Business News From The French Press Tuesday
Tuesday, March 21, 2000 02:01 AM
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French Finance Minister Christian Sautter has backed down from the governement's planned reform of
the tax admnistration in the face of virulent trade union opposition, French newspapers report. Tax
public servants on strike had been threatening to block the yearly tax collection.
French utilities-to-communications group Vivendi (F.VVN, news, msgs) and Dutch telecoms group
KPN are in talks, Les Echos reports.
Renault (F.RNA, news, msgs) plans to invest $500 million over four years in Samsung Motors, Les
Echos reports. Renault and Samsung (Q.SSN, news, msgs) will create a 70-30 joint venture
capitalized at $335 million to take over the Korean group's automobile operations.
Bernard Maniglier, chief executive at computer maker Compaq (CPQ, news, msgs) France and vice
president of Compaq Europe, will step down at the end of the month, to be replaced by Patrick Starck,
vice president for large accounts and distribution at Compaq Europe, Les Echos reports.
Franco-British computer services group Sema (F.SGP, news, msgs) has signed an accord with France
Telecom (FTE, news, msgs) to provide emergency back up computing power for customers of its
Expertel unit, Les Echos reports.
Intercall (F.ICL, news, msgs) the French leader in pre-paid calling cards, plans a new share issue by
the end of the year, to finance its 400-450 million francs investment in research and development and
data network, Les Echos reports.
Quote for referenced ticker symbols: CPQ, FTE, KPN
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