AmEx, Visa to develop smart cards
Article Abstract:
Visa International and American Express Co. (AmEx) created a joint venture known as Proton World International to design a world-wide, open standard for smart cards. The planned standard for smart cards would be made possible with the alliances of two card technology companies, Australia-based ERG Ltd. and Belgium-based Banksys SA. Proton World will employ technology that was spun off by Banksys, which has designed one of the most widely utilized electronic-purse systems across the globe. The goal of the Visa-AmEx joint venture is to design the technology and standards that would enable a smart card to perform a number of applications that include access to mobile-phone or cable-TV networks, payment of Internet transactions, debit or credit card and storage of electronic money.
Comment:
This co & Visa Intnl create a joint venture called Proton World Intnl to design an open standard for smart cards
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Long-awaited offer for SGB stake to let Suez consolidate its grip on Tractebel
Article Abstract:
Suez Lyonnaise des Eaux's public offer for 36.5% of Societe Generale de Belgique will enable Suez to tighten its hold on Tractebel SA, a Belgian utility firm. The $4.85-billion offer, which was long awaited for, caused an upsurge on SGB shares. The Suez offer comes after an $11-billion deal wherein SGB agreed to the sale of its Generale Bank affiliate to Fortis. Suez said the two deals will give it the chance to concentrate on its main gas, electricity and water utility industry assets. At the same time, Suez said it can divest a portion of its complicated holding structure.
Comment:
Its public offer for 36.5% of Societe Generale de Belgique will enable Suez to tighten its hold on Tractebel SA
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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KBC merger faces renegotiation
Article Abstract:
Kredietbank NV's merger with CERA Bank, which created Belgian financial services firm KBC Bank-Insurance Holding, has been suspended by a court injunction. A Belgian judge ruled that the rights of CERA Bank's shareholders were violated during the deal as they were not permitted to vote on the final merger decision in April 1998. The decision is being appealed by KBC and its two main parent firms, CERA Holding NV and the publicly traded Almanij NV. KBC has a stock-market value of approximately 750 billion Belgian francs.
Comment:
Co's merger w/ Kredietbank NV, w/c formed Belgian financial svcs co KBC Bank-Insurance Holding, is suspended by court injunction
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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