French startup Iliad saw shares plummet 13% on Thursday, following the company’s buyout offer for T-Mobile US. Despite Iliad’s drop in shares, which is the largest decline for the company in eight years, T-Mobile saw shares jump 6.5% after the announcement. The bid of $15 billion for 56.6% of the US telecommunications business goes up against an impending $32 billion deal T-Mobile made with Sprint earlier this summer.
Alibaba has agreed to invest $120 million in mobile game company Kabam, a move that will allow the Chinese tech giant to reach more users ahead of its expected IPO in September. The anticipated public offering could be the world’s largest in the technology space. Sard Verbinnen & Co., Brunswick Group, and Hill+Knowlton Strategies are supporting Alibaba with IPO communications.
Chrysler Group reported a 20% increase in US sales for the month of July, which is the largest increase for the summer month the automaker has seen since 2005. Chrysler, part of Fiat, attributes much of the growth to its Jeep brand. Analysts believe Nissan and General Motors will post sales jumps of at least 11% for July.
As the outbreak of the Ebola virus continues to worsen in West Africa, the head of the World Health Organization and leaders from West African nations are meeting on Friday to announce a $100 million response plan. The plan will include improved communication around the virus and how it can be prevented and detected, as well as an increase in resources to affected areas. The WHO has been posting updates about the virus on its website, Facebook, and Twitter.