Free songs
Don't Miss

France To Help Pakistan Ease Energy Crisis: Ambassador

Hollande Giving Workers Say in M&A Deepens Fortress-France Image

to invest in YouTubes smaller rival DailyMotion, a unit of phone operator Orange SA (ORA) , in which the state is the single-biggest shareholder with a 27 percent stake. Orange Chief Executive Officer Stephane Richard had sought to sell a majority stake in DailyMotion to expand the brand and finance research. Industry Minister Montebourg summoned executives of the two companies to the finance ministry in April, giving them a dressing down and accusing the Orange executive of selling one of Frances crown jewels, said a person with direct knowledge of the discussion. The deal was abandoned. The new rules would add a level of complexity to a process that foreign buyers already deem cumbersome. Constraining Legislation Under the new rules, the workers committee of a target company will be able to name an accountant to assess a bid and would have a month to render its non-bidding view, which would be required before the board of the target company publishes its official response to a takeover offer. The works council could ask a judge to intervene if it feels it didnt get satisfactory responses to its queries, potentially delaying any deal. The reforms will make everything much more complex, particularly when the works council intervenes, Martel said. The law would also force a company with more than 1,000 employees that wants to close down a site to look for a buyer for three months. If it fails to do so or turns down a serious offer, a judge may impose a fine of up to 20 times the minimum wage for each job loss, or a maximum of 2 percent of annual sales. Our labor legislation is particularly constraining and is scaring off a lot of people, while foreign investment could help our economy, Olivier de Vilmorin, an M&A lawyer at Sullivan & Cromwell LLP in Paris, said in an interview. The proposed bill isnt likely to make France more attractive to investors. To contact the reporters on this story: Jacqueline Simmons in Paris at jackiem@bloomberg.net ; Francois de Beaupuy in Paris at fdebeaupuy@bloomberg.net ; Marie Mawad in Paris at mmawad1@bloomberg.net . To contact the editor responsible for this story: Vidya Root at vroot@bloomberg.net ; President Francois Hollande Philippe Wojazer/AFP via Getty Images President Francois Hollande speaks with employees during his visit of the ArcelorMittal steel factory in Florange on Sept. 26. President Francois Hollande speaks with employees during his visit of the ArcelorMittal steel factory in Florange on Sept.

Talking to media persons after inaugurating a roadshow titled, ‘World of Energy Efficiency for a better Pakistan,” here by Schneider Electric, a company which offers solutions for energy management, the ambassador said France was collaborating with other partners including Asian Development Bank etc on different components of energy-related projects and one of these schemes which cost $600 million would help Pakistan save 1000 WM. Replying to a question, he said France had international commitments and would abide by them with regard to the Pakistan-Iran gas pipeline project. The ambassador said Pakistan was a sovereign state and took decisions on their own for meeting its energy needs. As far as French government was concerned, he added, it would go by the international commitments, adding Pakistan had not requested for cooperation with regard to the Pak-Iran gas pipeline project. He said France was focussing on small projects including “Munda Dam” and other hydropower projects to efficiently ease energy crisis in Pakistan. Earlier inaugurating the show, he lauded the management of Schneider Electric for bringing their whole product profile under one roof. He said that such roadshows will definitely leave an impact on energy efficient measures in future. He said the roadshow was being held under the umbrella campaign Experience Efficiency to showcase the complete energy solution portfolio of Schneider Electric under one roof. He said the event would act as a platform to educate the national stakeholders about energy solutions and seek to address energy challenges by offering solutions that add value to one’s business in the long run while aimed at all relevant audience of Schneider Electric – end users, government entities and the partners, the event will also touch upon key innovative and industry leading breakthroughs Schneider Electric have achieved globally including Ecostruxure, Struxureware and Smartstruxure. The event is being leveraged as a platform to showcase Schneider Electric’s portfolio of integrated solutions that facilitate intelligent energy management for its customers. Benoit Dubarle, Country President – UAE, Oman & Pakistan, Schneider Electric Gulf said “Our roadshow offers a unique platform to identify new opportunities and a chance to meet with influential thought leaders and decision makers in the sectors we focus on – energy, IT, finance, government, hotels, healthcare and manufacturing. The event highlights the growing role of Pakistan in the Schneider Electric world and our effort to bring the best technologies and expertise in the energy management space to our customers in Pakistan. The event aims to deliver high quality networking and business development opportunities. It is also be the right occasion for the attendees to meet with experts and specialists from Schneider Electric.” Elaborating further, Mohkam Sheikh, Vice President, Power Business Unit, Schneider Electric said that” One of the major focus of the event is our Ecostruxure booth, an integrated solution from Schneider Electric which can reduce the energy consumption by 30 percent of a particular building or manufacturing facility. At the roadshow, Schneider Electric is exhibiting its industry-first solutions in the Energy Management space.

Air France-KLM may help Alitalia under conditions: report

But the talks failed to reach any decision because of the uncertain political climate and another meeting was called for next week. There are worries that any Air France-KLM investment would clash with Italy’s ambition to make Rome a hub for intercontinental flights, and instead turn Alitalia into a regional player and trigger job cuts. But de Juniac’s comments signaled he did not doubt Alitalia’s ability to operate on long-haul routes – a strategy the group is betting on to revive its fortunes after its plans to become a strong regional player came unstuck in the face of tough competition and lower demand. “Air France-KLM-Alitalia, if one day we are united, could become a very great European brand. In such a scenario, we could supply (Alitalia’s) long-haul flights with passengers from Air France and KLM and they could do the same for us,” he said. De Juniac added that he could see Alitalia boosting its intercontinental routes where its own network might be weak. “Alitalia has strong points in Africa, Latin America and North America, where there is a strong Italian diaspora that can complement ours,” he told the paper. “Alitalia strengthens our commercial footprint pretty much everywhere. There are already many synergies.” NO CAPITAL INCREASE Analysts said Air France-KLM was unlikely to give up on Alitalia by letting it fail and opening Europe’s fourth-largest travel market to more competition. But Air France-KLM has set strict conditions on how the company should be restructured. Sources said last week that Air France had voted against a proposed capital increase at Alitalia of at least 100 million euros ($135 million).

Comments are closed.

Scroll To Top