Link to Google Translation {http://bit.ly/1dG6EA5}Link to Original in French {http://bit.ly/1iTwmGi}The largest shareholder of Vivendi maintains blur on its intentions regarding the choice of the future buyer of SFR.It all started because of a short sentence in a press Vivendi added, say, at the request of Vincent Bolloré. She suggested that "other options" remained on the table despite the entry into exclusive negotiations with Numericable for the sale of SFR. How to place the outset, Vivendi in a strong position to negotiate or to arrange its own relations with a State to which a merger-SFR Bouygues does not seem to displease? In the clan Bouygues, in any case, this is not a fold: the new strong man of Vivendi would be willing to help those who missed the door to go out the window.Amazing wink history. In December 1998, the same Vincent Bolloré, after arriving friend, tried to take control of the construction group and Martin Bouygues had owed his salvation to his friend François Pinault, called for help to buy price Gold 12.6% stake in Bouygues raised by Breton raider. But since this episode, the water has flowed under the bridges. Chloe, niece of Martin Bouygues, married Yannick's son, Vincent, and the hatchet seems buried. "Our disputes with Vincent Bolloré rose long," said Martin Bouygues the "Echos" there two weeks. The two billionaires would think even bring their trouble free newspaper "Metro" and "Direct Matin". In the clan Numericable, it supports almost the opposite. Vincent Bolloré has he not voted Numericable the Supervisory Board of Vivendi on March 14? The leader, who rarely expresses told "Ouest-France" that the Management Board of Vivendi had considered offering Numericable "superior": "There are 450 million euros of difference and 5,000 job losses less. There is also a greater ease with Numericable, "he has said.Peaceful coexistenceIt's Bolloré in the text: a statement that confuses its own intentions. Indeed, Vincent Bolloré seems to fade before the decision of the Executive. We do not know what he really thinks. Later in his speech to "Ouest-France", he also speaks of "priority" and not"exclusivity", which sows confusion on his level of commitment vis-à-vis the solution. " In fact, everyone looks after their own door in the statements of Vincent, "says a close.According to several observers, Vincent Bolloré has remained relatively neutral during the discussions. This is his lieutenant Marc Taieb, a member of the Board of SFR, which will do the clearing account for its records, and consulted on all fronts. The discussions at the meeting were controlled by the Chairman of the Supervisory Board, Jean-René Fourtou.It remains the real boss of a board that has forged itself as it has shaped Vivendi for twelve years. "Vincent Bolloré is aware.He had no interest in embarking on a fruitless confrontation. It was above all to preserve a certain harmony in the council, "says a source. The Breton business man seems to have chosen the peaceful cohabitation, pending the departure of Jean-René Fourtou, scheduled June 24
--> maybe why we had a rumor last week of Icahn building a stake in BMY, will be a very good news as Gilead got some delays on its Hepatitis C Drug.
Bristol-Myers Squibb Co To Present Data for Daclatasvir in Multiple Investigational All-oral Combinations across Hepatitis C Genotypes at The International Liver CongressTM
- announced today that 12 abstracts have been accepted for presentation at The International Liver CongressTM, the 49th annual meeting of the European Association for the Study of the Liver (EASL), in London, April 9 13.
ECB's Liikanen: Reiterates Council view that ECB takes exchange rate into account in policy decisions
- Analyze all factors with impact on monetary policy
**Reminder: On Mar 13th ECB chief Draghi stated that FX rate was now becoming more relevant in assessing price stability
- On Mar 6th at the ECB monthly press conference chief Draghi stated that forex developments muted inflation by 0.4-0.5% since 2012. Rule of thumb stated 10% change in exchange rate effected inflation by 0.4-0.5%
- On Mar 6th at the ECB post rate decision press conference ECB chief Draghi stated Euro exchange rate was important for growth and inflation, but ECB had no FX policy target.
BNP Paribas Comments on 2016 targets
- Targeting €2.8B in savings/year starting in €2.8B (vs originally planned)
- Targeting organic revenue growth of above or equal to 10% by 2016 vs 2013
- By 2016, targets ROE of above or equal to 10%
- Targets payout ratio of about 45%
- For Capital markets unit, targeting pretax RONE of above 20% by the end of 2016.
- Targeting organic revenue growth of above or equal to 10% by 2016 vs 2013
- By 2016, targets ROE of above or equal to 10%
- Targets payout ratio of about 45%
- For Capital markets unit, targeting pretax RONE of above 20% by the end of 2016.
Ukraine Acting President: Orders Defense Ministry to withdraw Ukrainian forces from Crimea
- Decision taken due to Russian military threats to lives of servicemen and thier families
Rno is testing some support - has been weak because of emerging exposure, Asia is tradin higher this morning and Iran & Russia fears are overdone...
Few positives points Highlighted during l ast week BofA-ML conf :
- Solid message emphasizing the strong competitive position of the entry range and Nissan saving opportunities
- Underlying Russian demand has been solid YTD and RNO outperforming. Issue for RNO will in fact become lack of capacity.
- Brazilian exposure also carrying FX headwinds as is clear given FX moves. Less local content for RNO in this market means a slightly higher headwind on FX is likely, but also some price increases achieved.
- Turkey is providing a partial offset to FX as export hub into EU for products such as the Clio.
- EU market is looking more solid, expecting 1-2% growth for the year.
- Credit rating progress to investment grade is becoming possible. Fitch has already moved, could see Moody’s and S&P consider stance in coming 18 months or so.
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AB InBev May Have $700m Ebit Boost From Corona, Citi Says 2014-03-24 08:18:33.463 GMT
By Heather Burke March 24 (Bloomberg) -- AB InBev may increase Ebit by $700m over 5 yrs by expanding Corona internationally, Citi says; reiterates buy, PT EU85. * Corona has boosted AB InBev’s exposure to intl premium beer * Corona vol. outside U.S., Mexico is 1/6 of Heineken or Budweiser; growth reined in by 3rd party distribution, may change as AB InBev takes charge * AB InBev has raised Budweiser intl vol. to 23m hl from 9m since taking over brand in 2008 * Asset-light entry to new mkts with its premium beers may also boost Ebit by several hundred millions, will take longer than 5 yrs * NOTE: Bought rest of Corona maker Grupo Modelo in 2012
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To contact the reporter on this story: Heather Burke in London at +44-20-7673-2044 or hburke2@bloomberg.net To contact the editors responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net James Cone
Russia Dep Defense Min Antonov: Not bolstering troops on Ukraine border
- Have allowed seven inspectors from US, Canada and Baltic States to interview, photograph commanders in region
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Deutsche Bahn Losses From Cartels May Top EU1b: Sueddeutsche 2014-03-24 07:29:30.236 GMT
By Karin Matussek March 24 (Bloomberg) -- Figure covers last 5-7 years, Sueddeutsche Zeitung reports, citing legal head Gerd Becht. * Says Deutsche Bahn is affected by every third cartel * Govt-owned co. has unit to litigate damage suits against cartel members, says next case will target beer brewers
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To contact the reporter on this story: Karin Matussek in Berlin at +49-30-70010-6218 or kmatussek@bloomberg.net To contact the editors responsible for this story: Anthony Aarons at +44-20-7673-2227 or aaarons@bloomberg.net Jurjen van de Pol
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BN 03/24 06:58 *NETS TRANSACTION TO CLOSE IN 2Q 2014 BN 03/24 06:57 *NETS SHAREHOLDERS WILL ALSO GET 2013 DIV TOTALLING DK498M BFW 03/24 06:57 *NETS BOUGHT BY ADVENT, ATP, BAIN FOR DK17B IN CASH BN 03/24 06:57 *NETS BOUGHT BY ADVENT, ATP, BAIN FOR DK17B IN CASH
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Nets Bought by Advent, ATP, Bain for DKK17b in Cash 2014-03-24 07:09:45.160 GMT
By Gelu Sulugiuc March 24 (Bloomberg) -- Deal corresponds to price per share of DKK92.37, Nordic card payments processor Nets says in email. * Shareholders will also get 2013 div of DKK498m total, or DKK2.7 per share * Transaction seen closing 2Q 2014 * Danske held 16.13% equity interest in Nets, says sale will have positive effect of DKK1b on financial results * Keeps FY outlook for net profit DKK9-12b * Nordea held 20.7% stake, total proceeds of divestment will be DKK3.5b, leading to tax-free capital gain of almost DKK2.7b * Deal improves Nordea’s core tier 1 ratio with close to 25 bp
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To contact the editor responsible for this story: Gelu Sulugiuc at +45-33-45-7120 or gsulugiuc@bloomberg.net