid for E-Plus, the German unit of KPN, was supported by KPN's largest shareholder, Carlos Slim Helu and his company America Movil, improving its odds for success. The stock market is inching higher in early trading as a plunge in factory orders last month made investors cautious. BATS Global Markets Inc and Direct Edge Holdings said they would merge in a deal that would create the second-largest U.S. stock exchange. Financial terms of the transaction, which is expected to close in the first half of 2014, subject to regulatory approvals, were not announced.
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