Asian Briefs

Reuters reports that Citigroup and Japanese broker Nikko Cordial Corp. have shelved plans – that were announced last year – to raise a nearly $1 billion private equity buyout fund. The report said the firm’s prefer to use their own capital.

Press reports say that Softbank of Japan has joined in a media takeover battle for control of Fuji Television network. Softbank’s venture capital unit, Softbank Investment Corp., has apparently reached a five-year agreement to lease a nearly 14% stake in Fuji TV from its current owner, Nippon Broadcasting Systems.

Singapore-based Temasek made an equity investment in Malaysia’s Alliance Bank, through a joint venture called Vertical Theme Berhad. This is believed to be the first time a foreign interest has been granted permission to hold more than 20% of a Malaysian company.