LONDON: For global technology investors, deal-making is set to be one of the biggest investment opportunities of 2017, and they may have the new US president to thank for it.
Tech companies are one of the biggest accumulators of offshore capital. According to some estimates, Apple Inc, Microsoft Corp, Cisco Systems Inc, Oracle Corp, and Alphabet Inc hold a combined US$486bil offshore, as of Sept 30. Donald Trump has suggested cutting taxes on companies’ accumulated offshore earnings from the current 35% to 10%, in order to encourage companies to shift cash back to the US.
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