IN BRIEF (Page 24)

Smartwatch to go head to head with Apple

Mobvoi Inc, the Chinese artificial intelligence startup backed by Google Inc, intends to go toe to toe with Apple Inc when it begins selling its smartwatches in the United States in September. The startup founded four years ago by a coterie of former Google employees is hoping US consumers will take to the second generation of Ticwatch, which made waves back home via voice-activated natural language search and innovative features like a touch-sensitive strip for scrolling. The new version responds to questions in English and will let US users order pizzas, hail Uber taxis and pick out restaurants on Yelp.

HNA secures 96% of Swiss Gategroup

HNA Group said on July 27 it had secured acceptances for 96.1 percent of the shares in its bid for Gategroup Holding AG, the Swiss in-flight catering provider. Gategroup said that payment for the shares was expected toward the end of the third quarter or beginning of the fourth quarter. After the settlement, HNA intends to submit an application to delist Gategroup's shares and for an exemption from certain disclosure and publicity obligations in accordance with the listing rules of the SIX Swiss Exchange, the principal stock exchange in Switzerland.

Probe into iron ore dumping urged

Chinese miners are calling for an anti-dumping probe into iron ore imported from Australia and Brazil, according to the Metallurgical Mines' Association of China, which is to file an application with the Ministry of Commerce on behalf of more than 20 major companies. Overseas miners have been selling large quantities of iron ore to China "at low prices", which "has and will continue to do substantial harm to the domestic industry", the association said.

CGN wins French wind power deal

China General Nuclear Power Corp has partnered with French new energy company Eolfi on a winning tender for a floating wind power project in France. A consortium led by CGN European Energy and Eolfi won the 24-megawatt project, which will be in waters off Groix Island in Brittany. French authorities also approved a bid by French renewable energy company Quadran Group for another 24-mW floating wind farm off the Mediterranean coast at Gruissan.

LeEco to buy TV producer Vizio for $2b

LeEco Global Ltd said on July 26 it will acquire Vizio Inc, a TV manufacturer in the United States, for $2 billion in cash. It took the two companies three years to reach an agreement, under which Vizio's hardware and software businesses will be operated as a wholly owned subsidiary of LeEco Holdings Ltd, while the data business, Inscape, will operate as a separate, privately owned company. LeEco Global will own a 49 percent stake of Inscape, and William Wang, founder and CEO of Vizio, will own a 51 percent stake.

AMC to buy Carmike Cinemas

AMC Entertainment Holdings Inc, controlled by Chinese billionaire Wang Jianlin, sweetened its offer to buy US-based Carmike Cinemas Inc by about 10 percent to $1.2 billion in cash and stock after some shareholders spurned an earlier bid. Carmike shareholders will get the choice of receiving either $33.06 in cash or 1.0819 shares of AMC's Class A common stock, Leawood, Kansas-based AMC said in a statement on July 25. The deal also includes the assumption of Carmike's net debt.

(China Daily Africa Weekly 07/29/2016 page24)