Thomson sale torpedoed

Article Abstract:

The French privatization committee has rejected the government's plans for privatizing Thomson by selling it to Lagardere. The committee is concerned about Lagardere's intention to give Thomson Multimedia to Daewoo, and labor unions have protested about the privatization. Alcatel Alsthom, the other bidder for Thomson, argues that Thomson Multimedia would not have passed into foreign hands if Alcatel had won the bid. New bids could be asked for and Alcatel is likely to renew its attempt to acquire Thomson.

Thales S.A., Compagnie Financiere Alcatel

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Lagardere/Thomson: it ain't over 'til it's over

Article Abstract:

Lagardere has won in a competition with its rival Alcatel Alsthom to acquire Thomson, but there have been protests which have created uncertainty over the deal. The French privatization commission has to ratify the acquisition and has been called on by union leaders and politicians to refuse to do so. Thomson Multimedia (TMM) has been given to Daewoo. Alcatel argues that it would have restructured TMM prior to selling half of the company to a partner from Asia.

Thomson S.A.

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Philips: welcome to the hot seat

Article Abstract:

Cor Boonstra is Philips' new chairman and he has had to start his chairmanship by announcing a profit warning in the first two weeks. The company's results for 3rd qtr 1996 will be released in Oct 1996 and the company's consumer electronics division may have suffered. Restructuring provisions may increase in 2nd half 1996. Boonstra may seek to start anew by making large provisions when full year results are announced for 1996.

Officials and employees, Philips Gloeilampenfabrieken N.V.

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