Gx Cybersecur Discussion Threads

[grupo guitarlumber] 05/11/2006 09:27

Westinghouse seen edging out Areva in China nuclear plant bidding - report

BEIJING (AFX) - US nuclear engineering company Westinghouse is expected to
edge out France's Areva in China's global tender for third-generation nuclear
reactors, the Economic Observer reported, citing unnamed sources.
The newspaper said the National Nuclear Power Technology Corp, the organizer
of the bidding, has recently submitted to China's State Council, or the cabinet,
its bidding appraisal recommending Toshiba-controlled Westinghouse as the
winner.
Westinghouse's last-minute offer price for the project was 1,000-1,200 usd
per kilowatthour, plus a deal to transfer its AP1000 third-generation reactor
technology to China, said the newspaper, citing sources.
The final result of the bidding is expected to be formally announced within
the year, according to the newspaper.
The winner of the bidding will get the contract, worth more than 30 bln
yuan, to build two nuclear power plants in Sanmen in the eastern province of
Zhejiang, and in Yangjiang in Guangdong province in the south.
Toshiba Corp recently acquired Westinghouse for 5.4 bln usd from British
Nuclear Fuels plc.
(1 usd = 7.90 yuan)
ljl/xfnzr

[waldron] 27/10/2006 11:59

Cheuvreux Cuts Bouygues Target Price By EUR1

Friday, October 27, 2006 6:49:06 AM ET
Dow Jones Newswires



0929 GMT [Dow Jones]--Cheuvreux lowers its target price for Bouygues (12050.FR) to EUR46 from EUR47 citing deflation in the French mobile telecom market. Fixed-to-mobile convergence is putting pressure on Bouygues' mobile telecom activity, says Cheuvreux. Consumers and alternative operators are better positioned to benefit from convergence, Cheuvreux adds. Stock trades -2% to EUR44.66.

[waldron] 16/10/2006 06:48

Mitsubishi Heavy in final talks with France's Areva on nuclear tie-up - report

TOKYO (XFN-ASIA) - Mitsubishi Heavy Industries Ltd has entered the final
stage of talks with French giant Areva on a tie-up to build nuclear power
reactors in the face of growing competition, the Yomiuri Shimbun reported,
quoting unnamed sources close to the Japanese firm.
The alliance is aimed at Toshiba Corp, which this year bought US power plant
maker Westinghouse from British Nuclear Fuels, the newspaper said.
A spokesman for Mitsubishi Heavy, Japan's top heavy machinery marker,
declined comment.
The tie-up would aim to develop pressurized water reactors, the technology
used in about 70 pct of nuclear power plants around the world.
It would cut development costs for an expected rise of orders in the United
States and China, the report said.
The alliance would also compete against General Electric, which
unsuccessfully sought Westinghouse and has formed a partnership with Japan's
Hitachi Ltd.
Mitsubishi Heavy used to receive overseas orders from Westinghouse but
expects the tie-up to end with the company being bought out by Toshiba.
Toshiba acquired Westinghouse from British Nuclear Fuels for 5.4 bln usd in
the largest overseas acquisition by a Japanese company in years.
Together, Westinghouse and Toshiba are the world leaders in civilian nuclear
technology. Second-ranked Areva is a state-owned firm created in 2001 by a
merger between Cogema, Framatome and CEA industrie.
Japan depends on nuclear power for 30 pct of its energy needs and expects
demand to go up as
current reactors need to be replaced.
afp/mas

[grupo guitarlumber] 14/10/2006 08:42

9 November 2006: Sales for first nine months
- Press release (issued at 5.45 pm)

7 December 2006: Earnings for first nine months
- Press release (issued at 7 am)

12 February 2007: 2006 sales
- Press release (issued at 5.45 pm)

28 February 2007: 2006 Annual earnings
- Press release (issued at 7 am)

26 April 2007: Annual general meeting

9 August 2007: 2007 first-half sales
- Press release (issued at 5.45 pm)

31 August 2007: 2007 first-half earnings
- Press release (issued at 7 am)

[waldron] 21/9/2006 11:02

French regulator to let Bouygues charge higher wholesale rates than Orange, SFR

PARIS (AFX) - French telecoms regulator Arcep has approved proposed cuts in
2007 wholesale telephone communication tariffs that will let Bouygues unit
Bouygues Telecom charge fixed-line operators higher rates for calls to its
mobiles than rival mobile operators France Telecom unit Orange and Vivendi unit
SFR can charge.
The tariffs will drop 21 pct for calls to Orange and SFR, to a top rate of
7.5 cents per minute, and 18 pct for calls to Bouygues, to a maximum of 9.24
cents per minute.
Arcep cited the higher costs Bouygues has incurred as it entered the market
at a different time than the other mobile operators.
[e-mail]
afp/mjs/rw

[waldron] 21/9/2006 10:38

Bouygues consortium among last two candidates for 4 bln stg London Olympics deal
21/9/2006 11:02 London Time | story 0714



PARIS (AFX) - A consortium involving French builder Bouygues and UK company Barratt Developments PLC has been further shortlisted as one of two remaining candidates for building the 4 bln stg London 2012 Olympic Village, the Olympics organising committee said.
The other candidate is a consortium of Australian company Lend Lease and UK companies East Thames and First Base.
A third candidate that was shortlisted earlier, involving Royal Bank of Scotland, has been eliminated.
[e-mail]
afp/mjs/rw

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[waldron] 15/9/2006 07:57

JP Morgan Cuts Bouygues To Neutral

Friday, September 15, 2006 3:40:33 AM ET
Dow Jones Newswires



0623 GMT [Dow Jones]--JP Morgan downgrades Bouygues (12050.FR) to neutral from overweight due to Bouygues Telecom's costly efforts to boost revenue growth in 1H and 2H. JPM says Bouygues might want to improve its telco division results "to improve its exit multiple." However JPM believes "A disposal is at least 12 months away." Until then, the stock is "unlikely to outperform." Keeps target at EUR44.00. Shares closed at EUR41.45. (GAM)

[waldron] 13/9/2006 18:10

Vinci, Bouygues consortium set to win Cairo metro contract - sources

CAIRO (AFX) - A consortium of French companies led by Vinci and Bouygues is
poised to win most of the five-part tender for Cairo's third metro line, after
already building the first two lines, sources close to the French offers told
AFP Wednesday.
The 33-kilometre third line will bring the Egyptian capital's underground
network to a total 100 kilometres of tracks, with a target of 5 mln daily users
by 2020.
The sources said the consortium led by Vinci and Bouygues made the lowest
offer for civil works and engineering at 125.5 mln eur, while the joint offer
made by Spie, Alstom and Thales for power supply was also the cheapest.
Competitors OHL of Spain and Mitsubishi of Japan made higher offers, the
sources said.
French giants Alcatel and Alstom had already secured the first tender on
signalling and telecommunication systems.
Two French companies are the only ones still in the running to build the
track works while Alstom is a strong contender to clinch the tender for rolling
stock after already providing the coaches for the first two lines.
The largest Arab capital's first metro line was opened in 1987 and line two
was inaugurated in 1996. The much-coveted third line, which will serve Cairo
international airport, is expected to open in 2010.
The official results for the first four rounds in the tender process are
expected to be published on Oct 5, while the final round on rolling stock is to
be decided later.
[e-mail]
afp/jsa

[waldron] 06/9/2006 10:30

Vinci, Bouygues Earnings Surge on Roads, French Construction

By Nicolas Johnson

Sept. 6 (Bloomberg) -- Vinci SA and Bouygues SA, the world's two biggest construction companies, said earnings surged after they expanded their highway operations and a growing French economy encouraged spending on shops, offices and houses.

Net income at Vinci, based near Paris, jumped 45 percent to 516.9 million euros ($662 million) in the first half. At cross- town competitor Bouygues, which reports every three months, second-quarter profit also rose 45 percent, to 417 million euros.

France's economy expanded at the fastest in more than five years in the second quarter, spurring commercial building and buoying the housing market. At Vinci, earnings were boosted by the 9 billion-euro purchase of the country's No. 1 toll-road operator, which the company plans to refinance. Bouygues was helped by surging profit from roads and a gain from a phone unit.

``Construction is definitely the driver,'' said Tobias Woerner, an analyst at Man Financial in London. While Vinci is attractive for its plans to re-leverage the purchase of Autoroutes du Sud de la France SA and return cash to shareholders, Bouygues is a more attractive investment, he said. Woerner has a ``buy'' recommendation on Bouygues and is ``neutral'' on Vinci.

Shares of both companies were little changed today, with Vinci trading at 84.75 euros and Bouygues at 41.39 euros as of 11:01 a.m. in Paris. While Vinci stock has gained 19 percent this year for a value of 20.1 billion euros, Bouygues hasn't moved and is valued at 14.1 billion euros.

Shares of Eiffage SA, France's third-biggest builder, have surged 50 percent following takeover interest from Sacyr Vallehermoso SA. Eiffage reports earnings this evening.

`Sustained Growth'

``Construction has exceeded expectations and we're still seeing sustained growth,'' said Charles-Edouard Boissy, an analyst at Oddo Securities in Paris, who spoke before earnings figures were published. ``In France, the slope is still very positive, and we don't see any slowdown. We're very optimistic for construction in France, even into 2007.'' Oddo has a ``buy'' rating on Vinci shares and an ``add'' on Bouygues.

Vinci's acquisition of Autoroutes du Sud added a business with steadier returns than traditional construction and 3,124 kilometers (1,942 miles) of roads that carry 11 million vehicles a year to Mediterranean hotspots Nice and Cannes. The purchase helped swell first-half sales 16 percent to 11.5 billion euros.

Vinci, which helped build the Channel Tunnel between Britain and France, is also Europe's biggest operator of parking lots and in July agreed to spend 500 million euros on leasing 70 parking garages from KarstadtQuelle AG to tap demand from shoppers at Germany's No. 1 department-store chain.

Colas Boost

At Bouygues, first-half revenue rose 9.1 percent to 12.05 billion euros, aided by highways demand. The company's Colas road-building unit, the world's largest, last week said first- half net income rose 52 percent to 70 million euros after it won contracts in countries including France, Poland and the U.S.

While Vinci has expanded into toll roads, Bouygues has a media and telecommunications arm that includes Television Francaise 1 SA, France's most-watched TV station, and Bouygues Telecom, the country's No. 3 mobile-phone operator.

Though the company still derives almost 70 percent of sales from construction, highways and real estate, Bouygues Telecom was the biggest single contributor to first-half net income of 565 million euros, helped by a one-time gain of 99 million euros from the disposal of its Caribbean operations.

The unit's profitability will be eroded this year by ``significant'' investments, Bouygues said.

Bouygues has also spent more than 2 billion euros building a 24 percent holding in Alstom SA, the French maker of trains and power stations. The two companies say they stand to gain from jointly designing and supplying equipment and projects.

No Takeover

``We don't have any plan to make a takeover offer for Alstom for now,'' Chief Executive Officer Martin Bouygues said today. The stake in Alstom will be kept at less than one-third, he said.

Housing starts in France jumped 9.3 percent in the second quarter from a year earlier, the government said on Aug. 22. Contractors interviewed by the statistics office last month said they plan to raise prices.

Vinci had an order backlog in excess of 18 billion euros at the end of July, 19 percent more than a year earlier, while Bouygues' construction unit is working through a record level of business booked last year. Both companies get more than two- thirds of sales from the French market.

To contact the reporters on this story: Nicolas Johnson in Paris [e-mail] .

Last Updated: September 6, 2006 05:33 EDT

[waldron] 05/9/2006 09:32

6 September 2006: 2006 first-half earnings
- Press release (issued at 7 am)

[waldron] 01/9/2006 07:37

EDF awards EPR reactor contracts to Alstom, Bouygues, Areva - report

PARIS (AFX) - EDF has awarded the contracts to build its new EPR French
nuclear reactor to Areva, Alstom and Bouygues SA, Les Echos reported.
Without naming its source, the paper said Areva's share to build the core
reactor totals 700 mln eur, while Alstom's share for the turbine is around 350
mln.
Alstom shareholder Bouygues SA was awarded a 300 mln eur contract to
construct the buildings, Les Echos said.

[e-mail]
mrg/lam

[ariane] 23/8/2006 07:00

Paris shares AFX at a glance outlook

PARIS (AFX) - Shares are expected to open flat amid a backdrop of renewed
inflation concerns in the US and easing crude oil prices, dealers said.
Yesterday, the CAC-40 index closed up 23.68 points or 0.5 pct at 5,128.33,
near its session high, on volume of 3.4 bln eur.
On the Matif, September CAC-40 futures were trading down 3.5 points or 0.07
pct at 5,135.0 ahead of the official opening.
The euro stood at 1.2787 usd, against 1.2807 late yesterday.

TODAY'S PRESS
-EADS launches audit of A400 project amid concerns about delays (La Tribune)
-Bouygues raises stake in Alstom to more than 24 pct (Les Echos)
-Plavix competitor costing Sanofi-Aventis, Bristol-Myers mlns of usd/day in
sales (Les Echos)
-ADP transfers control towers at 2 Paris airports to state for 152 mln eur
(La Tribune)

COMPANY NEWS
-Venezuela lawmaker warns of nationalizing Orinoco projects of Total, others
-Air France ready to resume Beirut flights once authorisations received
-Eurotunnel traffic fully restored after truck fire halts service

MARKET SENTIMENT
-EADS removed from Lehman's Recommended Portfolio
-Casino upgraded to 'equal-weight' from 'underweight' at Morgan Stanley
[e-mail]
mjs/cmr

[ariane] 12/8/2006 15:39

11 Aug 2006 05:46 GMT =DJ Bouygues 1H Rev +9% To EUR12.05B On Building Ops


2006, Dow Jones Newswires

(This item was originally published Thursday.)

By Greg Keller

Of DOW JONES NEWSWIRES

PARIS (Dow Jones)--Bouygues SA (12050.FR) Thursday said sales grew 9% in the first half as strong growth in the construction businesses compensated for stagnation at the telecommunications arm.

The Paris-based building-to-broadcasting conglomerate said sales were EUR12.05 billion in the January-June period, up from EUR11.04 billion a year earlier. That was in line with the EUR12.08 billion forecast by analysts.

Bouygues, which controls France's No.1 private television channel as well as the country's third-largest mobile telecommunications operator, said its construction and road building businesses grew 13% and 14% respectively in the first half, offsetting nearly flat revenue at the Bouygues Telecom wireless unit.

Bouygues Telecom, which in recent years has been the main driver of the group's overall profit growth, posted revenue of EUR2.18 billion, up 1% from EUR2.14 billion a year earlier. Bouygues said the unit, in which it owns an 89.5% stake, signed up 334,000 new subscribers in the first half, and as of June 30 had a total of 8.31 million, 10% more than a year earlier.

Television Francaise 1 SA (5490.FR), France's leading television broadcaster and 42.9%-owned by Bouygues, last month reported first-half revenue up 7% to EUR1.38 billion.

The French construction industry has been benefiting from a building boom at home, and in recent days Bouygues' rivals Vinci SA (12548.FR) and Eiffage SA (13045.FR) have also reported strong first-half revenue growth.

In June, Bouygues forecast full-year sales of EUR25.75 billion. Analysts surveyed by JCF currently predict EUR25.9 billion.

The shares closed down 2.2%, or EUR0.86, at EUR38.88.

Company Web site:

-By Greg Keller, Dow Jones Newswires; [phone]; [e-mail]

(END) Dow Jones Newswires

August 11, 2006 01:46 ET (05:46 GMT)

[grupo guitarlumber] 09/8/2006 06:41

EARNINGS PREVIEW: Bouygues 2Q Rev Seen +6.7% To EUR6.85B

Tuesday, August 08, 2006 7:12:05 AM ET
Dow Jones Newswires



0958 GMT [Dow Jones]--Bouygues (12050.FR) seen posting 2Q revenue +6.7% at EUR6.85B, from EUR6.42B reported a year earlier, according to Dow Jones Newswires survey of 7 analysts. Range is EUR6.66B to EUR7.03B. Focus on mobile telecoms unit Bouygues Telecom, where analysts concerned new subscribers are being won at terms that will weigh on profitability. Also look for company to lift FY guidance for construction, road building units. Bouygues reports Thursday after market close. Shares +1% to EUR38.95. (GLK)

[grupo guitarlumber] 17/7/2006 12:33

Bouygues Sell-Off Overdone -Morgan Stanley

Monday, July 17, 2006 6:28:58 AM ET
Dow Jones Newswires



0914 GMT [Dow Jones]--Bouygues (12050.FR) sell-off looks overdone, says Morgan Stanley says. Sees Bouygues Telecom valued by market at an almost 50% discount to the sector average. Bank expects consensus EPS upgrades to come following recent re-leveraging of the balance sheet and continuing strength of construction business. Reiterates overweight rating, EUR50 price target. Shares down 1% at EUR36.17 in very low volume. (GLK)

[grupo] 11/7/2006 16:56

Paris shares close sharply lower led by tech stocks on profit warnings UPDATE

(update with full report)
PARIS (AFX) - Shares closed sharply lower across the board led down by a
slide in technology stocks as the second-quarter results season got underway
with a series of profit warnings, dealers said.
The main CAC-40 index closed 68.09 points or 1.37 pct lower at 4,914.39, on
heavy volume of 5.71 bln eur.
Of the CAC-40 shares, 38 closed lower and one was higher. Arcelor stock
remained withdrawn from the index, pending the outcome of Mittal Steel's merger
offer.
On the Matif, July CAC-40 futures were trading down 65.5 points or 1.31 pct
at 4,924.5.
On the broader indices, the SBF-80 index closed 82.66 points or 1.47 pct
lower at 5,556.68, while the SBF-120 closed 49.56 points or 1.37 pct lower at
3,557.68.
The euro was quoted at 1.2742 usd, against 1.2745 usd late yesterday.
Alcatel made the biggest slide of the French blue-chips and ended down 0.58
eur or 5.93 pct at 9.20, after future US partner Lucent gave a warning overnight
that its second-quarter revenues would be some 300 mln eur below market
expectations due to weak sales in the US and China.
Alcatel shares came under further pressure after it said its operating
margin in the second-quarter fell to around around 8 pct from 8.3 pct, which
offset estimates of a 7.5 pct rise in second-quarter sales to 3.38 bln eur.
Other technology stocks also weakened as Lucent's negative update added to
profit warnings late last week from 3I, Tomtom, Business Objects and AMD, which
continued to weigh on the US NASDAQ index.
Cap Gemini slid 1.85 eur or 4.27 pct to 41.50, while STMicroelectronics fell
0.29 eur or 2.38 pct to 11.91.
Schneider Electric lost 2.55 eur or 3.13 eur to close at 78.90 and Thomson
was down 0.37 eur or 2.90 pct at 12.37, after South Korean competitor LG Philips
posted heavy second-quarter losses due to industry-wide price declines, weak
sales growth in most segments and overcapacity.
Suez was down 0.73 eur or 2.30 pct at 31.01, as the French parliament
prepared for an extensive debate, set to begin on September 7, over the
government-backed plan to merge Gaz de France with Suez. GDF shares fell 0.60
eur or 2.29 pct to 25.60.
Credit Agricole closed 0.68 eur or 2.19 pct lower at 29.91 and Pernod Ricard
was down 3.20 eur or 2.08 pct, as investors cashed in gains from yesterday's
outperformance by both stocks.
On the upside, Carrefour made the only gains of the CAC-40, edging up 0.06
eur or 0.13 pct to 46.67 ahead of the release of its first-half sales tomorrow.
Among the shares on the second line, Safran plunged 1.15 eur or 6.77 pct to
15.84, after it issued a warning on its full year margin due to high costs in
its defence business and heavy competition for its communications division.
Yesterday it said 100 mln eur in sales may be pushed over into 2007 because
of delays with the Airbus A380 program.
Alstom was down 2.40 eur or 3.46 pct at 66.95, after posting disappointing
first-quarter sales.
Eramet surged 8.70 eur or 7.59 pct to close at 123.40, after Xstrata upped
its bid for Eramet's nickel-mining rival Falconbridge, amid record prices for
nickel.
[e-mail]
rg/jfr

[ariane] 25/6/2006 11:32

Alstom to enter CAC-40 index on July 31, replacing Thales

PARIS (AFX) - Alstom SA, the engineering group that was on the verge of
bankruptcy just two years ago, will enter France's benchmark CAC-40 index on
July 31, replacing Thales SA, following a decision by Euronext's Indices
Committee in Paris late on Friday.
Alstom's market capitalisation is currently 9.4 bln eur, and has risen
steadily since the French government orchestrated a financial rescue package for
the company in 2004, which left the state with a 21 pct equity stake.
Its shares have rallied more than 40 pct since the beginning of this year,
and Bouygues SA will finalise the purchase of the government's stake tomorrow,
as part of a broad industrial alliance announced by the two groups in April.
Thales, for its part, has seen its shares slide by 21 pct since January, and
has a market capitalisation of 5.2 bln eur, one of the lowest in the CAC-40.
Euronext's Indices Committee also said that electrical equipment group
Legrand, which had an IPO earlier this year, will enter the SBF 120 and SBF 250
indices, replacing property group Icade in both cases.
[e-mail]
js/ak

[ariane] 23/6/2006 16:59

Bouygues to finalise buy of French govt's 21 pct Alstom stake Monday
PARIS (AFX) - The French government will finalise the sale of the state's 21
pct stake in engineering group Alstom to Bouygues on Monday, Finance Minister
Thierry Breton said during a visit to an Alstom factory in Belfort, eastern
France.
Bouygues is paying about 2 bln eur for the stake, which was announced in
April and approved by the EU Commission on Wednesday.
The government will book a 1.26 bln eur capital gain from the sale of the
Alstom shares, acquired as part of a financial rescue package carried out for
the company in 2004.
Breton said Bouygues will be a "stable shareholder" who will hold its Alstom
stake for at least three years, as part of a wide-ranging industrial alliance
between the two companies.


[e-mail]
afp/js/jfr

[ariane] 23/6/2006 08:41

Morgan Stanley Lowers Bouygues Target Price

Friday, June 23, 2006 3:36:57 AM ET
Dow Jones Newswires



0625 GMT [Dow Jones] Morgan Stanley lowers Bouygues' (12050.FR) target price to EUR50 from EUR52.50, reflecting reduced expectations of a Bouygues Telecom sale over the next year. But lifts '06 EPS estimate to EUR3.31 from EUR3.22, '07 EPS to EUR3.90 from EUR3.70, and '08 EPS to EUR4.02 from EUR3.75 due to the incorporation of the Alstom deal (and corresponding balance sheet releveraging) and the positive revisions to the '06 construction sales guidance, which together offset the increasing pressure at the Telecoms division. Shares closed at EUR38.87. (AST)

[ariane] 21/6/2006 10:54

Bernstein Ups Bouygues '06, '07 EPS Estimates

Wednesday, June 21, 2006 6:26:48 AM ET
Dow Jones Newswires



0905 GMT [Dow Jones] Bernstein Research ups Bouygues' (12050.FR) '06 EPS to EUR3.18 from EUR3.11 and '07 EPS to EUR3.59 from EUR3.47, due to stronger construction revenues and slightly higher TF1 (5490.FR) forecasts. However, lowers Bouygues Telecom's forecasts as the group adopts a more aggressive pricing and customer acquisition strategy. Keeps Bouygues at market perform, EUR41 target price. Shares trade -1.8% at EUR38.60. (AST)

[grupo guitarlumber] 09/6/2006 17:45

Bouygues 1Q profits rise 54%

Friday, June 09, 2006 10:52:49 AM ET
newratings.com

LONDON, June 9 (newratings.com) – The world's second-biggest construction company, Bouygues SA (BYG.ETR), Thursday announced a 54% rise in its first-quarter profits on record building contracts.

The Paris-based builder reported its net income for the three months ended March 31 at €148 million, as compared to €96 million in the year-ago quarter, helped by a 28% increase in the contribution from Television Francaise 1 SA, in which Bouygues has a 43% stake. The results also included a gain of €27 million from the sale of the company's remaining stake in Saur, a water and power utility. Bouygues' total sales for the first quarter rose 10% to €5.23 billion, aided by construction contracts and acquisitions at the company's electrical-engineering unit, ETDE.

The company has raised its full-year sales projections from €25.3 billion to €25.8 billion. Bouygues expects its full-year results to be driven by a robust increase in the contributions from its construction and property businesses. The company expects sales at the construction, real estate, Colas, and TF1 divisions to rise by 11%, 10%, 8% and 6%, respectively.

[grupo guitarlumber] 09/6/2006 14:05

Bouygues Telecom Strategy Should Pay Off

Friday, June 09, 2006 7:10:41 AM ET
Dow Jones Newswires



0951 GMT [Dow Jones] Bouygues' (12050.FR) weaker 1Q '06 performance in its telecoms business comes from investments in winning back market share, says Bernstein Research, and the strategy should prove successful. Analysts say the company's unlimited calling plans and more active approach to winning subscribers will help the operator deliver stronger organic growth and increase the telecom business's contribution to group revenues. But it's "too early to get more interested in the stock," analysts add. Bernstein maintains marketperform rating and EUR41 target price. Shares trade +1.2% at EUR39.67. (MSP)

[grupo guitarlumber] 09/6/2006 07:17

Bouygues 1Q Highlights Telecom Concerns

Friday, June 09, 2006 2:55:37 AM ET
Dow Jones Newswires



0546 GMT [Dow Jones]--Bouygues (12050.FR) 1Q earnings were in-line and revenue outlook improved, but "concerns continue to increase over the outlook for the telecoms asset, which currently generates close to 35% of group EBITDA," says Credit Suisse. "Given the competitive threat from MVNOs and increasing commercial presence of convergent services in France, we believe that a recovery in margins in the medium-term will be challenging." Keeps neutral rating. Stock closed at EUR39.21. (BJL)

[grupo guitarlumber] 08/6/2006 11:17

Bouygues Results Beat Bear Stearns Estimates

Thursday, June 08, 2006 6:55:50 AM ET
Dow Jones Newswires



0944 GMT [Dow Jones]--Bouygues (12050.FR) first quarter '06 net profit beat Bear Stearns' forecast and consensus, driven by "exceptionals and lower tax," says the bank. Telecom EBITDA margins of 28.5% were below Bear Stearns' 31.6% estimate, though, due to an agressive marketing push for subscribers. Outperform rating maintained with EUR50.60 price target. Shares -2.7% at EUR40.64. (MSP)