European Press Roundup: Lactalis to Take a Hit, Inditex Sells Stores
01 February 2018 - 11:13PM
Dow Jones News
In Europe today, rising oil and gas prices helped Shell more
than triple its earnings and Roche's net profit was hit by
impairments. Read about the above topics on Dow Jones Newswires or
WSJ.com.
In Other Media...
Lactalis CEO Emmanuel Besnier says the contaminated-milk scandal
will cost the company hundreds of millions of euros. The company
will also close one of the drying towers at its Craon plant in
Mayenne, which it identified as the source of the contamination.
-Le Monde
Inditex, the parent company of Zara, has sold 16 stores in Spain
and Portugal to the German fund Deka. The company hasn't disclosed
the value of the transaction, but sources in the sector say it
could be around EUR400 million. Inditex said it will continue
renting the stores it has sold. -Europa Press
The price range for Metrovacesa's IPO could be lowered as
bookrunners BBVA and Santander, which also own the company,
couldn't place all the shares at the original price. Metrovacesa's
listing is set for Feb. 5, and today is the last day for investors
to buy in. The price range was originally set between EUR18 and
EUR19.50. -Cinco Dias
EU citizens who settle in the U.K. during the so-called Brexit
transition period--March 2019 to December 2020--may have different
rights than those who arrived before Brexit, Prime Minister Theresa
May said. The new rules, which could include mandatory work permits
and restricted access to benefits, are "a matter for negotiation,"
May added. -The Guardian
A GBP21-billion funding hole has been found in a U.K. Ministry
of Defense equipment plan to buy warships, jets and submarines, the
country's National Audit Office said. -The Times of London
Anti-corruption association Anticor has filed a complaint with
French financial prosecutors, alleging that France's Ministry of
Economy and Finance gave up a financial gain of at least EUR350
million related to Siemens's acquisition of Alstom. -Le Monde
The EU could introduce measures to prevent the U.K. from
undermining the bloc's economy by cutting taxes or relaxing
regulation after Brexit. These measures, which could include
penalties against state-subsidized firms and tax blacklists, are
aimed at ensuring a "level playing field" in the future U.K.-EU
relations. -FT
Vivendi's CEO Arnaud de Puyfontaine is upbeat about an agreement
between Vivendi and Mediaset to settle a long-running dispute over
a failed pay-TV deal. -Il Sole 24 Ore
McDonalds' managing director in Belgium, Stephan De Brouwer,
says the fast-food company plans to invest EUR25 million and open
at least four new restaurants in 2018, which will create new jobs.
-L'Echo
Deutsche Boerse's new CEO Theodor Weimer has suspended his
predecessor's "group-management committee" in a first move toward
streamlining bureaucracy at the German stock-exchange operator. The
group was slowing down decision-making and watering down
responsibilities, in the view of many at the company. While the
committee is only suspended for now, sources expect Mr. Weimer will
get rid of it altogether. -Handelsblatt
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(END) Dow Jones Newswires
February 01, 2018 06:58 ET (11:58 GMT)
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