Technology Industry
Industry: Email Alert RSS FeedVEBA HAS NO PLANS TO RELEASE ITS STAKE IN BOUYGUES TELECOM.(Company Operations)(Brief Article)
Tech Europe, April, 2000
Germany's Veba energy conglomerate is not looking to sell its 17.5% stake in France's Bouygues Telecom, Board Chairman Ulrich Hartmann indicated on March 30. Fielding questions during a press conference in Dusseldorf, Mr Hartmann pointed out that the value of Bouygues Telecom is appreciating daily and that Veba has no plans to release its stake.
Veba has by contrast off-loaded its stake in another telecommunications operator, Cable and Wireless, in a deal than contributed to record profits in 1999. The conglomerate has also sold its stake in the mobile telephony operator E-Plus, a sale that will benefit profits for 2000, anticipated to be even better then those for the previous year.
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