(BFW) Montebourg Favors Bouygues Purchase of Vivendi Unit SFR

Montebourg Favors Bouygues Purchase of Vivendi Unit SFR
2014-03-11 07:01:39.65 GMT


By Vidya Root
     March 11 (Bloomberg) -- French Industry Minister Arnaud
Montebourg said he favors a return to three mobile-phone
operators.
  * Montebourg makes comment on RTL radio
  * Montebourg says 3 mobile-phone operators will allow
    investment
  * Montebourg says Numericable purchase of SFR will mean price
    war
  * Montebourg says not for government to decide who buys SFR
  * Montebourg says mobile-phone consolidation necessary.


Link to Company News:{EN FP <Equity> CN <GO>}
Link to Company News:{VIV FP <Equity> CN <GO>}
Link to Company News:{ORA FP <Equity> CN <GO>}

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>>> AsiAn Update

Asian Market Update: BOJ defers on further easing ahead of sales tax increase, raises assessment on CapEx and Output, cuts Exports

***Economic Data*** - (JP) BANK OF JAPAN (BOJ) POLICY STATEMENT: REITERATES TO INCREASE MONETARY BASE AT ANNUAL PACE OF ¥60-70T (AS EXPECTED); Maintains overall economic assessment unchanged (7th consecutive meeting); Raises CapEx and Industrial Production, Cuts Exports assessment - (JP) JAPAN FEB MONEY STOCK M2 Y/Y: 4.0% (5-month low) V 4.4%E; M3 Y/Y: 3.2% V 3.5%E - (AU) AUSTRALIA FEB NAB BUSINESS CONFIDENCE: 7 V 9 PRIOR; BUSINESS CONDITIONS: 0 V 5 PRIOR - (AU) Australia ANZ-Roy Morgan Consumer Confidence index for March fell to 113.4 from 116.0 in February - (NZ) NEW ZEALAND FEB RETAIL CARD SPENDING M/M: 0.9% V 0.9%E; TOTAL CARD SPENDING M/M: +0.6% V -0.1% PRIOR - (NZ) NEW ZEALAND FEB TRUCKOMETER HEAVY: 2.3% V 0.0% PRIOR - (NZ) NEW ZEALAND FEB HOUSE PRICE INDEX: 3,835 V 3,756 PRIOR; HOUSE SALES Y/Y: -7.6% V -4.3% PRIOR - (PH) PHILIPPINES JAN UNEMPLOYMENT RATE: 7.5% V 6.5% PRIOR - (PH) PHILIPPINES JAN EXPORTS Y/Y: 9.3% V 10.6%E - (UK) UK FEB BRC SALES LFL Y/Y: -1.0% V +1.8%E (1st decline in 10 months)

***Market Snapshot (as of 03:30 GMT)*** - Nikkei225 +0.7%, S&P/ASX +0.4%, Kospi +0.2%, Shanghai Composite +0.3%, Hang Seng +0.2%, Mar S&P500 flat at 1,876, Apr gold +0.1% at $1,342, Apr crude oil flat at $101.16/brl

***Highlights/Observations/Insights*** - In spite of the expected headwinds from higher sales tax starting Apr 1st and disappointing Q4 final GDP data overnight, Bank of Japan did not announce or even hint it would consider expanding its quantitative easing program to keep the sputtering Abenomics program on solid footing. While the BOJ acknowledged exports have "leveled off", policymakers raised assessment for industrial output and CapEx. The latter was particularly curious, as Q4 final GDP revision saw the biggest downward adjustment in the corporate investment component. Outside of those changes, BOJ left its overall assessment of economy unchanged for the 7th month and also reiterated expectations for CPI (ex sales tax impact) to remain around 1.25% for some time. - Japan econ min Amari sought to soothe concerns after the downward Q4 GDP adjustments this week, noting investors should avoid turning pessimistic on the economy. Separately, a survey in local media predicted some 55% of Japan shoppers will reduce spending levels once the sales tax hike goes into effect.

- PBoC Gov Zhou headlined an active line-up of speakers at the National People's Congress news conference. Zhou hinted interest rate may be pushed higher amid more prevalent "market forces", with rate liberalization coming in 1-2 years. Zhou also discussed increasing internationalization of yuan and a hands-off approach by the PBoC, even as the central bank continued to drive down the value with another 3-month low setting. Separately, CSRC chairman said China will continue to expand (Qualified Foreign Institutional Investor) QFII quota this year, and the head of FX regulator SAFE Yi Gang pointed to increased risks in cross-border capital flows. - In other notable China press headlines, China State Information Center (SIC) think tank forecasted Q1 GDP slowing to 7.5% from 7.7% in Q4. - Former Bank of China President / NPC Financial and Economic Affairs Committee member Li Lihui said China should allow some high-yield investment products to default, with the total size of China shadow banking having risen to CNY20T.

- Australia NAB business confidence slumped in February after a surprise strong multi-month highs gave a jolt to the Aussie dollar last month. NAB chief economist said markets got "too excited" about the likelihood of economic indicators turning, but improvement is yet to be reflected in the labor market. Moreover, NAB sees domestic demand remaining "flat" and mining investment still "in retreat."

***Fixed Income/Commodities/Currencies*** - (CN) PBoC to drain CNY100B in 28-day repos (7th consecutive drain) - (AU) Australia MoF (AOFM) sells A$200M in 4.0% 2020 indexed Bonds; avg yield: 1.2667%; bid-to-cover: 4.51x - SPDR Gold Trust ETF daily holdings rise 7.5 tonnes to 812.7 tonnes (highest since 814.1 on Dec 20th) - (CN) PBoC sets yuan mid point at 6.1327 v 6.1312 prior setting (weakest Yuan setting since Dec 3rd)

- AUD and JPY currencies were the most volatile among the majors in the wake of a decline in Australia NAB figures and a less dovish than expected BOJ. AUD/USD fell some 25pips below $0.9010 after NAB confidence release but pared most of those losses to enter the afternoon session little changed around $0.9025. USD/JPY fell over 15pips after the BOJ statement portending diminished likelihood of additional easing in April but remained supported above ¥103.20. AUD/JPY cross traded in a 40pip range above the ¥93 handle, while EUR/USD steadily retreated from US session highs above $1.39 to $1.3865 level, down about 15pips in the Asian hours.

***Equities*** US markets: - LJPC: Reports positive phase II results: Top-line results from clinical trial of GCS-100 in Chronic Kidney Disease; +62.4% afterhours - PME: Reports Q4 $0.51 v $0.44 y/y, R$61M v $28.4M y/y; +16.7% afterhours - FCEL: Reports Q1 -$0.04 adj v -$0.04e, R$44.4M v $42.4Me; +7.9% afterhours - PLOW: Reports Q4 $0.38 v $0.25e, R$73M v $58.8Me; raises dividend 2%; +5.4% afterhours - HIL: Reports Q4 -$0.03 v $0.02e, R$145M v $134Me; +4.7% afterhours - PWRD: Reports Q4 $0.54 v $0.44e, R$151M v $145Me; +4.3% afterhours - DD: Expects Q1 results will be "challenged" by severe weather and business disruptions in the Ukraine, but affirms FY14 $4.20-$4.45 v $4.33e - filing; -0.9% afterhours - CASY: Reports Q4 $0.38 v $0.49e, R$1.79B v $1.80Be; -2.4% afterhours - URBN: Reports Q4 $0.59 v $0.55e, R$905.9M v $911Me; -2.7% afterhours - NES: Reports Q4 -$0.42 v -$0.47e, R$154.5M v $148Me; -4.7% afterhours

Notable movers by sector: - Consumer staples: Anhui Golden Seed Winery 600199.CN -0.4% (FY13 results) - Financials: China Vanke 000002.CN +5.5% (Pres Yu bought 1M shares); FamilyMart 8028.JP -1.1%, Zensho Holdings 7550.JP -1.5% (to raises monthly avg base pay) - Materials: Lynas Corp LYC.AU -8.5% (H1 results); Mongolian Mining Corp 975.HK -9.0% (FY13 results); Newcrest Mining NCM.AU -1.2% (analyst actions); Drillsearch DLS.AU +0.7% (on track to achieve FY14 guidance) - Energy: Sinovel Wind Group 601558.CN -1.9% (speculations on possible debt trouble) - Industrials: Hebei Huijin Electromechanical 300368.CN +10.0% (special div proposal); Taiheiyo Cement 5233.JP +5.0% (Sees profitability in FY14/15) - Healthcare: Sihuan Pharmaceutical Holdings Group 460.HK +6.4% (FY13 results) - Telecom: Coolpad Group 2369.HK +6.8% (to hold conference on strategic alliance)

(BFW) *VIVENDI SAID TO GIVE ALTICE, BOUYGUES CHANCE TO IMPROVE OFFERS

+------------------------------------------------------------------------------+

BFW 03/10 16:21 *VIVENDI SAID TO SEEK FINAL BIDS FOR PHONE UNIT SFR BY MARCH 12 BN 03/10 16:21 *VIVENDI SAID TO GIVE ALTICE, BOUYGUES CHANCE TO IMPROVE OFFERS BN 03/10 16:21 *VIVENDI BOARD SAID TO MEET END OF THIS WEEK TO DISCUSS SFR BIDS BN 03/10 16:21 *VIVENDI SAID TO SEEK FINAL BIDS FOR PHONE UNIT SFR BY MARCH 12

+------------------------------------------------------------------------------+

*VIVENDI SAID TO GIVE ALTICE, BOUYGUES CHANCE TO IMPROVE OFFERS 2014-03-10 16:21:48.774 GMT

--MADELEINE LIM

-0- Mar/10/2014 16:21 GMT

(BFW) *VIVENDI SAID TO SEEK FINAL BIDS FOR PHONE UNIT SFR BY MARCH 12

+------------------------------------------------------------------------------+

BFW 03/10 16:21 *VIVENDI SAID TO GIVE ALTICE, BOUYGUES CHANCE TO IMPROVE OFFERS BN 03/10 16:21 *VIVENDI SAID TO GIVE ALTICE, BOUYGUES CHANCE TO IMPROVE OFFERS BN 03/10 16:21 *VIVENDI BOARD SAID TO MEET END OF THIS WEEK TO DISCUSS SFR BIDS BN 03/10 16:21 *VIVENDI SAID TO SEEK FINAL BIDS FOR PHONE UNIT SFR BY MARCH 12

+------------------------------------------------------------------------------+

*VIVENDI SAID TO SEEK FINAL BIDS FOR PHONE UNIT SFR BY MARCH 12 2014-03-10 16:21:36.342 GMT

--MADELEINE LIM

-0- Mar/10/2014 16:21 GMT

(Challenges) Free / Bouygues Agreement: why Niel rubs his hands


Free / Bouygues Agreement: why Niel rubs his hands
Translation : {http://bit.ly/1i0Ppxx} Original : {http://bit.ly/1lOX6e3}

The founder of Free now considers "healthy to have three networks in France" insofar as "it gives us the tools to fight against the two big".

Typically, Xavier Niel reserve appearances analysts. But this year, the presentation, this Monday, March 10, results of Iliad, the parent company of Free, was not ordinary. Came to the press, the founder of the operator appeared at the top of his art. The results of the group are very good.

Two years after its launch in mobile telephony, the success of its strategy is no doubt. Even packages € 2, where no competitor has come to fight lack of profitability, are paying off: "This is our source of growth for years to come," said Maxime Lombardini, CEO of the Iliad .

However, on Monday morning at the headquarters of the operator's throw from the Madeleine in Paris, these flattering figures rise somewhat in the background. During the weekend, an agreement was unveiled: Free redeem mobile network Bouygues Telecom if it manages to get hold of SFR. A major movement in the French telecoms. This merger would sign the return to three mobile operators. A coup for Xavier Niel, who puts his hand on 15,000 antennas and frequencies that lacked a € "maximum" 1.8 billion.

Record for the Iliad during

At the same time the Iliad bat during a record at 222 euros, more than double what it was two years ago, Xavier Niel place strategy. The chess player tells his previous hits. "In November 2012, we tried to buy SFR and we went to the Competition Authority." The latter clearly indicates that it does not allow this operation.

"When Vivendi SFR presented on the market, we said that Bouygues scenario was the most favorable for the consumer market and France." Free thinks indeed be able to change his mind the Authority, as Bouygues Telecom is found too fragile.

Therefore Numericable becomes the enemy to fall. "If Altice [the holding of Patrick Drahi shareholder Numericable Ed.] Buys SFR , that would be awful for the consumer and France. " In his sights, cable technology, "Canada Dry fiber" that France is trying to develop. But especially patriotic argument: " Numericable is a French company owned by a Luxembourg company and behind intermediaries in Jersey or Guernsey hide Patrick Drahi, what we are not sure. "

The hardness of the arguments is the stakes. Xavier Niel form begins to see the grand design he imagined: "We believe it is healthy to have three networks in France" insofar as "it gives us the tools to fight against both Basically, we have one goal: become bigger than them. " The party is not over.

>>> US Close Dow-0,21% S&P-0,05% Nasdaq-0,04%

Closing Market Summary: Stocks Begin New Week on Modestly Lower Note

The major averages began the new trading week on a slightly lower note with small caps leading the weakness. The Russell 2000 shed 0.3% while the S&P 500 slipped less than a point with six sectors ending in the red.

Equity indices began the day in negative territory with only the Nasdaq (-0.04%) making a very brief appearance in the green. After sliding through the first hour of action, the major averages reversed and spent the remainder of the session climbing off their lows with help from the three top-weighted sectors. Health care and financials gained 0.4% and 0.04%, respectively, while technology (-0.1%) ended just below its flat line. Also contributing to the rebound was the energy sector, which added 0.2% even as crude oil fell 1.4% to $101.07/bbl.

The S&P 500 tried to regain its flat line, but came up just short as the weakness among consumer discretionary (-0.4%), industrials (-0.5%), and materials (-0.1%) sectors kept a lid on the attempted rally.

Although the materials sector accounts for less than 4.0% of the entire S&P 500, the group was a notable early laggard after China reported disappointing trade figures for February. The country's trade balance swung from a surplus to a deficit of $22.98 billion (expected surplus of $14.50 billion) as exports fell 18.1% (expected +6.8%) while imports grew 10.1% (consensus +8.0%). The big miss did not come without an excuse as the Lunar New Year, which took place at the start of the month, was cited for causing distortions to the report.

The trade figures put additional pressure on copper futures, which continued their recent weakness. The metal fell 1.3% to $3.042/lb after starting the year in the 3.400/lb area. Miners and steelmakers were also pressured with Freeport-McMoRan (FCX 31.38, -0.81) and Market Vectors Steel ETF (SLX 43.87, -0.75) sliding 2.5% and 1.7%, respectively.

Elsewhere, the industrial space was pressured by Boeing (BA 126.89, -1.65), which lost 1.3% after a 777 jet operated by Malaysia Airlines vanished over the South China Sea during the weekend. Separately, a Tokyo-bound 787 from San Francisco was forced to make an emergency landing in Hawaii due to engine issues. Although the industrial space finished at the bottom of the leaderboard, transports fared a bit better. The Dow Jones Transportation Average shed 0.2%, trimming its March gain to 3.2%.

Also of note, the discretionary sector spent the duration of the session among the laggards. Homebuilders ended broadly lower with the iShares Dow Jones US Home Construction ETF (ITB 25.23, -0.49) falling 1.9%. Automakers also lagged with Ford (F 15.51, -0.11) and General Motors (GM 37.08, -0.61) ending lower by 0.7% and 1.6%, respectively.

The Treasury market spent the day inside a narrow range and the 10-yr yield slipped one basis point to 2.78%.

Trading volume was well below average with just over 615 million shares changing hands at the NYSE.

Tomorrow, the January Wholesale Inventories report will be released at 10:00 ET.

* Nasdaq Composite +3.8% YTD  * Russell 2000 +3.4% YTD  * S&P 500 +1.6% YTD  * Dow Jones Industrial Average -1.0% YTD

FT :VW chief urges carmakers to fight the rise of the ‘data monster’

Carmakers must prevent the connected vehicle of the future turning into a “data monster” that aids snooping on customers, the chief executive of Volkswagen has warned.
Speaking at the opening of the CeBIT IT fair in Hanover, Martin Winterkorn, Europe’s most influential auto executive, vowed to protect customers against the abuse of their data.

“I clearly say yes to Big Data, yes to greater security and convenience, but no to paternalism and Big Brother. At this point, the entire industry is called upon. We need a voluntary commitment by the automobile industry,” he said.
Cars are set to generate increasingly vast amounts of data as they are kitted out with infotainment and connectivity services as well as self-driving functions.
Testing an autonomous S-Class saloon on German roads last year Mercedes-Benz said images from the onboard stereo camera alone generated 300 gigabytes of data every hour.
Modern vehicles have become mobile computers, with 1.5km of cables, more than 50 control units and the computing power of 20 advanced personal computers, Mr Winterkorn noted. “The car must not become a data monster,” he said.
In the same way that social networks gather data in order to offer targeted advertising, data will offer the car industry the chance to offer new services.
Some of these services will clearly be beneficial for the consumer: sensors in the car can automatically alert the driver when the vehicle requires a service and let the repair shop know exactly what needs fixing.
But some impacts may be more intrusive: insurance companies are expected to push customers to install telematic systems that could identify aggressive driving patterns and penalise these with higher premiums.
The car industry also faces a challenge in how to store all that data securely, whether in the vehicle or in the cloud. It must also decide which data can be discarded and which must be preserved, in the event of an accident.
In the audience on Sunday were German chancellor Angela Merkel and British prime minister David Cameron – whose governments were rocked in different ways last year by allegations of government snooping on internet communications. Privacy is expected to be a big theme at the CeBIT show.

(BFW) Maroc Telecom Unit Awarded 2 Licences by Gabon Govt, CEO Says

 BN 03/10 09:32 *MAROC TELECOM CEO ABDESLAM AHIZOUNE COMMENTS BY PHONE
 BN 03/10 09:32 *MAROC TELECOM UNIT AWARDED 2 LICENCES BY GABON GOVT, CEO SAYS
Maroc Telecom Unit Awarded 2 Licences by Gabon Govt, CEO Says
2014-03-10 09:34:56.530 GMT


By Souhail Karam
     March 10 (Bloomberg) -- 3g, 4g licenses awarded, CEO
Abdeslam Ahizoune says by phone.

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Souhail Karam at +44-20-7330-7500 or
skaram5@bloomberg.net

To contact the editor responsible for this story:
Andres R. Martinez at +233-302-258-794 or
amartinez28@bloomberg.net