Overweight: Groupe Bull. (French government 's computer giant)
Economist (US), The, July, 1993
Compagnie des Machines Bull, also known as Groupe Bull, is a French government corporation, maker of computers. The bloated giant is in trouble. Bernard Pache, Bull's CEO has several plans to shore up the ailing corporation. Buying 19.9% of Packard Bell in a joint venture is just one strategy.
WHEN Groupe Bull appeared on the new French government's recently published list of companies to be privatised, bankers in Paris choked on their croissants. After all, the state-owned computer maker, which has lost a total of almost FFr15 billion ($2.7 billion) in the past three years, looks a better candidate for a funeral than a flotation. The company's fate will be a test of France's much-trumpeted conversion to a less interventionist style of industrial policy.
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