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$HPE said it agreed to sell its equity stake in Mphasis Ltd. to private equity funds managed by $BX. Under terms of agreement, $BX has agreed to purchase at least 84% of $HPE's stake in Mphasis for INR 430 per share. At the proposed price, $HPE's stake is valued at about $825MM. The transaction is expected to close in 2H16.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.