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Latest Business News: Batista Exit From MPX Begins Breakup of EBX Empire

Wochit 0:52 mins

Brazilian billionaire Eike Batista's EBX Group, a once high-flying industrial conglomerate, began breaking up, the latest victim of a decade-long commodities boom that has come to a screeching halt. Embattled billionaire Eike Batista stepped down as chairman of MPX Energia SA as dwindling market confidence forced the Brazilian power producer to scrap a planned share offering. According to reports, John Malone?s Liberty Global is considering pulling out of the bidding for Kabel Deutschland, Germany?s largest cable operator. Europe?s antitrust authorities could block any deal that further strengthens Malone?s Euro cable empire.

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