Bouygues seeks to divide stake in unit
Article Abstract:
Bouygues SA of France is seeking a severance of its 20% interest in Bouygues Telecom to existing major shareholders in the telecommunications unit. The move is to settle a rankling problem of the outstanding stake of the firm, which is facing pressure from hostile shareholder Vincent Bollore to shed its telecoms business. Bouygues challenged a move by Cable and Wireless PLC to sell its 20% interest in the division to Telecom Italia for $740.7 million. Bouygues hopes to distribute its interest to maintain control over its telecom division, in which the main shareholders would divide C&W's 20% stake between them on a proportional basis on their existing stakes.
Comment:
Is seeking a severance of its 20% interest in Bouygues Telecom to existing major shareholders in the telecommunications unit
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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How Bouygues SA, a French giant, fell prey to a shareholder
Article Abstract:
Bouygues SA, the family-run French conglomerate, is being shaken by the legal tussles between chairman Martin Bouygues and major shareholder Vincent Bollore. Bouygues, who inherited the position from his father, has sued Bollore, who owns 11% of the company, for constantly criticizing the management's strategies. The suit claims that Bollore's constant criticism shows it had negotiated in bad faith when he agreed to nominate seats to the company's board. The agreement, which the suit wants to nullify, also prevents Martin and his brother Olivier from buying or selling company shares without Bollores' consent.
Comment:
Is being shaken by the legal tussles between chairman Martin Bouygues and major shareholder Vincent Bollore
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Bouygues approves strategy to discourage takeover bids
Article Abstract:
Bougues SA, a France-based construction-to-communications group, is able to adopt an antitakeover strategy led by the group's chairman, Martin Bouygues, during the annual shareholders' meeting. Shareholder Vincent Bollore, who holds a 10% stake in the group, was unable to prevent the resolution, in which Bouygues can issue new shares at the time of a takeover bid to weaken the stake of anyone who threatens to takeover the group. Bollore was opposed to Bouygues move, saying that Bouygues can not expand its mobile phone unit and should sell out.
Comment:
Is able to adopt an antitakeover strategy led by the group's chairman, Martin Bouygues, during the annual shareholders' meeting
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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