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Investor AB raises stake in ABB to more than 10 pct
2015-11-10 17:38:13| Appliances - Topix.net
ABB's biggest shareholder Investor AB raised its stake to 10.03 percent, according to a regulatory filing, continuing a pattern of steadily increasing its holding in the Swiss engineering group. Sweden's Investor AB had 9.5 percent in ABB on Sept.
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France aims to drop its Renault stake to 15%
2015-11-10 14:17:38| Automakers - Topix.net
French economy minister Emmanuel Macron reiterated Tuesday that the French government intends to lower its stake in Renault SA to 15% and insisted the government opposes significant changes in the alliance between the French car maker and Nissan Motor Co. The government's decision earlier this year to raise its stake in the French car maker to almost 20% caused tension on the boards of both companies as the move changed the cross-shareholding system underpinning the alliance.
KPN sells 5% stake in Telefonica Deutschland for EUR 805 mln
2015-11-10 13:17:00| Telecompaper Headlines
(Telecompaper) KPN has sold a 5 percent stake in Telefonica Deutschland to institutional investors for EUR 805 million. The 150 million shares were sold in an accelerated bookbuilding at EUR 5.37 each, a small discount to the EUR 5.47 closing price the day prior to the sale. KPN acquired a 20.5 percent stake in Telefonica's German subsidiary when it sold E-Plus to the company last year. With the latest share sale, KPN's stake in Telefonica Deutschland is reduced to 15.5 percent. KPn said it will use 70 percent of the proceeds from the sale to pay dividends and the remainder to stengthen its balance sheet. The Dutch operator agreed to not sell any further shares in Telefonica Deutschland for 90 days.
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National Grid to sell stake in gas unit
2015-11-10 09:25:25| BBC News | Business | UK Edition
The UK power operator National Grid is to sell a majority stake in its gas distribution business.
Orange sells stake in Kenyan unit to Helios Investment
2015-11-10 08:15:00| Telecompaper Headlines
(Telecompaper) The Orange Group announced that it has signed a binding agreement with Helios Investment Partners for the sale of its entire 70 percent stake in Orange Kenya. Orange said the completion of the transaction remains subject to approval from the relevant authorities. The deal reflects Orange's constant focus on optimising its portfolio of assets, and the Africa and Middle East region remains a strategic priority for the group. Orange Kenya is the country's incumbent fixed line operator and the third player in the mobile market. The company had 4 million mobile customers at the end of June, according to figures published by the regulator.
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