France to sell up to 30% of Thomson Multimedia

Article Abstract:

The French Government agreed to sell up to 30% of state-owned Thomson Multimedia to Microsoft, Hughes Electronics's DirecTV subsidiary, Japan-based NEC and France-based Alcatel for an undisclosed amount. Terms allow for each of the four partners to buy 7.5% of Thomson Multimedia, a struggling European consumer electronics manufacturing giant, which received an 11 billion franc bailout from France in 1997. Microsoft is expected to use the deal as another means of pushing its Internet television technology. Other conditions call for Thomson to use Microsoft's Windows CE OS to display Internet text and images on television. Thomson also agreed to license and sell WebTV-enabled, set-top boxes as a Thomson product in Europe and an RCA product in the US. France completed the sale of part of a plan to reduce its budget deficit before the euro currency's 1999 debut.

Microsoft Corp., Company investment, Investments, Compagnie Financiere Alcatel, NEC Corp., MSFT, DIRECTV Inc.

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Embarrassed, France halts Thomson sale; a deal with Daewoo only stirred resentment

Article Abstract:

The French government, citing its hesitance to give France's advanced technology to a foreign country, has suspended plans to sell the state-owned electronics company, Thomson, to the Lagardere Groupe and Daewoo Electronics. In the original plan, the Lagardere Groupe would buy Thomson-CSF, the military electronics division, and then sell Thomson Multimedia, the unprofitable consumer division, to South Korea's Daewoo Electronics. Although the sale price for each division was one franc, the government planned to first pay over $2 billion to cover Thomson's debts. French Pres Jacques Chirac has promoted privatization as a way to make French companies more competitive. The public, however, is less enthusiastic about international market efficiency, which they associate with the country's high rate of unemployment.

Mergers, acquisitions and divestments, France, Lagardere Groupe S.A., Company Acquisition/Merger, Daewoo Electronics Company Ltd.

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Philips to pay $180 million to name new Atlanta arena

Article Abstract:

The Atlanta Hawks basketball team and the Thrashers hockey club will play in a newly named arena, Philips Arena, paid for by Royal Philips Electronics N.V., the consumer electronics giant based in the Netherlands. The name deal, $180 million, will help defray the $213 million cost of the new facility. Time Warner is building the 20,000-seat building.

Comment:

Company will get marketing advantages other than its name on the building

United States, Netherlands, Foreign operations, Marketing procedures, Company Planning/Goals, Geographic, Out-of-Home Advertising, Marketing, Koninklijke Philips Electronics N.V., Abstract, Basketball teams, Sports facilities, Atlanta, Georgia

Similar abstracts:

• Abstracts: France reneges on plan to sell Thomson; privatization panel deals blow to Daewoo's bid to lead in electronics

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