ORANGE OFFERS TO BUY SPAIN'S JAZZTEL

Orange made a $4.3 billion offer for Spanish broadband and cellphone operator Jazztel, raising its bet in one of the euro-zone's fastest-growing economies.

ASTRAZENECA, ELI LILLY TO PARTNER ON NEW ALZHEIMER'S DRUG

AstraZeneca and Eli Lilly said that they would jointly develop a risky experimental Alzheimer's drug that could rake in as much as $5 billion in annual sales, but that stands just a 9% chance of success.

RUSSIA'S MAIL. RU BUYS REMAINING STAKE IN VKONTAKTE

One of Russia's top Internet companies Mail. Ru has bought the remaining 48% stake in the country's most popular social network VKontakte for $1.47 billion.

ALIBABA RAISES IPO PRICE RANGE

Alibaba Group Holding raised the price range for its initial public offering to $66 to $68 per share, up from the current $60 to $66 a share, and didn't increase the number of shares that can potentially be sold

AIRBUS TO SHED SOME DEFENSE BUSINESSES

Airbus said it would sell defense assets as the company focuses increasingly on its successful commercial-airplanes business.

GM'S OPEL HUNKERS DOWN IN RUSSIA

Opel, the German unit of General Motors, plans to reorganize its operations in Russia where demand for new cars has slumped amid a worsening domestic economy.