France

International Power Gains 4.9% on FTSE amidst Takeover Speculations

French power giant International Power is at present strongly surrounded by takeover speculations that just refuse to go away. Whether or not these are true remains to be seen, but they do seem to be doing well for the company which has now become among the top FTSE 100 gainers, rising as much as 4.9%.

Rumors are ripe that the firm is all set for a M&A, and will soon be coming out with a 400 pence a share offer. Warren Buffet had been marked as the top potential suitors, but it seems has now been displaced by the local GDF Suez.

French Firm PPR Looking to Sell Nearly 50% of its Brands to Raise Funds

Renowned luxury products firm, PPR has shared that it is looking to sell around 50% its brands to better cope with the current financial crisis and raise some funds. Owned and operated by French media and retail billionaire François-Henri Pinault, the company reported a substantial fall in its sales for the month of October.

The funds raised by the sale of brands will be invested by PPR in more profitable ventures, as has been confirmed by Mr. Pinault, husband of actress Salma Hayek.

French Researchers Successful in Creating Human Skin from Stem Cells

Giving new hope to patients who have been marred by burns, researchers in France have been able to create new human skin from human embryonic stem cells, and the move is being seen as a boon for burn victims in particular.

T-Mobile loses 77,000 subscribers; France & Deutsche Telecoms signs joint venture

Germany's Deutsche Telekom said that T-Mobile USA lost 77,000 subscribers during the third quarter, bringing its dollar revenues down by 2.3 per cent year-on-year to $5.4 billion.

T-Mobile lost 140,000 customers and gained 63,000 customers during the third quarter.

However, Deutsche Telekom sales jumped 3 per cent to settle at €3.8 billion, while key operating profit soared 5 per cent to €1.1 billion.

Whopping 21% stake in Eurotunnel to be taken by Goldman

For the first time in two decades, a large institutional shareholder will be held by the company that runs the undersea tunnel between England and France, after two funds handled by Goldman Sachs opted to convert their bonds in Groupe Eurotunnel into shares.

France obtains details of 3,000 French residents with Swiss bank accounts

Only a few days after France penned a new tax treaty with Switzerland, the nation received the names and details of as many as 3,000 suspected French tax evaders with Swiss bank accounts.

Eric Woerth, French Budget Minister said in an interview with Journal du Dimanche that the accounts of the 3,000 French with the Swiss bank contain around three billion euros.

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