Investors have doubted the sale will be completed since plans were first announced in September dragging Zain's stock 30% lower. However, the naming of the financial advisors showing talks are ongoing, drove the telecomm's shares 4.2% higher on Tuesday at KWD1.0 (USD3.509/EUR2.340).

The buyer will pay KWD2 per share or some USD13.7bn in total for the 46% shareholding, in one of the biggest overseas acquisitions of a Gulf region company, Kharafi has said.

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The deal, subject to approval from the regulators, is expected to come to an end in the first quarter of 2010, according to Manulife. ABN AMRO TEDA Fund Management, to be renamed as Manulife TEDA Fund Management Company Ltd., plans to seek regulatory approval for new operations in the country after the transaction.

BNP Paribas will have a 49% stake in Fortis Haitong Investment Management Co., Ltd. and a 33% ownership in SYWG BNP PARIBAS Asset Management Co., Ltd. after the disposal, disclosed people familiar with the matter, noting that the decision to sell ABN AMRO TEDA Fund is made after the Paris-based company confronted with mounting pressure resulting from an acquisition of Fortis Bank.

The French bank found itself end up with holdings in three joint-venture fund management firms in China after taking over a 75% ownership in Fortis Bank from the Belgian government earlier this May, a move that conflicts with the requirements worked out by the Chinese regulators.

All companies, no matter foreign or domestic, are not allowed to take holdings in more than two fund management firms in the country directly or indirectly, according to the China Securities Regulatory Commission (CSRC), noting that one company is only entitled to take control of one fund management firm.

BNP Paribas, which owns 33% of SYWG BNP PARIBAS Asset Management through its wholly-owned subsidiary BNP Paribas Asset Management, get holdings in Fortis Haitong Investment Management and ABN AMRO TEDA Fund Management, two fund management ventures indirectly taken by Fortis Bank, after the May 2009 acquisition.

The decision to quit ABN AMRO TEDA Fund Management is based on the size of the two Fortis Bank ventures, said an industry insider. As of June 30, 2009, Fortis Haitong Investment Management had had net assets of CNY 45.507 billion, higher than CNY 26.176 billion posted by ABN AMRO TEDA Fund Management.

(USD 1 = CNY 6.83 = HKD 7.75)

Source: www.cnstock.com (November 25, 2009)

Additional NFC-based services will also be available at local museums, cultural events and on campus at the University of Nice Sophia Antipolis. Future NFC functionality is expected to be rolled out gradually, in a bid to turn Nice into France's NFC City.

Oberthur Technologies's 'NFC Now' offering for banks and financial institutions provides an integrated solution for remote personalization, PIN management and EMV parameter updates. The NFC solution is compliant with the latest standards for mobile payment and is hosted by Oberthur Technologies's service centers.

Willy Dubost, senior vice president cards and merchant services at BNP Paribas, said: "Following the Payez Mobile initiative, it is important for BNP Paribas to be recognized as a leading innovator in the NFC payment market and the bank is looking forward to showcasing its service in Nice in early 2010.

"Together with Oberthur Technologies we have strengthened our existing partnership in order to create and implement a comprehensive solution which facilitates secure NFC payment."

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