Vodafone Group is reportedly in talks to sell its 55 per cent stake in Vodafone Egypt Telecommunications Co., for an estimated £3 billion.

South Korean sovereign wealth fund Korea Investment Corp has reportedly said that it is considering an investment in Chesapeake Energy Corp.

National Grid, the operator of the UKÔÇÖs power and gas networks, has reported a 12 per cent rise in annual profits to ┬ú2.2 billion.

Canadian aerospace specialist H├®roux-Devtek has announced that it has won orders worth $16 million to supply landing gear components for large US air force and US navy aircraft.

China National Petroleum Corp., ChinaÔÇÖs biggest energy company, has agreed to acquire a 35 per cent stake in Royal Dutch ShellÔÇÖs oil and gas unit in Syria, in a deal that could be worth up to $1.5 billion.

Research In Motion and China Telecom are teaming up to launch sales of the BlackBerry, it has been announced.

UK mobile phone giant Vodafone has announced that group net profits almost trebled to £8.6 billion in the 12 months to March 31.

JapanÔÇÖs Astellas Pharma has agreed to buy OSI Pharmaceuticals for $4 billion in cash, having raised its bid by 11 percent.  As a result of the deal, Tokyo-based Astellas will gain the worldÔÇÖs fourth best-selling lung cancer medicine and a US sales team for oncology drugs. Melville, New York-based OSI, which was founded in 1983, will give Astellas the Tarceva drug for cancer, a disease area the Japanese company has identified for growth.

Alliance Boots, the UKÔÇÖs biggest pharmacy and beauty products company, has posted annual profits of ┬ú1 billionÔÇöonly the third UK retailer to do so.

China Investment Corp. (CIC) and Penn West Energy Trust have entered into an oil sands partnership worth $817 million, and an equity investment worth $435 million.  Under the joint venture, Penn West, which is CanadaÔÇÖs number two energy trust, will put up $1.8 billion worth of oil sands assets in exchange for a 55 per cent stake in the joint venture. CIC will then pay $817 million for a 45 per cent stake.