Advertisement
Singapore markets closed

  • Straits Times Index

    3,176.51
    -11.15 (-0.35%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • FTSE 100

    7,895.85
    +18.80 (+0.24%)
     

  • Bitcoin USD

    63,217.87
    -230.18 (-0.36%)
     

  • CMC Crypto 200

    1,382.48
    +69.85 (+5.32%)
     

  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     

  • Dow

    37,986.40
    +211.02 (+0.56%)
     

  • Nasdaq

    15,282.01
    -319.49 (-2.05%)
     

  • Gold

    2,406.70
    +8.70 (+0.36%)
     

  • Crude Oil

    83.24
    +0.51 (+0.62%)
     

  • 10-Yr Bond

    4.6150
    -0.0320 (-0.69%)
     

  • FTSE Bursa Malaysia

    1,547.57
    +2.81 (+0.18%)
     

  • Jakarta Composite Index

    7,087.32
    -79.50 (-1.11%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

Novartis to prepare the sale of its Roche stake, paper says

Reuters

VIENNA (Reuters) - Drugmaker Novartis (NOVN.S) aims to dispose of a 13.5 billion Swiss franc ($13.8 billion) stake in its local rival Roche (ROG.S) and has already hired banks to support the selling process, a Swiss paper reported on Sunday.

The world's biggest prescription drugmaker started building up the stake - worth 33 percent of Roche's voting shares - as a basis for a possible merger more than a decade ago, but the plan never materialised.

Novartis plans to sell the stake in a so-called order book process, having banks collect purchase offers within a predefined price range from selected investors, weekly Sonntagszeitung said, citing board and banking sources.

A Novartis spokesman declined to comment on the report.

($1 = 0.8909 euros)

($1 = 0.9781 Swiss francs)

(Reporting by Kirsti Knolle; Editing by Alison Williams)