France reneges on plan to sell Thomson; privatization panel deals blow to Daewoo's bid to lead in electronics
Article Abstract:
The Oct 1996 decision to sell Thomson SA to Lagardere Groupe and Daewoo has been reversed by France's independent privatization commission. French union leaders have lobbied against the sale to Daewoo, fearing that the acquisition would lead to significant job losses in the French consumer-electronics business sector. Thomson is comprised of Thomson-CSF and Thomson Multimedia. Thomson-CSF is the profitable defense arm of France, and its sale is vital to the French government's desire to reconstruct its defense sector. Thomson's consumer-electronics company, Thomson Multimedia, however, is deep in debt. The seven-page report issued by the privatization commission expresses concern over 85% of the sale going to the consumer arm, Thomson-CSF, while no binding provisions were made on behalf of the employees of the less profitable Thomson Multimedia. The commission also objects to the acquisition of Thomson's flat-screen and digital television technology, which was financed in part by the French government.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1996
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Japanese 'big bang' is leading to big boon for U.S. high-tech; financial deregulation spurs huge computer outlays; local firms left behind; why sun rises in the east
Article Abstract:
The US computer industry stands to benefit from large Japanese financial companies' swift move to computerization. The trend coincides with Japanese Prime Minister Ryutaro Hashimoto's 'Big Bang' deregulation reforms scheduled to begin in 1998. Japanese financial companies will invest $33 billion in computer systems in the year 2000, compared to nearly $10 billion in 1996 and a projected $11.3 billion in 1997, according to International Data. Japanese computer companies lack the financial services technologies or network development experience of their US counterparts, so the Japanese firms are soliciting American computer companies. This represents a significant opportunity for US businesses in a traditionally difficult Japanese market. US computer software and computer exports to Japan in 1996 grew by more than one-third and nearly 20% respectively, according to the US Commerce Department. By comparison, the same two categories are expected to grow by one-third and nearly 20% respectively in 1997.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1997
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Argentina kicks off privatization drive; U.S. firms among bidders for Entel phone system
Article Abstract:
Empresa Nacional de Telecommunicaciones (Entel), Argentina's government-owned telephone company, is following the international communications industry trend toward privatization. Argentina is accepting bids from companies for the acquisition of Entel, which is being divided into two components. These northern and southern halves each get half of Buenos Aires, which has two-thirds of Argentina's telephone lines. Sixty percent of each half of Entel is for sale to other companies; 25 percent is allotted for public offerings; 10 percent is available for purchase by Entel's employees, and the remaining five percent can be bought by local telephone cooperatives. Bids received exceed the floor established by the Argentinian government and the successful bidders are to be announced Jun 28, 1990. Argentina is quickly privatizing its airlines, oil fields and other energy companies and railroads also.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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