Bouygues Rises; Raymond James Says Disposals Likely to Succeed
2014-06-06 08:38:51.746 GMT
By Sam Chambers
June 6 (Bloomberg) -- Bouygues is the best performer in the
CAC 40 today, up as much as 3.1%, as Raymond James upgrades
stock to outperform.
* Raymond James: shrs aren’t pricing in the likelihood of
Bouygues successfully selling its telco business to Orange
and Alstom selling its energy business
* Telco sale would likely be approved by regulators as
unit is loss-making and French govt. favors a three
operator mkt
* With GE and Siemens having both offered to buy Alstom’s
energy business, chance of no deal happening is low
* Bouygues would likely use proceeds for special div.,
bond repurchases and construction investment
* June 4: Kepler Cheuvreux said Bouygues’s share price ignores
risks associated with proposed deals
* June 4: Reuters reported Orange hired banks to assess
potential purchase of Bouygues Telecom
* NOTE: Bouygues holds 29% stake in Alstom: Bloomberg data
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To contact the reporter on this story:
Sam Chambers in London at +44-20-7673-2021 or
schambers7@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
James Cone
2014-06-06 08:38:51.746 GMT
By Sam Chambers
June 6 (Bloomberg) -- Bouygues is the best performer in the
CAC 40 today, up as much as 3.1%, as Raymond James upgrades
stock to outperform.
* Raymond James: shrs aren’t pricing in the likelihood of
Bouygues successfully selling its telco business to Orange
and Alstom selling its energy business
* Telco sale would likely be approved by regulators as
unit is loss-making and French govt. favors a three
operator mkt
* With GE and Siemens having both offered to buy Alstom’s
energy business, chance of no deal happening is low
* Bouygues would likely use proceeds for special div.,
bond repurchases and construction investment
* June 4: Kepler Cheuvreux said Bouygues’s share price ignores
risks associated with proposed deals
* June 4: Reuters reported Orange hired banks to assess
potential purchase of Bouygues Telecom
* NOTE: Bouygues holds 29% stake in Alstom: Bloomberg data
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Sam Chambers in London at +44-20-7673-2021 or
schambers7@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
James Cone