Kuok must bid for Hong Kong paper

Kerry Group, controlled by the Malaysian billionaire Robert Kuok, is to make a mandatory offer for the South China Morning Post, Hong Kong's largest English-language newspaper. The company is obliged to make the offer after its media division increased its stake to 40.4%. It originally acquired more than a third of the paper in 1993 from Rupert Murdoch. The Post, once considered to be the world's most profitable newspaper, has lost almost a fifth of its ad revenue since June when the Hong Kong stock exchange stopped requiring corporate announcements to be printed in full in newspapers. (Via FT.com)