One of the top five shareholders of UK music group HMV today slammed last night's £762m (€1.1bn) takeover approach from buy-out group Permira as totally undervaluing the company.

The shareholder, which asked not to be named, said: "We agree with the HMV board. Permira's bid completely undervalues the company."

Permira's HMV approach slammed as 'too low'

Nicholas Lockley

Citigroup

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The hedge-fund founder is asking triple what he paid for the Bali-inspired Manalapan estate in 2017.

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The announcement comes as USS Investment Management said it won’t bid for the property firm.

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The U.S. private-equity firm said t decided not to begin a tender offer for the Japanese software company after consulting with Fuji Soft founder Hiroshi Nozawa.

Successful firms are increasingly split between behemoths with several business lines and those focusing on their roots of buying companies.

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The Chinese technology giant has begun tests to integrate homegrown startup DeepSeek’s AI model into its Weixin messaging app.

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Tencent Shares Hit More Than Three-Year High as App Launches DeepSeek Testing

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