PARIS (Reuters) – French advertising agency Publicis warned it would be “very difficult” to meet its annual target of 4 percent organic sales growth after a second-quarter slowdown caused in part by the failure of its planned merger with Omnicom in May.
Publicis said on Tuesday its second-quarter sales fell 1.76 billion euros ($2.5 billion) from 1.79 billion a year earlier, missing an analysts’ forecast of 1.88 billion euros, according to Thomson Reuters I/B/E/S.
ZURICH/PARIS July 21 (Reuters) – Cement makers Holcim
and Lafarge have received more than 100
expressions of interest in assets they must sell ahead of their
planned merger, the Swiss company’s chief executive said on
The two companies proposed a multi-billion euro series of
asset sales two weeks ago in their efforts to get regulatory
approval for the planned merger, unveiled in April, which would
create a combined group with $44 billion in annual sales.
MADRID/PARIS, July 16 (Reuters) – Telefonica will
sell 750 million euros ($1 billion) in bonds that convert to
Telecom Italia shares, it said on Wednesday,
effectively loosening its grip as largest shareholder.
In a notice to Spain’s market regulator, Telefonica said the
bonds, which pay 5.25 to 6 percent interest a year, would mature
in three years but could be converted at any time before that or
paid in cash if conditions are met.
LISBON, July 16 (Reuters) – Portugal Telecom has
been forced to take a cut in its share of the merger with
Brazil’s Grupo Oi after a holding company of the
Espirito Santo family failed to repay more than $1 billion it
owed to the telco.
Portugal’s largest telecoms services group said it would
take legal action to try and recover the debt from the family
company, Rioforte, which fell due on Tuesday.
STOCKHOLM, July 7 (Reuters) – Sweden’s Tele2 has
agreed to sell its Norwegian mobile telecoms business to rival
TeliaSonera for 5.1 billion Swedish crowns ($744
million), in a deal that will test the resolve of competition
regulators amid a wave of telecoms industry consolidation.
The sale follows Tele2′s loss in December of an auction of
key mobile frequencies that it needed to power its Norwegian
mobile network of some 2,000 antennas, leaving it without a
clear way forward in its third-biggest market.
PARIS (Reuters) – Vincent Bollore, the largest shareholder of Vivendi (VIV.PA: Quote, Profile, Research, Stock Buzz) and its new chairman, said the company would face major challenges and powerful competitors as it seeks to become an integrated media group.
Bollore, who owns 5 percent of Vivendi, will be the key decision maker as the company seeks to forge a coherent whole out of its three remaining businesses after selling off three units, including French telecom operator SFR, in a two-year overhaul.
PARIS (Reuters) – Bouygyes (BOUY.PA: Quote, Profile, Research, Stock Buzz) will gain more financial muscle to support its flagging telecoms business as a result of a deal agreed at the weekend to sell most of its holding in engineering group Alstom (ALSO.PA: Quote, Profile, Research, Stock Buzz) to the French state.
Martin Bouygues, the 62 year-old tycoon who runs the politically influential construction-to-television group founded by his father, has chalked up a win on the Alstom takeover saga only two months after losing a battle to buy larger mobile operator rival Vivendi’s (VIV.PA: Quote, Profile, Research, Stock Buzz) SFR.
PARIS/LONDON, June 19 (Reuters) – If Vivendi was to
draw up a personal ad to find its perfect partner it would read:
“Freshly divorced from telecoms, 160-year-old holding
company seeks attractive media businesses to spark growth.
Pitches welcome, contact major shareholder Vincent Bollore.”
PARIS (Reuters) – The French government still wants to reduce the number of mobile telecom operators in the national market to three from four to bring an end to the “destructive spiral” of falling prices, Economy Minister Arnaud Montebourg said on Thursday.
“Our position is to work towards a return to three operators,” Montebourg told a telecoms conference organized by Les Echos newspaper.
PARIS (Reuters) – France’s third-placed mobile operator Bouygues Telecom plans to get rid of 17 percent of its staff, or some 1,516 workers, in a bid to cut costs to ensure its independence in a turbulent market where prices fell by one-third last year.
Olivier Roussat, who heads the telecoms arm of the family-controlled conglomerate, also acknowledged that sale talks held with potential buyers – low-cost player Iliad and leader Orange – were no longer ongoing.