kkr has offered to purchase telecom italia.fer is a 40% premium to friday's close but we are told that vivendi is likely to oppose the offer which it views as undervalued. the shares of the company have lost half their value in five years. the ceo of activision has reportedly told senior managers he would consider leaving if he was unable to quickly fix a culture problems of the company. he left open the possibility of stepping down. activision blizzard is facing lawsuits over claims that it's frat house culture makes it a toxic place for women to work. francine: laura wright in london. we are getting a lot more out of germany. we now see some building of the government. we will break that down for you and we will also tell you what that means going forward. this is bloomberg. ♪. ♪ >> who was going to be the chair of the fed? >> between governor brainard and chairman powell? >> not a lot of daylight. >> fed wanted terry policy is still extremely loose. >> inflation is definitely running hot. >> whoever comes in will have to tig

the telecom italia story has lifted the telecom sector across europe.e of the stay-at-home stocks, despite what is happening with covid, fading. delivery hero a big day friday. fading that move today. the cac 40 flat. austria bouncing back after friday. let's talk about what we are seeing with the session. clearly watching events in the united states with the fed. we have that move, not to session highs but beginning to fade. the stoxx 600 unchanged. 486 is where bill wrap up the day. in terms of the sectors, there is the mining sector, basic resources up 1.58%, then the telecom sector. we will talk about that in more detail. the cars are moving higher. bmw catching a reasonable bid. technology, travel and leisure, real estate, that is where the weaknesses coming through. erickson one of the factors behind the telecom move. being seen as being expensive and as a result of which it is taking a bit of a knock. marks & spencer, we come onto the m&a story. pieces in the paper in the u.k. about an apollo bid. the u.k. grocery sector firmly in focus. the real

private equity giant kkr has offered to buy telecom italia.reliminary cash officer -- offer is a 46% premium. we are told telecom italia's largest shareholder is likely to oppose the sale. japan is reported to be preparing to release accrued from its strategic stockpile as part of a joint effort with the u.s. the government has reportedly determined it can do so legally as long as it taps surplus supply. the u.k. has added key chinese that vaccines to those approved -- chinese vaccines to those approved for travel to the country. those who have received the vaccines will now be treated as fully vaccinated at the border. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. coming up, just five months before the next french presidential election, could a far right firebrand be a real threat to president macron? we will bring you our exclusive conversation with him next. this is bloomberg. ♪ tom: it is monday morning and this is "bloomberg daybreak: europe." j

the chief executive of telecom italia has offered to resign to move along the kkr offer. dime is north east asia -- daimlers northeast asia chief is expecting a very positive year next year. sadie's bends sales and china slumped in the third quarter. the shortage of semiconductors is a factor. amazon -- a fresh legal challenge. amazon alleges 1.5 billion dollars was diverted away from indebted future retail including to a company owned by one of its founders. an investigation is being demanded. that is the bloomberg business flash. tom: laura wright in london. a significant selloff in european equities with news of the covid variant. let's get into how markets are reacting and how concerned investors should be. joining us now is kristine aquino and sam. let's start on the markets. and how the repricing is shaping up across equities, commodities, and affects. how sustained -- and fx. >> the mantra is sell first and ask questions later. we are seeing this across the asset classes particularly in the emerging market. this has been battered this week by various things, geopol

telecom italia has lagged. its stock certainly bouncing back today, up by 32%. european close is next. we will carry on the conversation. peter praet, former ecb chief economist, joining us next. this is bloomberg. this is bloomberg. every day in business brings something new. so get the flexibility of the new mobile service designed for your small business. introducing comcast business mobile. you get the most reliable network with nationwide 5g included. and you can get unlimited data for just $30 per line per month when you get four lines or mix and match data options. available now for comcast business internet customers with no line-activation fees or term contract required. see if you can save by switching today. comcast business. powering possibilities. guy: european equities on the front foot, driven largely by m&a rather than news on the fed, but the euro weakening on that news. the countdown to the close starts right now. >> the countdown is on in europe. this is "bloomberg markets: european close," with guy johnson and alix steel. ♪ guy: 29 minutes to

as kkr has made a bid for takeover telecom italiaaid it is intended to be friendly. the ceo has come under pressure from top investor after two profit warnings in the same quarter. a look at the shares, 22% higher, quite a run. that means over the five year course stock is still down but 38% off its slightly better picture we're looking at a few days ago let's get out to claudia we've been looking at consolidation from one telecom company to another, and now a private entity mfirm has joined the mix. >> it is an infrastructure fund and the way they see it is they are a longer-term investor as opposed to other private equity firms but certainly their interest is interesting. what is also interesting is what's happening to the stock this morning it is up but trading at 42 cents but still off the price this friendly offer coming in from kkr is at which is 50 cents. this that tells us first of all, the stock which is down significantly, 40% since the start of the year, is actually trading close to its all-time lows which it reached weeks

in terms of the individual stories, telecom italia up another 15%.story floating around that kkr they looked up its offer for telecom italia, basically to overcome for vendee -- to overcome vivendi's concerns. mulberry climbing out of a hole. the market responding, up 22%. a big outside move. then you start to see a little bit of recovery over the last hour or so and the travel and leisure sector. that sector generally has been depressed throughout the week. i think technology is the worst performing sector. travel and leisure is the second worst performing sector. a little bit of for spite towards the end of the week. big questions that remain about what the holiday interest-rate will look like as we work our way through this huge pickup and the number of covid cases we are seeing around europe. are we going to see the holidays? what does it tell us about what comes next? giancarlo is the founder of by tourism online, the host of one of europe's largest tourism events. he also manages a floor and time hotel company, florence hotels. giancarlo, thank

two companies are said to be considering a joint bid for telecom italia.a letter, telecom italia ceo urged the board to take action on the bid. a fox come logistics arm is considering money from investors. it is in the early stages of investigating a listing in hong kong. it will use the proceeds for expansion. blackstone has become -- gun discussions over a bid. packer has yet to make any public commentary about the $6 billion offer. crown has not responded to the bid which is blackstone's third. yvonne: we are watching these moves in south africa on the back of the new variant that is emerged in many countries on the african continent. it has been a volatile week overall. the turkish lira and the mexican peso are saying that. the mexican peso is moving on the back of the chief pick when it comes to the central bank talking about the questions of independence. we have plenty more to come on daybreak: asia. this is bloomberg. ♪ this is elodia. she's a recording artist. 1 of 10 million people that comcast has connected to affordable internet in the last 10

kkr has agreed to buy telecom italia for a 46% premium to friday's close.t is likely to be opposed by telecom italia's biggest shareholder, vivendi. in germany, a warning on the coronavirus from angela merkel. she told officials from her cdu party that the latest surge in infections is worse than anything the country has experienced so far. merkel said hospitals would soon be overwhelmed unless the fourth weight of -- the fourth wave of the virus is broken. donald trump former fixer michael cohen will walk out a federal court in manhattan after completing a three-year prison sentence for tax fraud, bank fraud, violations of campaign finance laws, and lying to congress. cohen has built a business around his formal -- around his former boss, now writing a book and hosting a podcast. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm laura wright. this is bloomberg. >> every day the fed is faced with facts that undermine the thesis of inflation. that is where the pol

kkr has offered to buy telecom italia for about $12 billion in what would've been the largest telecomchasers ever. kkr's preliminary cash offer is 46% premium to friday's close however, we are told telecom italia's largest shareholder is likely to oppose the offer which saudi aramco says it will continue to look for investment opportunities in india. that comes just days after reliance scrapped plans for a sale to the saudi giant. for a potential 20% stake in the reliance oil unit. reliance says it has a long-standing relationship with aramco and will continue to look for a partner in india. softbank backed company plans to conduct test rides across india. initially, they are only open to those that have purchased or reserved scooters but the company is extending the offer to all customers. high fuel prices are having consumers consider switching to electric vehicles. >> let's take a look at how markets in asia are shaping up. we have u.s. stocks falling on friday's session given concerns about hawkish federal reserve comments. we are seeing kiwi stocks down and sydney futures are als

offer to buy telecom italia for $12 billion in the world's largest telecom purchases ever in europe by a private equity firm. preliminary cash offered 55 year, however, we are told that telecom italia's largest shareholder is likely to oppose the offer which i undervalued. egs nominated the former morgan stanley chairman to succeed faber -- weber. weber had suggested the bank consider appointing a woman as his successor to improve gender diversity on the board. deutsche bank has tapped alexander wynaendts as its next chairman to help guide as it emerges from a decade of restructuring. he is set to replace paul in may. the bank named a chief risk officer from june. the head of the international olympic committee said he held a 30 minute video call sunday with the chinese tennis star peng shuai where she ensured him she is safe. it is the latest twist. following her allegations of sexual assault against china's former vice president. lance, bring us up-to-date. lance: good morning. she held a 30 minute phone call with the president of the ioc. what was interesting about the call was it c

kkr boosting its offer for telecom italia.lia said sunday he received a preliminary bid from kkr. kkr is said to be debating whether $.70-80 cents per share would seal the deal. jp morgan has been named the world's most systemically important bank. the only bank on the list facing an additional capital buffer of 2.5%. others were ranked in the tier just below with additional buffers of 2%. the rankings are based on data from 2020 and largely reflect changes in the banks underlying activity. nordstrom tumbled in late trade after third quarter earnings missed estimates. arnie's per share were $.39, well off the analyst average of $.55. it left its full-year forecast unchanged. nordstrom said it's working to improve merchandise margins and overcome global supply chain challenges. best buy shares tumbled as the company warned its property margin -- profit margin was being hit by spiking organized robbery. it has been traumatizing for workers, slowing sales and promotional discounts are weighing on the retailers bottom line. rishaa

telecom italia said on sunday it perceived -- it received a preliminary bid by kkr.er $72.80 a share would seal the deal. a chinese real estate developer is considering an ipo for its property management business in hong kong, which could raise as much as $1 billion. sources tell us a could list as soon as the first half of 2022. jp morgan has been named the world's most systematically important bank. the lender rose one level on the rankings is the only bank on the list facing an additional capital buffer of 2.5%. hsbc and bnp paribas were ranked in the tier just below, with additional buffers of 2%. haidi: i don't think i have ever been as excited about an rbnz monetary policy meeting as i have as the second half of this year in multiple instances. this chart shows how market expectations are changing. this is their last meeting before february. given how fast inflation expectations have risen and how fast the labor market recovered, it is suggested participants in these markets that think they could go 50 basis points, not 25 that is overly baked in. 21 out of the

private equity giant kkr has offered to buy telecom italia for $12.2 billion, a 46 percent premium today's close. kkr's offer is likely to be opposed by the biggest shareholder visit andy -- shareholder vivendi. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm laura wright. this is bloomberg. ♪ >> there is it is affecting american consumers and affecting their outlook. this bill is going to be the biggest cost-cutting bill for working-class and american families indicate in this country, and it is going to be costs that are persistent problems for americans in their lives. tom: brian deese on fox news. we thank jack fitzpatrick, joining us. futures up 14. angela merkel talked about virus distress in germany and brought the futures back. dow futures up 97. lisa and i watching euro, $1.1276. weaker euro through the day. jack, i would suggest any first-term president, maybe it is a different first-term provide an, does a recalibration around the conversations of the holiday season. are we goi

flow, you can see the stock price responding the last three months still negative down 1.5% and telecom italia, it lost its fourth ceo in six years following a resignation amid continued pressure it comes a week after kkr's $12 billion takeover and euricia which has cut its guidance amid a drop in europe, they now expect an operating profit margin of 5.5% compared to 6.2% previous target. new guidance is made on the assumption that no fresh lockdowns will take place. that's one company talking about what some of the forecasts look like let's look at oil as crude prices are rebounding, having plunged $10 on friday. the seventh largest single day decline on record. morgan stanley said it expects a tight oil market next year and raised the price forecast. let's get out to dan, so many twists and turns in the story. just walk us through how the oil markets are thinking about all this >> that's right, karen and there is still a long way to go this week as well opec plus is going to be meeting on thursday to discuss their response to this new variant, and they are still discussing it, we've just had

kkr and cbc are said to be considering a joint did for telecom italia.pursuing a solo offer that has been described as too low by shareholders. now we're hearing kkr could team up to share the burden of what would be europe's biggest ever leveraged buyout. the ceo rc company board to take action on the kkr bed, offering to resign to help get across the line. that's the latest is this flash. david: it's the lunch break on mainland china. materials a little underweight, down to several other factors. pretty much read across most of these sector groups. the 50 day moving average, we didn't close above that twice. we are a little above that. shanghai is canceling some flights amid the covid impact. we did see three cases in shanghai and neighboring cities, so we will keep on top of this story. keep it here. this is bloomberg. ♪ >> it is 11:29 in hong kong and singapore. 10: between 9:00 p.m. in new york. i have your first word headlines. a new covid-19 variant first discovered in southern africa is raising fears about mutations with u.k., adding six average