France resolves outstanding issues

Article Abstract:

Credit Mutuel's purchase of a 67% share of Credit Industriel et Commercial (CIC) had been challenged by some French newspapers which suggested it would not lead to the necessary changes within the banking industry. Credit Mutuel had also been criticised by workforce representatives, who feared the new owner would not retain all of the workforce. Credit Mutuel paid $16 billion for CIC. The privatisation of the defence electronics company, Thomson-CSF, has finally been agreed by the French government. The government's share of the company will be reduced from 58% to 42.94%.

Banking Institutions, Depository Credit Intermediation, DEPOSITORY INSTITUTIONS, Banking industry, Mergers, acquisitions and divestments, Banks (Finance), Electronics industry, Credit Industriel et Commercial

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France close to decision on Thomson-CSF

Article Abstract:

The French government is currently preparing to have a second attempt to privatise defence electronics concern Thomson-CSF. It is soon to recapitalise Thomson Multimedia, which was included in the original privatisation plans but became the subject of controversy following claims that Matra Defense Espace, which was interested in the privatisation of Thomson-CSF, was planning to hand it over to South Korean concern Daewoo. Separately, the French government is also considering four bids for television producer Societe Francaise de Production.

Motion picture & video production, Motion Picture and Video Production, TV Program Production, Management, Planning, Privatization, Privatization (Business), Television production, Television production companies, Military electronics industry, Thomson S.A., Societe Francaise de Production et de Creation Audiovisuelles

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Thomson plan to release hidden value

Article Abstract:

The French government intends to sell off approximately 23% of its stake in defence electronics organization Thomson-CSF. Thomson-CSF made 358.4 million US dollars profit in 1997. The group may eventually link up with European counterparts Daimler-Benz Aerospace and British Aerospace. Company chairman Danis Ranque believes the government may retain less than 35% share in Thomson-CSF.

Finance, Economic policy

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