Alcatel Denies It Plans Offer to Raise Stake in Thomson-CSF
By Daniel Tilles
Paris, Nov. 24 (Bloomberg) -- Alcatel SA, Europe's second- biggest phone equipment maker,
said it doesn't intend to make a public offer to raise its stake in Thomson-CSF.
French daily Les Echos today said that Alcatel might be tempted to raise its stake in
Thomson-CSF through a takeover of Europe's No. 1 defense electronics maker. The report did
not identify its source for the story.
The report follows comments made earlier this week by Alcatel Chief Executive Serge
Tchuruk, who said the company must either raise its 25.3 percent stake in Thomson-CSF or
sell part of it to better exploit the companies' ties.
``Alcatel denies information concerning the intention to launch a public offer to increase its share
in Thomson CSF, as indicated in the French press today,'' said Klaus Wustrack, an Alcatel
spokesman.
Shares in Alcatel fell as much as 1.95 euros, or 3.2 percent, to 58.55 euros and were recently
at 58.8. Thomson-CSF shares rose 0.05 euro, or 0.1 percent, to 50.6 euros.
While Thomson-CSF is Europe's biggest defense electronics maker, it now draws close to half
its sales from civilian electronics businesses. Alcatel has 51 percent and Thomson-CSF 49
percent of Alcatel Space, which makes military and commercial satellites.
Apart from Alcatel's stake in Thomson-CSF, the French government owns 34.4 percent,
Groupe Industriel Marcel Dassault 5.8 percent and employees about 2 percent. A third of the
shares are publicly traded. |
