European Press Roundup: Lactalis to Take a Hit, Inditex Sells Stores

In Europe today, rising oil and gas prices helped Shell more than triple its earnings and Roche's net profit was hit by impairments. Read about the above topics on Dow Jones Newswires or WSJ.com.

In Other Media...

Lactalis CEO Emmanuel Besnier says the contaminated-milk scandal will cost the company hundreds of millions of euros. The company will also close one of the drying towers at its Craon plant in Mayenne, which it identified as the source of the contamination. -Le Monde

Inditex, the parent company of Zara, has sold 16 stores in Spain and Portugal to the German fund Deka. The company hasn't disclosed the value of the transaction, but sources in the sector say it could be around EUR400 million. Inditex said it will continue renting the stores it has sold. -Europa Press

The price range for Metrovacesa's IPO could be lowered as bookrunners BBVA and Santander, which also own the company, couldn't place all the shares at the original price. Metrovacesa's listing is set for Feb. 5, and today is the last day for investors to buy in. The price range was originally set between EUR18 and EUR19.50. -Cinco Dias

EU citizens who settle in the U.K. during the so-called Brexit transition period--March 2019 to December 2020--may have different rights than those who arrived before Brexit, Prime Minister Theresa May said. The new rules, which could include mandatory work permits and restricted access to benefits, are "a matter for negotiation," May added. -The Guardian

A GBP21-billion funding hole has been found in a U.K. Ministry of Defense equipment plan to buy warships, jets and submarines, the country's National Audit Office said. -The Times of London

Anti-corruption association Anticor has filed a complaint with French financial prosecutors, alleging that France's Ministry of Economy and Finance gave up a financial gain of at least EUR350 million related to Siemens's acquisition of Alstom. -Le Monde

The EU could introduce measures to prevent the U.K. from undermining the bloc's economy by cutting taxes or relaxing regulation after Brexit. These measures, which could include penalties against state-subsidized firms and tax blacklists, are aimed at ensuring a "level playing field" in the future U.K.-EU relations. -FT

Vivendi's CEO Arnaud de Puyfontaine is upbeat about an agreement between Vivendi and Mediaset to settle a long-running dispute over a failed pay-TV deal. -Il Sole 24 Ore

McDonalds' managing director in Belgium, Stephan De Brouwer, says the fast-food company plans to invest EUR25 million and open at least four new restaurants in 2018, which will create new jobs. -L'Echo

Deutsche Boerse's new CEO Theodor Weimer has suspended his predecessor's "group-management committee" in a first move toward streamlining bureaucracy at the German stock-exchange operator. The group was slowing down decision-making and watering down responsibilities, in the view of many at the company. While the committee is only suspended for now, sources expect Mr. Weimer will get rid of it altogether. -Handelsblatt

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(END) Dow Jones Newswires

February 01, 2018 06:58 ET (11:58 GMT)

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