La Poste News
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United Parcel Service Inc. appealed the European Union’s decision to block its 5.16 billion-euro ($6.7 billion) bid for TNT Express NV to clarify the regulator’s legal arguments, not to renew its interest in the Dutch rival.
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Belgium’s La Poste SA, the postal service company known as Belgian Post and owned by CVC Capital Partners Ltd., is reviving an initial public offering that could raise about 500 million pounds ($755 million), said two people familiar with the matter.
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La Poste will raise 2.7 billion euros ($3.7 billion) in new capital from the French state and the Caisse des Depots et Consignations, according to a joint statement.
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French state-owned companies La Poste and Caisse des Depots et Consignations will discuss today the possible takeover of Dexia SA’s French municipal-lending business, two people familiar with the matter said.
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La Banque Postale, France’s postal bank, wants an alternative financing structure for the share of the loans from Dexia SA’s French municipal lending unit that it will assume, Les Echos reported, citing unnamed people at the bank.
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United Parcel Service Inc.’s aborted takeover bid for TNT Express NV was formally blocked by European Union regulators because UPS failed to find a suitable buyer for parts of TNT to ensure competition for delivery services wouldn’t be crushed.
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JPMorgan Chase & Co. , Bernard Madoff’s “primary banker,” was sued for $6.4 billion by the trustee liquidating the imprisoned con man’s former firm.
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Renault SA won a bid to provide 15,600 electric cars to the French state and to the state-owned postal service, La Poste, Le Figaro reported, without saying where it got the information.
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France’s state-owned Caisse des Depots et Consignations and La Poste are joining with Dexia SA to create a new company to take over Dexia’s French municipal lending arm, La Poste’s union said.
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