European Press Roundup: German Sugar Heavyweight Faces French Beet-Farm Resistance

In Europe today, Theresa May said she would quit as British prime minister once her party chooses a successor and Danish shipping giant AP Moeller-Maersk swung to a surprise loss. Read about the above topics on Dow Jones Newswires or WSJ.com.

In Other Media...

German sugar heavyweight Suedzucker's planned factory closures are met with resistance in France. The Association of French Sugar Beet Producers is working on a rescue plan and wants to buy the two affected plants in the northern French towns of Eppeville and Cagny. Suedzucker wants to close the plants nevertheless. "We do not end sugar production in order to offer it to other players, but in order to remove excess capacities from the market," said Chief Executive Officer Wolfgang Heer. -FAZ

French door-to-door frozen-food delivery company Toupargel will cut 265 jobs after booking heavy losses. The cuts represent about 11% of its staff. -Les Echos

Telecom Italia would keep the control of its network and leave it open to wholesale competitors, should a merger with Open Fiber happen. -Il Sole 24 Ore

Wirecard plans to appoint former Deutsche Boerse CEO Thomas Eichelmann as a member of its supervisory board and will ask shareholders to vote on Eichelmann's appointment at its June 18 annual general meeting. -Handelsblatt

British investor NewRiver REIT and Bravo Strategies III, a fund run by Allianz-owned U.S. asset manager Pimco, have launched a joint venture to buy four retail parks in Aberdeen, Dundee, Inverness and the Isle of Wight for 60.5 million pounds ($76.5 million). -The Times of London

Greece's Prime Minister Alexis Tsipras says that if Sunday's European election result doesn't give him a vote of confidence, all cards will be on the table, leaving open the possibility of calling an election before this fall. Although the vote is not for a national election, it is an important one, as "people are voting on the political plan that Greece will follow in the coming years," he said. -Kathimerini

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(END) Dow Jones Newswires

May 24, 2019 07:36 ET (11:36 GMT)

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