Alcatel approves buyback in move to halt stock slide
Article Abstract:
Alcatel SA board of directors approved Chairman Serge Tchuruk's plan to repurchase up to 10% of the company's shares to stop the decline of the company's stock. The value of the French telecommunications company's stock has declined 38% following Tchuruk's announcement on Sep. 17, 1998, that Alcatel would not meet a profit projection for 1998 due to cancelled equipment orders and financial crisis in Asia and Russia. However, the buyback news has done little to stop the downward slide of Alcatel's stock. Alcatel's stock has continued to decline to a point that trading for Alcatel shares on Sep. 21, 1998, was cancelled on the Paris, France, bourse following a fall of over 10% before dropping 8.1% to 510 French francs.
Comment:
Board of directors approve Chairman Serge Tchuruk's plan to repurchase up to 10% of co's shares to halt decline of its stock
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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France sets high price for Lyonnais
Article Abstract:
The government of France said that it has established the share price of Credit Lyonnais's initial public offering at 26.2 euros per share. The bank's shares will be made available to the public at 25.5 euros per share. The prices were within the range that the government had previously stated. These prices were from 22.5 euros to 26.2 euros per share. Lyonnais's value is set between 45 billion francs and 48 billion francs.
Comment:
Share price of Credit Lyonnais's initial public offering set at 26.2 euros per share
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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