To: unctarheel who wrote (17391 ) 2/21/2000 2:38:00 PM From: Tunica Albuginea Respond to
unctarheel :How do you like this for breakfast:" The French Competition Council has asked France No time to rest here .<vbg>www2.marketwatch.com The Paris bourse was down following Wall Street's 2.81% fall on Friday, chiefly on interest rates hike fears. "New economy" equities tumbled with pay-television group Canal+, defense and media group Lagardere and telecommunications equipment maker Alcatel dropping 6.56%, 4.48% and 1.42% respectively. The CAC-40 index as a whole retreated 1.57% or 95.44 points to 5967.28ÿ The French Competition Council has asked France Telecom Utilities and communication group Vivendi has agreed to sell most of the assets of the US' Sithe Energies Inc. to Houston-based Reliant Energy Corp. for $2.1 billion. The capital gain from the operation stands at $450 million. Considered as a new economy stock because its involvement in communication and the media, Vivendi however fell by 2.30 euros to 117.20. Havas Advertising, a Vivendi unit, said Monday it is to acquire Snyder Communications Inc. of the U.S. in an all-stock transaction valued at $2.1 billion or $29.50 per Snyder share, in a move expected to double its North American revenues. The acquisition will create the world's fourth-largest advertising communications group, with a pro forma market capitalization of approximately $6.5 billion and $2.2 billion in annual revenues. Shares in Havas fell by 43.00 euros to 485.00 After tumbling on Friday on press reports that the French government is preparing a law that would permit regular courts, instead of competition authorities, to rule on cases involving conflicts between food retailers and their suppliers, retail stocks were oriented upwards. Supermarket retailers Carrefour gained 2.40 euros to 131.50 but Casino Guichard Perrachon, which was up most of the session, closed unchanged at 91.00.
