Gx Cybersecur Discussion Threads

[waldron] 31/8/2007 11:34

Areva shareholder CEA confirms govt mulling major privatisation options


PARIS (Thomson Financial) - CEA, the French state's atomic energy
commissariat, which is the largest shareholder in Areva, said three major
options for the further privatisation of the group are under consideration,
confirming an earlier press report.
Business daily Les Echos reported this morning that the future of Areva is
being discussed alongside that of Alstom and Eramet at the highest levels of the
French state, based on the idea of forming a large group on a world scale,
involving various French and foreign industrial groups.
Bouygues was also mentioned, alongside Mitsubishi, Siemens, EDF and Total,
the paper cited its unnamed source as saying.
The CEA, which holds 78.96 pct of Areva, told Agence France-Presse that the
first option is for it to remain a standalone group, retaining 100 pct control
over its subsidiaries.
It said the second option is sell a stake to Bouygues and Japanese
investors, with the French state retaining a majority holding.
The third option is the "creation of a major private French energy equipment
maker with public control over strategic activities only."
Quizzed over the newspaper report at the presentation of Bouygues'
first-half results today, chief executive Martin Bouygues told AFP that his
company wants to "play a role" in the event of a full privatisation of Areva,
but that the prospect of being a minority shareholder "wouldn't make much
sense."

[e-mail]
mrg/cmr

[waldron] 28/8/2007 13:13

Bouygues "buy"

Tuesday, August 28, 2007 8:26:06 AM ET
Dexia Securities

LONDON, August 28 (newratings.com) - Analyst Jo Demil of Dexia Securities maintains his "buy" rating on Bouygues SA (BYG.ETR). The target price is set to €77.

In a research note published this morning, the analyst mentions that the company is expected to post healthy 1H07 results, backed by a good performance by Telecom. Bouygues is likely to have achieved operating margins of 3.3%, representing y/y contraction, the analyst says. Bouygues Telecom, which added 78,000 customers in 2Q07, is expected to post EBITDA margins of 30.6%, Dexia Securities adds.

[waldron] 07/8/2007 03:58

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

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

14 November 2007: 9-month 2007 sales
- Press release (issued at 5.45 pm)

5 December 2007: 9-month 2007 earnings
- Press release (issued at 7 am)

[waldron] 07/8/2007 03:54

Bouygues "buy," target price raised

Monday, August 06, 2007 12:36:42 PM ET
Dexia Securities

LONDON, August 6 (newratings.com) - Analysts at Dexia Securities maintain their "buy" rating on Bouygues (BYG.ETR). The target price has been raised to €77.

In a research note published this morning, the analysts mention that the company is expected to post its revenues for 1H07 at €13.5 billion, with the Bouygues Construction, Immobilier and Colas units contributing €3,581 million, €857 million and €5,275 million, respectively. The Bouygues Telecom unit is expected to have added 164,000 customers during 2Q07, primarily driven by robust increase in post-paid subscribers, the analysts add.

[waldron] 31/7/2007 12:01

Total, Bouyges express interest in Turkmenistan projects


ASHGABAD (Thomson Financial) - Total board member Yves-Louis Darricarrere
and Bouygues vice president Oliver Bouygues met with Turkmen President
Gurbanguly Berdimuhamedov to express their interest in cooperating with the
gas-rich nation on future projects, Interfax reported.
"As two old partners, Total and Bouygues could work successfully on the
Turkmen market in their own kind of tandem," Bouygues said.
Darricarrere added that Total could take part in introducing the newest
technology and training qualified staff in the country.
[e-mail]
amk/gp

[ariane] 04/7/2007 09:50

EU court dismisses Bouygues appeal vs EU Commission in 3G telecoms 'aid' case


BRUSSELS (Thomson Financial) - The EU's second-highest court has dismissed
an appeal brought by Bouygues Telecom SA against a European Commission ruling
which said a French government decision over four years ago to reduce fees paid
by rivals France Telecom's Orange and Vivendi Universal SA's SFR for 3G telecoms
licences did not violate EU rules.
In July 2004, the commission stated that a retroactive reduction in the
amount Orange and SFR had to pay for their Universal Mobile Telecommunication
System (UMTS) licences, granted in 2001, was not unlawful.
In June 2000, the government issued an invitation to apply for the award of
the licences. The first, in which Orange France and SFR participated, was
launched in the August of that year with each company paying a set fee of 4.95
bln eur for a 15 year contract. Bouygues had decided not to compete on account
of the price.
The French telecoms regulatory authority decided to proceed with a second
round of calls for tender on the basis of ensuring adequate competition.
In the second invitation to apply, with the third generation mobile
telephone sector running into difficulties, the fee was reduced substantially to
619 mln eur followed by an annual payment of a percentage of sales resulting
from use of the licence. Bouygues Telecom applied and in December 2002, was
awarded a UMTS licence for a 20 year period.
However, the government decided to align retroactively the amount of the
fees provided for in the first procedure with that provided for in the second
invitation to apply.
Therefore, the government -- basing its decision on principles of equality
and and fair competition -- modified the conditions of the licences to Orange
and SFR to make them identical to those of Bouygues.
Bouygues formally complained about the government's move to the commission.
The Court of First Instance's (CFI) ruling today can be appealed within two
months to the EU's highest court, the European Court of Justice.

[e-mail]
sz/jlw

[ariane] 04/7/2007 06:13

Areva CEO open to Bouygues taking core stake


PARIS (Thomson Financial) - Anne Lauvergeon, Areva chief executive, would
welcome French construction conglomerate Bouygues as a core shareholder should
the government decide to open the capital of the state-controlled nuclear energy
group, the Financial Times reported, citing a person close to her.
It said Lauvergeon and Martin Bouygues, head of the family-controlled group
that bears his name, have in recent weeks held discussions on the future of
Areva, in which the possibility of an industrial partnership for the
new-generation European pressurised water or EPR reactor was floated, as
reported yesterday in French daily Le Figaro.
The FT said insiders told it the two companies leaders also discussed the
possibility that Bouygues could take a stake in Areva.
"Anne Lauvergeon would even welcome that,", the person close to her was
quoted as saying.
The government controls around 90 pct of Areva, with only a few percentage
points of the capital in free float on Euronext Paris.
[e-mail]
an

[ariane] 03/7/2007 06:29

Bouygues, Areva mull joint commercial offering


PARIS (Thomson Financial) - Bouygues and Areva are studying industrial
cooperation involving a joint commercial offering of the two companies' skills
in civil engineering and nuclear reactors, Le Figaro newspaper reported, without
naming its sources.
Nothing has been finalised but the stage of informal meetings has been
broadly passed and each company is working separately on the idea, according to
the report.
The two companies already regularly work on the same projects, the daily
noted, highlighting the projected Flamanville nuclear power plant in France and
the ongoing construction of the Olkiluto 3 nuclear reactor in Finland.
Le Figaro said the cooperation could take the form of a joint venture.

[e-mail]
an

[waldron] 29/6/2007 13:38

Bouygues "overweight"

Friday, June 29, 2007 6:00:15 AM ET
J.P. Morgan Securities

LONDON, June 29 (newratings.com) - Analysts at JP Morgan maintain their "overweight" rating on Bouygues (BYG.ETR). The target price is set to €84.

In a research note published this morning, the analysts mention that the new regime of 2008-2010 termination rate cuts to be announced by ARCEP later this summer is expected to be beneficial for the company. Bouygues continues to witness robust construction demand, the analysts say. The company's service revenue growth may exceed the 4.5% estimate for 2Q, JP Morgan adds.

[ariane] 06/6/2007 09:43

Bouygues 'satisfied' with 25 pct Alstom stake; companies planning jv project


PARIS (Thomson Financial) - Bouygues is "satisfied" with its 25 pct stake in
Alstom and "does not expect to increase" this holding, deputy CEO Olivier
Poupart-Lafarge said during a conference call following Bouygues' first-quarter
results.
Poupart-Lafarge said it "will maintain the 25 pct stake" but an increase is
"not on the agenda".
At the same time, he said the two companies are planning to develop further
"joint-venture projects" following an initial project covering the construction
of hydro-electric dams.
These new projects, to be determined on a "case by case basis", will be
announced before the end of this year, he indicated, although adding it is "too
soon to disclose anything".


[e-mail]
gt/jfr

[ariane] 06/6/2007 06:56

Bouygues Q1 net profit 189 mln eur, up 28 pct; raises FY sales guidance UPDATE


(adds detail for key units, more info on sales targets)
PARIS (Thomson Financial) - Bouygues said first quarter net profit was 189
mln eur, up 28 pct from 148 mln a year earlier, as business remained strong,
particularly in construction.
The rise was above a Thomson Financial consensus forecast of 168 mln.
The company raised its full year sales guidance to 28.8 bln eur from 28.6
bln.
First quarter operating profit was 336 mln eur, up 15 pct from 292 mln a
year earlier.
Bouygues said the first quarter results were in line with the expected full
year trend.
The Bouygues Construction unit's business was described as robust, but with
a drop in the operating margin to 2.8 pct due to the delivery of major projects
a year earlier.
The company revised its full year sales target for Bouygues Construction, to
7.730 bln eur from the 7.500 bln it set in February. The new figure would be a
rise of 16 pct from last year's sales.
Smaller changes were made to the sales targets of several other units.
The Colas unit trimmed its net loss for the quarter to 33 mln eur from 60
mln a year earlier. Bouygues said it had a "very good first quarter due
principally to favourable weather," and its full year sales target was left
unchanged at 11.350 bln eur, a 6 pct rise from last year.
First quarter net profit at the company's mobile phone unit, Bouygues
Telecom, jumped to 128 mln eur from 83 mln. Bouygues gave no news about plans
for the unit, although there has been speculation for months that it might be
sold to finance a takeover of Alstom.


[e-mail]
mjs/jlw/mjs/jlw

[ariane] 15/3/2007 13:30

Bouygues "buy"

Thursday, March 15, 2007 6:57:54 AM ET
Dexia Securities

LONDON, March 15 (newratings.com) - Analyst Pieter Bijlsma of Dexia Securities maintains his "buy" rating on Bouygues (BYG.ETR). The target price is set to €60.

[ariane] 02/3/2007 11:53

Barratt Developments London's Olympic Authority confirms Lend Lease for Olympic Village contract


LONDON (AFX) - London's Olympic Delivery Authority (ODA) has confirmed Lend
Lease consortium as developer for the 4 bln stg Olympic Village and Stratford
City development contract in East London.
Following long-running rumours, the ODA has finally admitted that it is in
exclusive negotiations with the Australian developer for one of the major
construction contracts for London's 2012 Olympics.
The Australian construction giant will build the 5,500 homes of the Olympic
Village that will house around 17,000 athletes, as well as the bulk of the
scheme's legacy housing, commercial and hotel development.
ODA said it had preferred the Lend Lease consortium, which also includes UK
specialist low-cost home builder First Base and social housing specialist East
Thames Group, to the other finalist bidder including Barratt Developments PLC,
and Bouygues PLC. A third shortlisted consortium involving Kier, Bellway,
Gladedale and Royal Bank of Scotland was eliminated last September.
London Thames Gateway Development Corporation (LTGDC) chief executive Peter
Andrews said detailed negotiations between ODA, Lend Lease, London & Continental
Railways (LCR) and Westfield would be finalised over the next few weeks.
Westfield, an Australian-listed shopping centre owner, has the rights to
build most of the Stratford City scheme, while London and Continental Railways
acted as project leader and original freehold owner of the land.
Construction work is due to start on site in early 2008 with completion of
the Olympic Village in good time for the 2012 Games.

[e-mail]
mr/nes

[ariane] 01/12/2006 18:08

Bouygues has raised Alstom stake to 25.07 pct vs 24.4 pct - AFM
PARIS (AFX) - Bouygues SA has recently raised its stake in Alstom to 25.07
pct, with an equal amount of voting rights, from its previous holding of 24.4
pct, the financial markets regulator AMF said.
In June, Bouygues acquired a 21 pct stake in Alstom from the French
government, who had taken a minority stake in the engineering and power group as
part of a financial rescue plan in 2004.
The company has been steadily buying more Alstom shares on the market since
then, prompting speculation that a full takeover bid could be in the works.
In September, Bouygues CEO Martin Bouygues said that he had no plans to
launch a takeover offer "for now."



[e-mail]
afp/js/lam

[ariane] 29/11/2006 19:55

Alstom, Areva Shares Rise on Bouygues Speculation, EU Ruling

By Nicolas Johnson

Nov. 29 (Bloomberg) -- Shares of Alstom SA and Areva SA, French makers of power stations, rose amid speculation that Bouygues SA may make a bid and on prospects that European Union air pollution restrictions may boost orders.

Shares of Alstom, which supplies pollution-control systems, jumped as much as 6.9 percent, lifting its market value to 11.9 billion euros ($15.7 billion). Areva, the world's biggest maker of nuclear reactors, rose as much as 5.6 percent. Bouygues, which dismissed the takeover talk, advanced 2 percent.

Bouygues, the world's second-biggest construction company, said two weeks ago it may consider selling its mobile-phone unit to bid for Areva if the French state sells the company. The builder, also Alstom's biggest shareholder, may sell the phone unit to bid for that company, traders said today.

``It's just a rumor, but it makes sense,'' said Pedro Alves, who helps oversee $120 million in assets, including Alstom stock, at Spot Gestao Financeira in Braga, Portugal.

Alstom shares were trading up 4.6 percent at 85.3 euros as of 2:33 p.m. in Paris. Shares of Bouygues, which has said it aims to raise its stake in Alstom to 33 percent from 24 percent, gained 87 cents to 45.23 euros, valuing the company at 15.3 billion euros.

``This rumor is completely groundless and we deny it,'' Bouygues spokeswoman Blandine Delafon said of speculation that the company will sell its phone unit to buy Alstom.

The European Union demanded that nine member governments be harsher in capping the release of carbon dioxide, or CO2, beyond 2007 so it can ensure its emissions-trading regime creates an incentive to rein in pollution.

Improve Efficiency

``Everyone is working on the CO2 reduction aspect,'' said Stephane Farhi, a spokesman for Alstom. ``One way of reducing CO2 emissions is to improve the efficiency of power stations.''

Areva, which has less than 5 percent of its shares trade as non-voting investment certificates, was up 18 euros, or 3.3 percent at 562.5 euros, for a value of 19.9 billion euros. Rhodia SA, which sells rights to its carbone-dioxide emissions, gained as much as 5.1 percent.

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

Last Updated: November 29, 2006 09:00 EST

[ariane] 29/11/2006 15:07

Alstom Higher; C02, Bouygues Talk Cited

Wednesday, November 29, 2006 9:22:38 AM ET
Dow Jones Newswires



1303 GMT [Dow Jones] Alstom (1022047.FR) +5.5% at EUR86.05, with traders citing both the tough line by French government on carbon emissions and renewed talk that Bouygues (12050.FR) may try and increase its stake as drivers. The new C02 plans would mean demand for newer power generators plus more servicing of existing ones to make them more efficient, which "suits Alstom" as the maker of carbon emission cutting equipment, notes trader. Bouygues declines to comment specifically on whether it is buying Alstom shares at the moment, but says, "our intentions haven't changed since we said in June that we reserve the right to raise our stake but we have no intention of taking control." (PBA)

[ariane] 21/11/2006 12:32

Bear Stearns Keeps Outperform On Bouygues

Tuesday, November 21, 2006 6:21:23 AM ET
Dow Jones Newswires



0956 GMT [Dow Jones] Bear Stearns reiterates outperform rating on Bouygues (12050.FR) following news Iliad (403591.FR) is considering applying for France's fourth 3G mobile license. "While concerns surrounding Iliad's potential entrance into the French wireless market are of concern, and uncertainty regarding Iliad's strategy may deter a potential buyer of (Bouygues') telecom business, we see little impact in 2007, with Bouygues continuing to take market share with its Neo/Exprima offers, and margins set to rebound," Bear Stearns says. Shares +0.2% to EUR45.03. (GLK)

[ariane] 21/11/2006 09:40

Seven nations sign breakthrough nuclear reactor accord in France

PARIS (AFX) - A seven-member international consortium has signed a formal
agreement to build a multibillion-dollar experimental nuclear reactor in
southern France, designed to emulate the power of the Sun.
Representatives from China, the European Union, India, Japan, Russia, South
Korea and the US signed the deal in Paris to build the 10 bln eur ITER reactor
over the next 15 years.
[e-mail]
afp/joy

[grupo guitarlumber] 20/11/2006 15:17

Oddo Cuts Bouygues To Reduce From Add

Monday, November 20, 2006 9:36:22 AM ET
Dow Jones Newswires



1311 GMT [Dow Jones] Oddo Securities cuts Bouygues (12050.FR) to reduce from add, citing lack of visibility for its telecoms unit following decision of competitor Iliad (403591.FR) to bid for France's fourth 3G mobile phone license and likelihood that Noos will put in an offer, too. Notes parent company's shares have risen 19% in last three months on speculation over sale of Bouygues Telecom. Cuts target to EUR41 from EUR47. Shares -2.2% at EUR45. (DGP)

[grupo guitarlumber] 20/11/2006 14:53

HSBC Upgrades Bouygues To Overweight

Monday, November 20, 2006 9:21:33 AM ET
Dow Jones Newswires



1301 GMT [Dow Jones] HSBC upgrades Bouygues (12050.FR) to overweight from equalweight on the back of the difficulty of competitive 3G entry to France. HSBC assigns a low probability to the approval of a fourth 3G license after French regulator opens public consultation period for the application. Sets price target at EUR52.00. Shares trade -2.4% at EUR44.89. (LOY)

[waldron] 16/11/2006 08:38

Bouygues May Sell Phone Unit to Fund a Bid for Areva (Update2)

By Paul Tobin

Nov. 15 (Bloomberg) -- Bouygues SA, the world's second- biggest builder, may consider selling its phone division to finance the purchase of Areva SA should France's future government decide to sell the No. 1 maker of nuclear reactors.

``We are waiting for the new government in France to decide what they will do with Areva,'' Anthony Mellor, head of investor relations at Bouygues, told investors today at a technology and media conference in Barcelona. The Paris- based company will be ``very careful'' before selling and in the meantime is ``happy'' with the unit, he said.

Bouygues has already bought a 24.4 percent stake in Alstom SA, the French maker of power stations that generate a quarter of the world's electricity, as it follows other European builders in investing in the energy industry. Areva, 95 percent owned by the state, is benefiting from a revival in the nuclear sector as countries such as Finland, China, the U.S. order plants to meet rising demand for electricity.

Mellor said the disposal of Bouygues Telecom, France's third-biggest mobile-phone operator, is one of many possible scenarios and that ``no conclusions'' should be drawn until after the elections next April and May.

`Simple Equation'

``If the valuation is right it's a very simple equation, because you're swapping an also-ran in one market for a world leader in another,'' said Tobias Woerner, an analyst at Man Financial in London with a ``buy'' rating on Bouygues stock.

Shares of Bouygues rose 18 cents, or 0.4 percent, to close at 46.8 euros prior to Mellor's comments at the Spanish conference, which was arranged by Morgan Stanley. The stock has advanced 13 percent so far this year, valuing Bouygues at 15.9 billion euros.

Bouygues's revenue from telecommunications amounted to 4.53 billion euros last year, or about 19 percent of the group total of 24.1 billion euros. Construction contributed more than 63 percent.

``Nobody knows what the new government will decide about the further privatization of Areva,'' Mellor said.

It's possible that Bouygues might seek to invest in Areva in conjunction with Alstom, he said. Areva has annual sales of 10.1 billion euros and Alstom 13.4 billion euros.

``We have so many scenarios that we are a bit confused,'' Mellor said in a question-and-answer session at the conference. ``Will Areva be privatized or not? Will it be privatized as a whole or in pieces? If we can take a stake in a new, privatized Areva will we do it alone or with Alstom? It's early to draw scenarios. We are in a wait-and-see attitude.''

Telecom Slowdown

Bouygues's construction unit, which is working through a record level of orders booked last year, has overtaken the mobile-phone business as the company's fastest-growing operation, it said on Nov. 9.

Revenue at Bouygues Telecom gained 2 percent in the first nine months, compared with 24 percent in the equivalent period last year, as calling rates declined.

``On the telecoms side they are probably a little bit more vulnerable than they care to admit, whereas Areva is a genuine world leader in nuclear technology and uranium mining,'' Man's Woerner said.

Builders in Spain have led the way in diversifying in utilities as they invest earnings from a construction boom in industries that may offer faster growth, wider profit margins and steadier returns.

Actividades de Construccion & Servicios SA, Spain's biggest builder and the third-largest in Europe, maintains power grids and holds stakes in Iberdrola SA and Union Fenosa SA, Spain's second- and third-biggest power companies.

Acciona SA is also betting on energy with the purchase of one-fifth of Endesa SA, Spain's biggest power provider. It's also investing more than 2 billion euros in the expansion of a wind-energy division.

To contact the reporter on this story: Paul Tobin in Barcelona at [e-mail]

Last Updated: November 15, 2006 16:32 EST