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* XM Satellite Radio Holdings Inc. said it had agreed to buy privately held WCS Wireless in a stock deal worth $198 million, giving it additional frequency to broaden its offerings into such areas as video.
* Bechtel confirmed that it had agreed to sell its 42.5% stake in an Indian power plant for $160 million, settling all legal claims in a long-running dispute with the Indian government.
* In a move to exploit China’s fast-growing market, FedEx Corp. said it would close its Asian hub in the Philippines and replace it with a new $150-million facility in Guangzhou in southern China.
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