Numericable SA and its shareholder Altice SA are preparing an offer valued at about $20 billion to merge with Vivendi SA’s French telecommunications unit SFR, according to a person familiar with the matter.
European stocks were little changed, after two days of gains, as a measure of German investor confidence fell more than forecast and the Federal Reserve Bank of New York’s general economic index missed estimates.
PSA Peugeot Citroen’s possible 3 billion-euro ($4.1 billion) stock sale is being challenged by a French shareholders’ group, which said the potential investors planning the move may be required to make a full takeover bid.
The family that controls PSA Peugeot Citroen has agreed to sell shares to Dongfeng Motor Corp. and the French state as part of a plan to raise 3 billion euros ($4.1 billion) in fresh funding for the ailing automaker, two people familiar with the matter said.
Francois Villeroy de Galhau, BNP Paribas SA’s co-chief operating officer, denied that he’s leaving the bank to become President Francois Hollande’s chief of staff, Les Echos reported, citing an interview. * Link to Les Echos story (French): NSN MX9CSH3HBS3K <GO>
Electricite de France SA plans to take another month to decide on whether to sell its U.K. distribution network to cut debt, French daily Les Echos reported, without saying where it got the information.