PARIS, July 25 (Reuters) – France’s biggest private
broadcaster TF1 on Thursday reported a milder than
forecast 17-percent slide in quarterly profit and reiterated a
full-year sales target already reduced to reflect the weak
Its shares surged 9 percent on relief that its 48.4 million
euro ($64.06 million) second-quarter profit – as well as a 5
percent drop in second quarter advertising revenue – were ahead
PARIS, July 23 (Reuters) – Vivendi SA’s
long-flagged deal to sell its controlling stake in Maroc Telecom
to Abu Dhabi-based Etisalat is just the first step in the French
conglomerate’s bet that it can remake itself as a media-focused
Vivendi said on Tuesday it had entered into exclusive talks
to sell its majority stake in Maroc Telecom to Etisalat
for 4.2 billion euros ($5.54 billion) in cash.
LONDON/PARIS (Reuters) – French conglomerate Vivendi is set to announce the sale of its 53 percent stake in Maroc Telecom to Dubai-based Etisalat in one of the biggest emerging market deals this year, three sources with direct knowledge of the situation said.
Vivendi is expected to sell its stake for around 4.2 billion euros ($5.5 billion), close to its current market value. The board met on Monday to discuss the deal and go over quarterly results.
LONDON/PARIS, July 22 (Reuters) – French conglomerate
Vivendi (VIV.PA: Quote, Profile, Research) is set to announce the sale of its 53 percent
stake in Maroc Telecom (IAM.CS: Quote, Profile, Research) to Dubai-based Etisalat
ETEL.AD in one of the biggest emerging market deals this
year, three sources with direct knowledge of the situation said.
Vivendi is expected to sell its stake for around 4.2 billion
euros ($5.5 billion), close to its current market value. The
board met on Monday to discuss the deal and go over quarterly
PARIS (Reuters) – A former IT analyst from banking group HSBC (HSBA.L: Quote, Profile, Research, Stock Buzz) who provided prosecutors with data on thousands of accounts said in an interview he hoped a Franco-Spanish tax avoidance probe would widen to other countries.
Pursued since 2009 by Switzerland on charges of stealing data from his former employer, Herve Falciani told Reuters he hoped French authorities will team up with prosecutors in countries ranging from Greece to Germany.
PARIS, July 10 (Reuters) – France has launched a
double-pronged effort to harness insurers’ deep pockets to boost
lending to underfunded small- and mid-sized companies (SMEs),
seeking to ease their longtime reliance on bank funding.
The initiatives echo efforts elsewhere in Europe to bolster
funding for SMEs, where a lack of capital is seen as a drag on
economic recovery. In Britain the government has tried various
initiatives including its flagship Funding for Lending
programme, with mixed results.
PARIS/LONDON, July 9 (Reuters) – Morocco wants Gulf telecom
operator Etisalat to take on a local partner as a
condition of backing its bid to buy Vivendi’s 53
percent stake in Maroc Telecom, said three sources
familiar with the matter.
The Moroccan state owns 30 percent of the kingdom’s biggest
mobile and fixed communications provider and so must approve
Vivendi’s choice of buyer.
PARIS/LONDON (Reuters) – Three private equity firms have submitted bids to acquire France’s leading funeral services firm OGF, sources familiar with the matter said on Monday.
Lion Capital, TDR Capital and Pamplona Capital Management have all made it through to the second round of bidding for the funeral operator owned by buyout firm Astorg Partners. CVC has also been cited as a potential bidder on the deal, which is being managed by Goldman Sachs, bankers said.
PARIS/LONDON (Reuters) – Their birth heralded the longest phase of economic growth in living memory. Now, 65 years on, wealthy “Baby Boomers” are doing the feeble global economy another good turn, according to some fund managers.
Millions of newly-retired Europeans, North Americans and Japanese are breaking open bulging pension pots, spelling big profits for investors who can spot the companies best placed to cater to their spending habits.
PARIS (Reuters) – Shareholders in French directories company Pages Jaunes (PAJ.PA: Quote, Profile, Research, Stock Buzz) on Wednesday resoundingly rejected activist investor Guy Wyser-Pratte’s attempt to get himself and an ally named to its board as independent directors.
Wyser-Pratte, who has been critical of U.S. private equity firm Cerberus’s role at the directories company, received just 16 percent of shareholders’ votes, while his colleague Pierre Nollet got only 5.5 percent.