Proactive Investors UK – Shares in Et-china.com International Holdings LTD (AIM: ETC) got an enormous boost today from news that Kuoni Travel Holding Ltd has bought the 31.8 percent stake in the company that was held by hedge fund Gandhara Master Fund Ltd. Financiasl details were not disclosed

At mid-morning, Et-China was trading up nearly 65 percent from yesterday’s closing level.

In a statement, the group said it considers the acquisition of Gandhara’s shares to be in Et-China’s best interests given the expected synergistic benefits and the global expertise of Kuoni.
 
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New York Times Blogs – Turns out hedge funds will not have to publicly disclose their secret strategies after all, at least not any time soon.

The reprieve for the industry came late Wednesday. The Securities and Exchange Commission quietly said it would relent on an emergency order, first issued Sept. 19, that would have required hedge funds to publicly disclose vast amounts of detail on their short positions, which are the bets they make against individual stocks.

Hedge fund managers and their lobbyists in Washington immediately attacked the order, saying it amounted to making the Coca-Cola Company disclose its top-secret formula.

Many hedge funds would simply cease to operate, the argument went. Others would go to great lengths to avoid the rule, including by setting up offshore affiliates and conducting trades through complex swap agreements.

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