Vivendi SA will hold a supervisory board meeting today as it edges closer to a decision over the sale of French phone unit SFR, subject of a monthlong bidding war between cable tycoon Patrick Drahi and Bouygues SA.
Vivendi SA’s board is free to choose a buyer for its SFR phone unit even as state-owned Caisse des Depots et Consignations backs one of the two bidders, CDC Chief Executive Officer Jean-Pierre Jouyet said.
The primary role of France’s Caisse des Depots et Consignations, a state-run bank, isn’t to save troubled companies like PSA Peugeot Citroen and Doux SA, new head Jean-Pierre Jouyet told Journal du Dimanche in an interview.
Regulators may need to develop “circuit-breakers” that halt high-frequency trading practices like those that exacerbated a stock market plunge a year ago, said the head of France’s financial markets regulator.
Former Nasdaq Stock Market Managing Director Donald Johnson pleaded guilty to using information gleaned from his position with the exchange to engage in insider trading, the U.S. Justice Department said.
Standard & Poor’s, Moody’s Investors Service and Paris-based Fimalac SA’s Fitch Ratings Ltd. should make ratings on companies more transparent to increase their usefulness to investors, France’s market regulator said today.