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Monday, February 21, 2011

PRESS DIGEST - Wall Street Journal - Feb 21

The following were the top stories in The Wall Street Journal on Monday. Reuters has not verified these stories and does not vouch for their accuracy. * Diageo is close to buying Turkish spirits company Mey Içki for between $2 billion and $2.5 billion, a deal that would give the U.K. alcohol giant access to a vast distribution network Turkey. * Deals website Groupon appears to be making preparations to launch operations in China, a move that could shake up the market for group buying. * Richard Ong, one of Hopu Investment Management's founding partners, is leaving the China-focused private-equity firm to set up his own $2 billion fund, according to people familiar with the situation.

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