| 5°C Dublin

In brief: Liberty to close TV3 deal within weeks


John Malone, Liberty Group

John Malone, Liberty Group

John Malone, Liberty Group

Liberty Global will buy TV3 within weeks, it is understood.

 Liberty, owned by Irish-American John Malone (left), is close to finishing the due diligence process it must complete before buying the station. The seller is private equity group Doughty Hanson, which bought it in 2006. TV3 was hit this year by the loss of soaps 'Coronation Street' and 'Emmerdale', which moved to UTV Ireland, but has kept about 90pc of overall viewers.

Two Irish firms in top 20 M&A advisers

Two Irish law firms have been recognised among the top 20 advisers to Europe's biggest deals for the first six months of the year, according to market research company Mergermarket.

A&L Goodbody came 15th. The mergers and acquisitions it worked on during the first half of the year were worth $47bn (€41bn). Arthur Cox came 16th, advising on deals worth $46bn. The top firm was British group Freshfields, which advised on $167bn worth of transactions.

Turning to Irish deals, William Fry and Arthur Cox led the league table for volume of deals. Both advised on 10 M&A deals during the period.

China relaxes rules on global e-commerce

China will increase support for cross-border e-commerce as the world's second-largest economy shifts from manufacturing to higher-value services, the government said over the weekend.

China's e-commerce industry has been booming, with companies like Alibaba and JD.com benefiting from a rising middle class with more disposable income. The government released policy guidelines on Saturday that included tax rules aimed at boosting domestic consumption and pilot projects to ease overseas payments.

They followed Friday's news that China will allow full foreign ownership of some e-commerce businesses.

Irish Independent