In a tough week for Jean-Marie Messier, ;Vivendi's boss cancelled a Caribbean holiday to make time to sack Pierre Lescure.(Canal Plus chief executive)(this and other international business items are discussed)(Brief Article)
Economist (US), The, April, 2002
Business
In a tough week for Jean-Marie Messier, Vivendi's boss cancelled a Caribbean holiday to make time to sack Pierre Lescure, the over-independent chief executive of Canal Plus, a loss-making pay-TV unit, only days after the departure of Mr Lescure's deputy. Uproar followed from France's establishment, which fears that Canal Plus may not remain a staunch defender of French cultural exceptionalism for much longer.
United Pan-Europe Communications, a heavily indebted cable group, announced losses for 2001 of euro4.4 billion ($3.9 billion), up from euro2 billion in 2000. The Dutch-based company's shares plunged amid concerns that bankruptcy beckoned, as debt-restructuring negotiations dragged on. UPC has around euro11.2 billion in debts, some of...
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