Lion Capital’s tender offer for Fondul Proprietatea (FP.RO) shares ended by getting it about 49% of the stake sought, after the price offered, RON0.68/share, led to a fast-paced increase in its price on the market, which quickly came close to the offer price.
Bitcoin’s 12-day ETF outflows, derivatives data and the crypto market in tandem trading with tech stocks suggest traders will continue to cut exposure to risk assets. Key takeaways: Heavy outflows from Bitcoin exchange-traded funds and massive liquidations show that the market is purging highly leveraged buyers. Bitcoin options metrics reveal that pro traders are hedging for further price drops amid a tech stock sell-off. Read more
Spanish group Inditex, a leading player in global fashion, is closing the Zara and Stradivarius stores within the Shopping City Timisoara, developed in western Romania by retail real estate company NEPI, according to sources close to Ziarul Financiar (ZF) daily.