France Telecom SA will join the parent company of the Nouvel Observateur magazine in its bid for a stake in Le Monde, France’s struggling newspaper of record, according to the magazine’s chief executive officer.
Veolia Environnement SA wants to eliminate a fifth of jobs at its Paris headquarters, Le Nouvel Observateur reported on its website, citing Jean-Marie Lambert, the company’s head of human resources. *Job-cut plan to take off in January: newspaper *Company wants departures to be on a voluntary basis, but if by mid-year 2013 target of 100 job eliminations isn’t reached, company will resort to firings: newspaper
After Philippe Varin steered steelmaker Corus Group Ltd. away from bankruptcy 10 years ago, he was made commander of the order of the British Empire for “services to the U.K. steel industry.” As chief executive officer of PSA Peugeot Citroen, there’s scant chance he’ll get a similar honor in France.
France Telecom SA, Nouvel Observateur, and Promotora de Informaciones SA are offering about 100 million euros ($123 million) for control of French newspaper Le Monde, according to a person familiar with the situation.