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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Valor Comm Grp | NYSE:VCG | NYSE | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
From Jul 2019 to Jul 2024
By Marc Daniel and Martine Pauwels
PARIS--U.S. bank JPMorgan Chase & Co. (JPM) said Wednesday it has sweetened its offer for a stake in French technology and media services firm Technicolor SA (TCH.PA).
Speaking at Technicolor's annual shareholders meeting, David Welsh, a representative for the bank, said it had raised its offer to 1.9 euros per share ($2.4) from EUR1.6 per share. If accepted, its stake would rise to 25-30% from 1% currently.
San Francisco-based private equity firm Vector Capital placed a rival bid in late May at EUR2 per share.
The proceeds of the stake sale would be used to pay down the French company's roughly EUR1 billion in net debt. The rest would be used to help re-orient the company away from its money-losing TV set-top box business and toward other businesses, like digital media services, where the company holds a slew of patents.
Shareholders are expected to vote on the two offers later Wednesday.
-Write to Marc Daniel at marc.daniel@dowjones.com
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