Old NEWS, looks like Fidelity and friends own a little CXIPY:
Dow Jones Newswires -- January 9, 1998
FMR, Fidelity Own 10% Of Coflexip, But Not Seeking
Control
PARIS (Dow Jones)--FMR Corp. (X.FIN) and its Fidelity International
Ltd. unit together own a 10.12% stake in France's Coflexip SA (CXIPY),
the holding company for underwater contractor Coflexip Stena Offshore
NV, but aren't seeking control of the company, the French stock exchange
authority said Friday.
FMR Corp. and Fidelity International were acting on behalf of the
Boston-based Johnson family and pension funds managed by their units.
The Johnsons own 20% of FMR's voting rights and 47% of Fidelity's voting
rights.
The French stock exchange authority, Conseil des Marches Financiers
(CMF), said that FMR owns 1,597,950 Coflexip shares, or a 9.8% stake,
and Fidelity International owns an 0.32% stake, or 51,100 shares.
The companies raised their combined stakes in Coflexip beyond the 5%
and 10% levels through market purchases of American Depositary Receipts
(ADRs) on Jan. 6, the CMF said. Coflexip ADRs closed on the Nasdaq
Tuesday at 54, down 1-1/2, or 2.7%.
Coflexip officials weren't available to comment on the size of the stakes
purchased Tuesday.
According to the CMF, the purchases were made as portfolio investments.
FMR and Fidelity don't intend to take control of Coflexip by increasing
their combined stake to above 30%, the CMF said. FMR and Fidelity may
make, however, additional purchases or sales of Coflexip shares, including
ADRs, the CMF said. |
