Kassel, Germany - Germany's BASF chemicals and oil group announced Monday a takeover bid for Norwegian oil and gas group Revus Energy ASA that values it at 581 million euros (726 million dollars).
The BASF oil division, Wintershall, offered 110 Norwegian kroner per share, a premium of 145 per cent above the closing price in Oslo last Friday and 44 per cent above the average of the past six months.
An announcement at Wintershall's office in Kassel said the board of Stavanger-based Revus had recommended shareholders accept the bid for all Revus shares.
Moscow - Georgian President Mikheil Saakashvili, facing domestic criticism over a failed war with Russia, on Monday dismissed his prime minister and named the country's ambassador to Turkey as his replacement.
He was expected to announce a new cabinet this week in what he said were needed "radical democratic reform" Monday.
Meanwhile, the country's influential former head of parliament Nino Burjanadze formed a new opposition party set to vehicle growing criticism of Saakashvili's management of the war.
Frankfurt - Rare Volkswagen shares commanded giddying prices Monday on the Frankfurt Stock Exchange after Porsche announced it was within sight of
75-per-cent control of Europe's biggest carmaker.
The stock spiked 200 per cent before settling to 520 euros at the close of electronic trading, up 146 per cent from Friday.
Analysts said it was not luxury car-maker Porsche that was paying the high price, but short sellers who had expected the stock to fall in value and suddenly needed to settle contracts.
Helsinki - Economic output in Iceland was estimated to drop some 10 per cent next year, the prime minister of Iceland said Monday.
"We are going to get through this crisis and move on," Prime Minister Geir Haarde told reporters before a meeting of Nordic prime ministers in Finland.
Haarde said he hoped the cash-strapped North Atlantic nation will be able to get loans from its Nordic neighbours.
Paris - Despite a steady early session on Wall Street, French shares began the week with another weak performance on Monday, with banking shares leading the decline.
The Paris Bourse's CAC blue-chip index ended the day off by 3.96 per cent, at 3,067.35, with declining issues outnumbering winners by about 12 to 1.
New York - United Nations Secretary General Ban Ki-moon on Monday expressed "extreme concern" over increasing attacks on UN peacekeepers and civilians in the Democratic Republic of Congo's northern provinces.
Ban cited the situation in North Kivu, Rumangabo and Goma, where a local armed group called the National Congress for the Defence of People attacked UN peacekeepers and government military troops, in violation of a ceasefire.
Kassel, Germany - Germany's BASF chemicals and oil group announced Monday a takeover bid for Norwegian oil and gas group Revus Energy ASA that values it at 581 million euros (726 million dollars).
Moscow - Georgian President Mikheil Saakashvili, facing domestic criticism over a failed war with Russia, on Monday dismissed his prime minister and named the country's ambassador to Turkey as his replacement.
Frankfurt - Rare Volkswagen shares commanded giddying prices Monday on the Frankfurt Stock Exchange after Porsche announced it was within sight of 
Helsinki - Economic output in Iceland was estimated to drop some 10 per cent next year, the prime minister of Iceland said Monday.
Paris - Despite a steady early session on Wall Street, French shares began the week with another weak performance on Monday, with banking shares leading the decline.
New York - United Nations Secretary General Ban Ki-moon on Monday expressed "extreme concern" over increasing attacks on UN peacekeepers and civilians in the Democratic Republic of Congo's northern provinces.
