International News

While falling the first quantitative estimates on the losses caused by the bacterium E. coli (EHEC) on the French market garden industry, the doubts expressed Friday by Bruno Le Maire, who feared a "very negative impact" on the French production of vegetables, proved correct. So much so that the French Minister of Agriculture will visit Brussels on Monday to ask European authorities to release the compensation for French fruit and vegetables. That's what he said last night during a trip to Washington as part of the preparation of a G20 meeting.

The bill could climb quickly, especially if other European countries adopted the same position. Only in France, in a week, the losses for the chain of cucumber and tomato were almost 5 million.In Spain, they reach for the entire industry around 200 million euros, according to the Spanish Federation of Producers and exporters of fruits and vegetables (FEPEX), 75 million euros for the single chain of cucumber.

Germany will not pay

Ultimately, who pays for that damage? The issue remains unresolved, some arguing that Germany, by criminalizing the original Spanish cucumbers in the spread of the disease, is mainly responsible for the current situation and the financial losses suffered by producers. Since then, the vegetable has been exonerated, no evidence has been presented that is causing the infection. For some, Germany should pay the compensation sought. A scenario has completely rejected on Saturday a Reinhard Schäfers Europe, the German ambassador in France no fax payday advance."I can not imagine it will financially compensate," he said, justifying the information given by a need for transparency. "When we did, we had found something on some cucumbers Spanish. When you have information to one point, you must tell the public, "he added.

"We are victims of an epidemic," he said. That is what concerns us for now. There are mechanisms at European level to deal with it ", confirming the position of Bruno Le Maire.

Expected meeting June 17 in Luxembourg

In addition, the Minister recalled Friday absolute necessity "not to lower our guard for food safety," tackles and the attempts by some European countries to "re-nationalize agricultural policies."Having considered excessive embargo imposed by Russia on European imports of fresh vegetables (594 million euros in 2010), the Minister has however called for a "total safety" at the intra-European and its boundaries, based on traceability and controls. There remains the question of the cost of such tests. A question that Bruno Le Maire has not evaded, but without giving numerical estimates. This position closes, the minister should defend it on June 17. A meeting with his EU counterparts in Luxembourg should indeed be confirmed within 48 hours to study the responses to health crises, but also to improve their prevention.

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Nicolas Sarkozy has opened Tuesday morning the first edition of "e-G8 in Paris. Faced with a thousand decision makers and observers of the Internet – including Mark Zuckerberg, the founder of social networking site Facebook and Eric Schmidt, Google CEO, who made the trip – the president has invited the giants of the Internet to form a delegation to attend Thursday and Friday at the G8 summit in Deauville. Because, for Nicolas Sarkozy, "think the Internet is a historical responsibility to be shared between you (the Internet players, Ed) and we, the Heads of State" have the duty to "recognize the role (the web) in the course of history (…).States wishing to initiate a dialogue with you for a balanced approach might one day be found between your interests, those users who plébiscitent you every day and finally those of the citizens and taxpayers of each nation who also have rights, " the president said. "There is much to do together," he held, inviting them to renew the holding of an e-G8 annually.

The head of state welcomed these Internet giants that have revolutionized the world. Revolution "that belongs to nobody, which has no flag, no slogan, which is a common good," which took place in an "historic" registered "in pacifism." Nicolas Sarkozy also praised the Internet to be a few years become the vector of "unprecedented power of freedom of expression," referring to the revolutions that challenge the Arab region since the beginning of the year.For the head of the state, Internet giants, who have "changed the world just as Galileo, Columbus and Newton, have shaken the foundations of the global economy (they are) become major players" .

Introduce rules on the Web

Still, he stressed the need to control the Internet. "The technology must remain neutral, but the uses are not," he said, arguing that actors do not let it web "convey evil, without hindrance, or restraint" and for the respect of a minimum values ​​and rules on the Web."Full transparency, one that never leaves the man in peace, sooner or later faces the very principle of individual freedom," stressed the French president, arguing that the Internet can not escape "of minimum values, minimum of rules. "

He returned to the issue of intellectual property rights: "I know that the French conception of this principle is different from that of other countries, but nobody should be expropriated with impunity the proceeds of his ideas, his work, his imagination, his intellectual property. "

The Chair recalled that by virtue of that right as creator of those who draw the contours of the Internet have been able to build empires."The writer, director, musician, performer must have the same rights and a fair return for their ideas and their talents."

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The legend tells that one day, during an international summit, Dominique Strauss-Kahn had dropped to Christine Lagarde, a playful tone that one day he was president he would keep at Bercy. Of course the Minister of Economy has always denied this story and more today, then it appears hour after hour as the favorite candidate to succeed DSK.

Officially, she declined comment. But long before the scandal broke DSK, senior officials in his office did not hide their fear to see her leave Paris for Washington prematurely. They know how much she wants this job and especially that it has all the skills to hold: perfect English, love of U.S. knowledge of the workings of monetary negotiations and all the great leaders of this world … Christine Lagarde CV ideal.Moreover, it is sufficient to formally apply for almost be guaranteed to gather in his name all the votes in Europe, both German Chancellor and Minister of Finance appreciate.

But: it has been mired for months in the case that Tapie place under the threat of a lawsuit by the Court of Justice of the Republic. A sword of Damocles that is bad style court when the former IMF chief languishing in jail. Second question, at this stage: Nicolas Sarkozy is willing to let his Economy Minister in new horizons, to a year in the presidency? Nothing is less certain: the Éysée is currently in radio silence mode

The Paris Bourse took a breather on Thursday morning at the open after sharp declines seen the day before (the CAC 40 fell 1.31% and fell below 4050 points). At 9:00, the index lost 0.10% to 4039.10 points. Otpimiste trend a bit more in Europe where the FTSE London hotel departed from 0.19% to 5995.27 points while the Dax wins 0.46% to 7408.17 points. Both indices had suffered the heaviest losses the Cac yesterday.

In Japan, markets are still closed, but in the rest of the region, the trend has been generally plombéepar investors disappointed by the economic numbers have fallen the day before the United States, which have been faltering and Wall Street. The U.S. ISM services has indeed disappointed while the ADP employment figures in April came out worse than expected.Furthermore, oil inventories surged against all odds, which gave the lead in using oil, which fell below $ 110 in New York yesterday, and changing CNoR down in Asian trade this morning .

On the foreign exchange market, the euro is also strong: it is trading at 1.4878 dollars (+0.32%) to 9 hours after once again exceeded $ 1.49 during the meeting Wednesday.

In anticipation of the ECB

Statistical side to follow on Thursday in Germany, at noon, destatis provide figures on German industrial orders in March. On Thursday, the ECB meets in Helsinki to decide on interest rates that will apply. Jean-Claude Trichet said Thursday it is the price of silver in early June or summer. In England, the BoE also decide on interest rates.

United States, expected productivity in the first quarter (first estimation) to 14.30.Same time, it will be the traditional unemployment claims. The employment figures that will fall tomorrow, Friday, are eagerly awaited. Yesterday, investors learned that ADP figures have reported a creation 179,000 jobs in April, less than expected.

Societe Generale falling, Carrefour sentence

Side values, a publication of rain fell again on Thursday quarterly earnings including Societe Generale, disappointing driving down the stock price by nearly 3% at the opening, drape the CAC.

After the excellent figures given yesterday by BNP Paribas, leading bank in Europe, SocGen announced a net profit of 916 million euros in the first quarter, a decrease of 13.8% over the same period of 2010 attributed to effect accounting related to the revaluation of its own debt.

Gadin the other day, the retail group Carrefour (-2.37% to 30.86 euros), which announced Thursday the departure of its Executive Director James McCann France and the postponement of a controversial quotation of its real estate subsidiary, but maintained its draft rate 100% subsidiary of Dia and its financial targets for 2011.

Lafarge (-1.43% to 45.02) reveals a net loss of 29 million euros in the first three months of the year for a turnover up 9% to 3.55 billion euros .

Legrand (-0.95% to 30.17 euros) in the first quarter increased 13.7% in sales and 41.2% of its net profit, thanks to emerging markets and new market segments which the group has made a priority, which has confirmed its annual targets.

Bureau Veritas (-0.74% to 57.88 euros) confirmed anticipate strong growth in its turnover and adjusted operating profit this year after an increase of 23.2% of its activity in the first quarter .

AXA (-0.37% to 14.94 euros) expressed confidence in improving its profitability despite a drop of 2% of its turnover in the first quarter to 27.92 billion euros.

Maurel & Prom, Arkema and Capgemini climb

The independent oil company Maurel & Prom announced Thursday want to split and rate of its independent subsidiary in Nigeria, whose shares will be distributed to the shareholders in proportion to their participation in the group cash advance to savings account. The action takes off from 4.87% to 14.74 euros this morning.

Arkema (4.34% to 4.24 euros). The net profit quadrupled to 151 million euros and EBITDA (EBITDA) reached 17% of sales through an increase much higher than the market. This puts us among the best chemists.

The French group consultancy Capgemini and Computer Services (2.07% to 41.35 euros) saw sales increase by 14.5% in first quarter 2011 to 2.3 billion euros and confirmed its objectives of achieving a growth in turnover of between 9 and 10% for the year.

The producer of wines and spirits, Pernod Ricard (1.93% to 68.27 euros) Thursday announced an increase in its turnover in the third quarter and confirmed its targets for its entire fiscal year (July 2010 – June 2011).

Air Liquide (+0.48% at 97.41 euros) wants equity for the premium

Its CEO said he was open to the principle of paying a bonus to employees in case of dividend increase, provided to maintain the equity in a group with more than three-quarters of the members are outside France.

Alstom: 0.16% to 42.69 euros Moody's raised its outlook on the Baa1 rating on the group stable, negative cons.

Total: 0.56% to 42 euros, GDF Suez: 0.37% to 26.78 euros a parliamentary commission on Wednesday passed a bill to ban UMP in France in the exploration and exploitation of hydrocarbons not conventional gas and oil shale.

Michelin (+0.35% at 66.74 euros) announced an increase in the price of its truck tires, civil engineering, public works, agricultural and handling in Europe to meet the continually rising cost of raw materials.

TF1 (+0.12% at 12.68 euros), which has suffered several setbacks during the hearing last month, decided to appoint a new program director, Jean-François Lancelier, which takes the place of Laurent Storch .

The French chemicals group Rhodia (+0.14% to 31.52 euros) on Thursday posted net unbénéfice 151 million euros in the first quarter more than doubled over one year and raised its profitability target for 2011 to become a recurring gross operating profit of "more than 1 billion euros."

Veolia Environnement (+0.54% at 22.27 euros) on Thursday posted a turnover up 11.3% in the first quarter thanks in particular to the resumption of its activities in the waste.

Mr DIY (+0.64% at 14.14 euros) confirmed its targets for 2011 after publishing a stable turnover in the first quarter to 135.2 million euros.

Gifi (+2.15% at 75.99 euros) registered a growth of 5.2% of its turnover for the first half of its fiscal year 2010-2011, to 351.3 million euros.The turnover of the group's second fiscal quarter ended March 31 rose 7.5% to 139.1 million euros.

Cegedim (0.94% to 43.05 euros) has reported a sales increase of 2.9% as reported to 211.5 million euros, but down 1.4% comparable data available, and maintained its target of 4% growth in turnover for 2011.

The food group Bonduelle (0.57% to 68.50 euros), specializing in vegetables, posted a rise in its turnover for the third quarter from 14.6% to 421.6 million euros thanks to an improvement in consumption, particularly in eastern Europe, according to a statement.

Tonight will be the turn of Vale, Wendel, Eiffage French Cement and NextRadioTV publish.

U.S. exchanges to raise. After closing sharply lower Monday, Wall Street opens on Monday, up slightly Tuesday. The Dow Jones gained 0.12% and the Nasdaq rose 0.22%.

Before the publication of the results tonight Yahoo and Intel, the return to stock market indices through better than expected corporate earnings and renewed housing construction in March.Housing starts rose 7.2% and building permits by 11.2%.

The day after lowering the outlook on the U.S. debt by Standard and Poor's, Treasury Secretary Timothy Geithner said the country was "in a much stronger position (than other countries) to deal with its difficulties. "

Oil prices continue to fall Tuesday in the opening exchanges in New York, as investors questioned the impact of high prices on demand.In early afternoon on the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for May delivery traded at 106.25 dollars, down 87 cents from the previous day.

Citigroup: 0.90% to 4.46 dollars

Citigroup announced Tuesday that he gradually got rid of a portfolio of 12.7 billion dollars of toxic assets account for a large portion of its losses during the crisis in order to mitigate the anticipated effects of the implementation establish rules of Basel III.

Johnson & Johnson 2.98% to 62.26 dollars

Johnson & Johnson on Tuesday net profit down 23% to $ 3.47 billion for the first quarter but remained higher than expected (3.2 billion dollars). Turnover, up 3.5% to $ 16.2 billion, also exceeded expectations (15.83 billion U.S. dollars).The group raised its forecast for annual earnings per share, taking it to a range of 4.90 to 5 dollars, against a previous range of 4.80 to 4.90 dollars and a forecast of analysts of 4.83 dollars.

NYSE Euronext: 1.17% to 38.77 dollars

Nasdaq OMX stock exchange operators and IntercontinentalExchange noted Tuesday their proposed purchase of NYSE Euronext board of directors of the places in New York and Paris payday loan.

State Street: 2.08% to 45.60 dollars

State Street issued on Tuesday a quarterly operating profit rose to 444 million, or 88 cents per share, slightly above the consensus.

General Motors: -1.33% to 29.57 dollars

The U.S. Treasury could sell much of 33% of shares he still owns stake in General Motors this summer or fall, according to a source familiar with the matter.Neither the timing nor the size of the sale, however, have yet been determined.

Goldman Sachs: -0.42% to 153.14 dollars

Goldman Sachs announced Tuesday a 72% decline in earnings in the first quarter compared to last year to 908 million. Analysts expected a profit of about $ 477 million. The turnover of the bank stood at $ 11.9 billion in the quarter, down 7% year on year but higher than the 10.2 billion expected by analysts.

Bank of New York: -1.78% to 28.68 dollars

Bank of New York reported Tuesday in a 4% rise in quarterly profit to 625 million, supported by higher asset management revenues and commissions.

Seagate Technology: -2.91% to 17.32 dollars

Seagate Technology will buy the operations of disk drives from Samsung Electronics for $ 1.4 billion in cash and stock, said on Tuesday South Korean group.

Texas Instruments: -0.98% to 34.45 dollars

Texas Instruments on Monday announced a quarterly profit slightly below expectations. The first quarter earnings rose to $ 666 million, or 55 cents per share, against $ 658 million and 52 cents a year earlier.

Harley Davidson: -1.68% to 39.04 dollars

Harley Davidson reported earnings per share of $ 0.51 in the first quarter, below the consensus at $ 0.53. The group recorded quarterly revenue of 1.06 billion euros, against 1.05 billion expected.

The Cac 40 should begin the session and week, up on Monday morning. Asian markets are facing this morning as Wall Street Friday, which closed on an increase of 0.43% after the release of employment figures better than expected in the United States.

This week, the industry is in the spotlight, during the first week of national industry. The report on the financing of green growth, produced by the Economic Council for Sustainable Development (CESD) is to be delivered this morning. The International Energy Agency will provide an update on smart grids. No macroeconomic statistics is expected Monday.Parisian investors should therefore focus on the many acquisitions announced this weekend, and this morning before the market opens.

Six acquisitions announced in 48 hours

Rhodia announced Monday it had signed an agreement yesterday with the Belgian Solvay has made a friendly takeover offer on its entire capital, to 31.60 euros per share.

Vivendi announced yesterday that it bought the 44% held by German Vodafone SFR to 7.95 billion euros. It possesses the entire share capital of the telephone operator.The operation should allow to "increase the dividend for 2012, said Jean-Bernard Levy, CEO of Vivendi.

Sanofi-Aventis holds 84.6% shares of Genzyme, following its takeover offer on U.S. biotech.

Ingenico announced Monday the acquisition activity in the United States from its U.S. rival Hypercom for $ 54 million. The specialist in payment terminals and wants to strengthen its position in the United States.

The price of nuclear electricity generated by EDF and sold to competitors at wholesale prices would be set at 40 euros per megawatt, according to Les Echos, which states that this rate is still subject to validation of the Elysee. EDF demanded 42 euros per MWh.

PagesJaunes bought the site from ads Avendrealouer.fr, which was previously held by PriceMinister.The transaction, whose amount was not disclosed, will enable it to dethrone Seloger.com head of the French market.

The Moroccan telecoms operator Meditel, which France Telecom holds 40% stake, recorded a 126% jump in net profit last year thanks to the expansion of its clientele, said Friday the official news agency MAP .

Side publications Monday, Delachaux should submit its accounts to 8.30. The annual results of Aegis is also expected. Argan the land must submit its turnover in the first quarter of 2011.

The costs of fund management Safely dropped a point in five years, reaching 3% in 2010. "Unbeatable for 400 billion euros in benefits provided to 360 premium collected," Judge Dominique Libault, Director of Social Security. "A form of performance" made possible primarily by the online services that reduce the "paperwork" to be treated while improving service (Pajemploi, CESU, Vitale Ameli.fr or to name the best known examples).

These productivity gains allow a policy close to the non-replacement of retiring in two applied to the state: 10,000 job cuts and less in Medicare and another 4,000 planned, workforce stability despite the CFO care benefits for civil servants and RSA no fax cash advances… In the end, the number of general system-level income "from 1976, according to Peter Mayer, director of CNAV.Other projects are underway: Medicare Expands Sophia, escort service for diabetics, an experiment takes place to optimize the treatment pathway after maternity … The branch family, she launched the site in 2009 my-enfant.fr to seek care arrangement. "Families find all the host schools, child-minders in 70 departments and a cost calculator," said Herve Drouet, its director.

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Shortly before the opening of U.S. stock markets, the Nasdaq 100 index futures and Standard & Poor's 500 index retreated 0.62% respectively at 2289.25 points from 0.60% to 1297.70 points. The Dow Jones was due in part to its decline from 0.44% to 12,041 points.

What foreshadow a third straight session of declines. Yesterday, the Dow Jones had however managed to reduce its losses throughout the day to finish on a slight decline of 0.9% to 12,105.8 points. The Nasdaq, which fell 2% in session was also limited the damage, finishing on a withdrawal of 1.2%. The Standard & Poor's 500, after losing more than 1%, did ultimately crumbled by 0.6%.

The escalating violence in Libya andthe outbreak, more vivid than ever, oil, continue to weigh heavily on markets, on both sides of the Atlantic.Especially since Libya has suspended exports of gold and black as the risks of contagion to other exporting countries is not excluded.

In this tense international situation, which could be added on Thursday, some concern investors face early elections in Ireland, macroeconomic indicators of the day will they manage to weigh?

Durable goods orders, new housing and unemployment

On the agenda on Thursday are expected, from 14.30, orders for durable goods in January, enrollment to unemployment benefits. Thereafter, at 16.00, new home sales. The weekly petroleum stocks are finally known, at 17:00.

Orders for durable goods are expected up 2.8% or 0.5% excluding transportation. 405,000 new jobless claims are also expected.The FHFA index of house prices should receive a decrease of 0.1%, while sales of new housing could fall by 7.3%.

GM and AIG publish their figures 4th quarter

On the corporate side, General Motors (GM) will announce its results for the fourth quarter before trading, while AIG to sacrifice the performance after market no fax cash advance.

Investors may also keep an eye on Procter & Gamble, whose chief financial officer, Jan Moeller, participates in a Consumer Analyst conference in the afternoon.

Sears Holdings has reported a quarterly profit decline because of poor sales from the department store chain that bears his name.

Limited Brands announced Wednesday night a 27% increase in earnings for the fourth quarter thanks to healthy sales of its lingerie brand Victoria's Secret.The group posted net earnings of 452.3 million dollars, or $ 1.36 per share, against 356.1 million ($ 1.08) a year ago.

Bank of America was sued by investors who require it to redeem their mortgage loans which are backed by over $ 1.06 billion of securities they hold. Net income for the fourth quarter fell to 374 million dollars (3.43 dollars per share), against 430 million dollars (3.74 dollars per share) a year ago.

Magna International announced yesterday that it returned to profit in the fourth quarter, production and sales of cars continues to increase worldwide. Net income for the automotive stood at $ 216 million, or 88 cents per share.A year ago, the equipment had suffered a loss of $ 139 million or 62 cents per share over the same period.

Moreover, airlines, including American Airlines (-6.55% at the end), United (-6.8%) and U.S. Airways (-7.5%) should still pay the price, this Thursday, Arab crisis and soaring oil prices running.

Hewlett Packard (-0.6%) for its part will probably be very guarded today, having been severely punished after publication of its results.

The Pentagon is expected to unveil on Thursday its decision on the mega contract for refueling tankers to the U.S. Air Force, for which Boeing and Europe's EADS are competing for several years.

Late SNCF again culprit. According to a survey conducted by the CFDT, only one train in three on average arrive on time. To achieve this, hundreds of union activists have noted the arrival of 1964 trains between January 24 and February 17 last. Conclusion: if one third of the trains are punctual, 35% have a delay of between one and five minutes, and 24% between six and fifteen minutes. Users being the most unlucky people who use the train to travel from Paris to Caen: a second train arrived there only at the scheduled time. According to the study of the CFDT, Transilien and TGV would be a little more punctual (respectively 33% and 31% are) as ESTs (25%). The only consolation for the SNCF in this study: the delay is due in approximately 70% of cases to an external cause on which the railway group can do nothing.Remaining 30% of situations where it is fully accountable, according to the CFDT, the inaccuracy of its trains.

Strikes user

A lack of punctuality that starts to annoy users. At the point that last January, some subscribers of the line Angers-Le Mans-Paris went on strike, refusing to submit their subscription in protest against "a sharp deterioration of service for which we pay dearly, with Repeated delays professionally very damaging. " During the winter especially, the SNCF has multiplied because sometimes quacks of strikes, sometimes the weather marked by heavy snowfall. According to internal data SNCF published in late January, all train types in 2010 experienced a deterioration in their regularity.Even if the group retains rail figures are more favorable than the CFDT: they are 90.7% of trains arrived on time in 2010 according to SNCF, against 91.4% in 2009.

Engagement letter

Users do not make a mistake: in January, according to a survey * conducted Ifop for Ouest France, three quarters of those surveyed felt by Ifop train schedules less respected in recent months. Nicolas Sarkozy made the same observation, and direct the Director of the SNCF, Guillaume Pepy, to remedy this. In the new letter of assignment entrusted by the chief executive officer of the State Railway Group, he stressed that the effort on the quality of service "must be a strong value of the company, as well as technical performance or safety. "Especially in addition to angering legitimate users, delays in the station could end up costing him dear: justice is in effect for the first time last September sentenced the railway company to pay damages and interest to a user's penalized by delays. "A decision that opens the door certainly other complaints," said the spokesman, so a user association.

* Directed the 20 and 21 January last with 968.

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So that opens Monday at the Mobile World Congress, high mass annual telecom, Barcelona, major European operators go on the offensive. "The alarm clock rang operators. We now have a clear vision of the challenges faced by our model. We are determined to go on the offensive, "says Stéphane Richard, CEO of France Telecom, Le Figaro.

The "G5", this informal club which meets the five major European operators (Orange, Vodafone, Telefonica, Telecom Italia and Deutsche Telekom), met this morning in Barcelona. First concern is the increasing traffic by 18 on the fixed and mobile networks within four years the network congestion threatens. To avoid saturation, operators have to invest heavily … and fully intend to share the bill with those who are the primary beneficiaries: YouTube, Google and others."For years, compensate operators naturally flows exchanged between them is the system of peering. What they sent about what they were getting compensated. But this system has experienced since the flows are completely unbalanced for two years due to the explosion of video. Some players who are behind the explosion of traffic must be willing to help finance the investments needed to carry this traffic, "insists Stephen Richard.

Another concern is the lack of competition in the shops of applications. "Competition in telecom has always been seen by Brussels in terms of infrastructure and networks. Today, there is another reality: the arrival of new players like Google and Apple, "says Stéphane Richard.And example is the Read & Go application, developed by Orange and various publishers, behind Apple to allow on its online store. "This practice is acceptable?" Interrogates Stéphane Richard. It will meet in Brussels.

Netting on 4G

The five major operators should also announce a better coordination on mobile contactless or NFC, with a launch expected this year. "Contactless will bring out new services and our customers. They can use their mobile as a payment card, such as ticketing, such as badges for access to buildings or as a transportation tag. Orange aims NFC 500,000 customers by the end of the year in France and the integration causes many of these new services without contact from the SIM card. The market is ripe now, "says Stéphane Richard.Orange is also announcing today an agreement with Samsung for the upcoming European launch of a new NFC-enabled mobile.

The CEO of France Telecom is very proactive on the fourth generation of mobile, "it is inevitable that changes to the 4G. Orange is ready to participate in the tender in France. What bothers me is neither the timing nor the principle of a high reserve price (the government wants to recover 2 billion of licenses to be issued in France in the summer, Ed), but problem is to increase the stress on operators when they are asked to invest heavily. Operators will face a fourth operator in a mature market, "he says.

And the beautiful game operator to point the proliferation of taxes, the latest being the recovery of VAT."In crude, we had a lot of termination, but this represents a net lost few customers. Because the vast majority of customers who cancel a subscription at Orange resume here. In any case, those who still thought that there was insufficient competition in the market were able to verify the bitterness of the fight, "says Stéphane Richard.

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