Three French banks object to credit mutual deal
Article Abstract:
Societe Generale, Banque Nationale de Paris and Credit Commercial de France claim that Credit Industrial et Commercial's sale to Credit Mutuel by the French government will result to inequitable competition. The three French banks are currently pursuing to nullify the transaction by filing a complaint with the Conseil d'Etat, alleging that Bank Mutuel has an edge over them as it is permitted to provide tax-free savings accounts, or livrets bleus, in France. The complainants also claim that Credit Mutuel's privilege will permit the bank to set up capital reserves easily and in a less-expensive mode.
Comment:
Claims that Credit Industrial et Commercial's sale to Credit Mutuel by the French govt will result in inequitable competition
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Danone, Gerresheimer discuss venture
Article Abstract:
Danone SA of France has confirmed it is in negotiations to merge its glass container operations with those of Gerresheimer Glas AG of Germany. Danone would solidify its position as the second-largest among the glass packaging manufacturers in Europe with the joint venture. The company stressed that talks are in the preliminary stage, so the exact valuation and structure of the venture remain undetermined. The combined activities of the companies will create an entity with a 23% share of the European market and an estimated annual sales of $1.41 billion.
Comment:
Confirms it is in negotiations to merge its glass container operations with those of Gerresheimer Glas in a joint venture
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Havas purchase of Doyma expands publishing role
Article Abstract:
Havas SA of France plans to acquire Ediciones Doyma SA of Barcelona, Spain, to expand its medical publishing business. Havas, a Vivendi SA of France unit, will be able to secure a significant share in Europe's medical publishing market if the acquisition pushes through. The acquisition is in consonance with Havas CEO Eric Licoys objective of focusing on specialized press, multimedia and publishing industries. Other terms and conditions of the proposed transaction were not disclosed. Further, Havas plans to sell off some of its noncore assets.
Comment:
Is planned to be acquired by Havas to expand its medical publishing business
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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