The transaction is valued at 1.3 billion euros including debt Orange Austria amounting to around 1.1 billion euros.

France Telecom, owner of 35% of the operator, said it expects to receive "about 70 million" for the sale of its interest. The balance of the proceeds from the sale back to the investment fund Mid Europa Partners, owner of 65% stake in Orange Austria.

The owner of Hutchison Whampoa, the Hong Kong billionaire Li Ka-shing, to expand its presence in Europe. It is already present on the Austrian market through the brand "3".

After the acquisition of Orange Austria, Hutchison claims the number three spot in the Austrian mobile phone with 2.8 million subscribers and 22% market share.

The combined turnover of the two sociétésa exceeded 700 million euros in 2011 (nearly 500 million for Orange Austria).

In a second step, Hutchison will divest certain assets of Orange Austria (including the mobile operator Yesss!) To Telekom Austria for EUR 390 million, announced it.

The agreement, subject to approval of regulatory authorities telecom and competition, should be effective in mid-2012. 

THE ASIAN ASSETS IN EUROPE

Asian societies, with substantial funding, have increased the asset purchases in Europe in recent times while the euro area is mired in debt crisis.

Chinese Shandong Heavy Industry has acquired last month 75% of Italian yacht maker Ferretti Group. And the Chinese sovereign wealth fund China Investment Corp has acquired 8.7% of the holding company of British Thames Water.

The group of Li Ka-shing, looking for infrastructure investments in Europe, has already acquired the UK Northumbrian Water for 2.41 billion pounds last year. He also acquired $ 5.8 billion book distribution network of UK electricity from French EDF in 2010.

Li, nicknamed "Superman" by Hong Kong media for his business acumen, began his career in artificial flowers. It employs 26,000 people in 55 countries.

Hutchison also has activities in the 3G mobile in the UK, Italy and Australia. In the UK, it is in competition with, the number one mobile phone, Everything Everywhere, a subsidiary of Orange and T-Mobile.

FRANCE TELECOM CONTINUES REVIEW OF ASSETS

For France Telecom, Orange Austria exit is the second operation in the curly part of its review of assets, which aims to disengage the group of mature markets low growth while giving rise to additional returns to shareholders.

The operator has already defeated its subsidiary Orange Switzerland, sold at the end of December to fund Apax Partners for 1.6 billion euros.

In a statement, the group was pleased to have reached a new milestone in its "strategy to optimize the asset portfolio." 

Analysts at Raymond James estimate that the incumbent is likely to announce a program of share repurchases by an amount of up to 800 million euros, half of the proceeds of both sales .

"This would not enough to pay half of the minority interests of Mobistar while the other half could be addressed by potential tax synergies", added the analysts in reference reference to the Belgian operator France Telecom which is the majority shareholder.

At 12:30, the action of the French group was down 0.22% to 11.4750 euros while the CAC 40 rose 0.41%.

The title of Hutchison has in turn made up 3.8% to 76.20 Hong Kong dollars to the announcement of the transaction in a generally stable market.

The second part of the plan will be announced in May or June and will aim to increase employee productivity and quality of service, the newspaper said.

The Air France-KLM announced a savings plan for the first quarter 2012, when publishing its quarterly results in early November.

The group had announced on this occasion it would have lost the whole of 2011.

Orbeo, based in Paris, was founded in 2006 at par by the bank and the French chemist, in the context of the creation of carbon markets in 2005 and the implementation of the Kyoto Protocol in Europe.

The Solvay has already acquired half of this year by acquiring Rhodia Orbeo.When it has, by January 1, acquired the participation of SocGen, it will therefore control the whole.

"Rhodia Energy wishes to strengthen its commitment to the fight against climate change by making full use of industrial know-how of Rhodia and Solvay and expanding its offering in the integrated management of energy and CO2 emissions," said Solvay in a statement.

The terms of the agreement were not disclosed

An analyst with SocGen said the agreement had no connection with the collapse in prices of units of certified emission reductions, which reached Friday morning a new record low of 4.40 euros.

The sustainable palm oil seems increasingly preferred to curb deforestation, according to the World Wide Fund for Nature (WWF). But the efforts of the major European manufacturers and retail chains involved are still too slow, said Tuesday the NGO. In a study of 132 European companies, WWF estimates that nearly a distributor of two and a manufacturer in five does not meet the charter of the Roundtable for Sustainable Palm Oil (RSPO), an association created in 2004 bringing together producers, industry and NGOs worldwide.Indonesia and Malaysia produce between them about 80% of world production of palm oil product with multiple uses (cosmetics, food, bio-fuels).

The President of the New Centre, Hervé Morin, future presidential candidate, said Sunday during his campaign that he would defend the idea of ​​an increase in working hours, with a 37-hour week, that France found its prosperity. "We constantly talk about the restoration of public accounts and the return to a balanced budget.

Europe

– Provide Europe with a single presidency created by the merger of the European Council President and the President of the European Commission

– Making of the European Commission the true government of the Union

– Provide the euro area economic governance: generalization of qualified majority voting, can create Eurobonds to communitarise part of European debt, creation of a Monetary Fund and a European rating agency.

– Establishment of a European reindustrialisation.

Greek Prime Minister George Papandreou on Monday decided to submit the European Agreement on the rescue plan of the euro zone to the approval of its citizens. This plan, adopted in pain by 17 members of the euro area on October 26, provides for the deletion of a portion of the debt of Athens, in exchange for austerity and still more vigorous supervision of a strengthened donor country (EU, ECB and IMF), the famous "troika".A meeting between Nicolas Sarkozy, Angela Merkel, the EU and the IMF is also scheduled for tomorrow Wednesday in Cannes, which is scheduled for the G20 summit.

Papandreou's why he called the referendum?

The Greeks "do they want the adoption of the new agreement or reject it? If the Greeks do not want it, it will not be adopted," said the Prime Minister on Monday night before the parliamentary group of the Socialist Party (PASOK ). "The will of the Greek people be binding on us," he added. What is certain is that the announcement of the referendum is a real surprise. Members of the majority, including Finance Minister Evangelos Venizelos, were not aware. Two Greek Socialist MPs already challenged the decision of George Papandreou, the one announcing his defection, the other calling for a cabinet "national salvation".A poll published last weekend showed that a majority of Greeks believe the decisions of the European Summit negative, only 12.6% considering them positive.

What will happen if the majority rejects?

This is the future of Greece in the euro area is at stake the Cypriot economy Christopher Pissarides, Nobel laureate, is not optimistic. "If no victory, Greece would fail immediately. I do not see it stay in the euro," he predicted. "The risk is that the international community shuts off the money and the country ends up leaving the euro," said Christoph Weil, an analyst at Commerzbank. The negative consequences of this event for Greece would be immense. Of course, out of the eurozone would allow Greece to devalue its currency and become competitive.

The Nikkei lost 0.4%, or 34.78 points to 8738.90 points and the Topix, larger yielded 1.56 point (0.21%) to 753.44 points.

Certain values, including Honda Motor (-2.22%), suffered greater losses, affected by the damage to their plants by flooding in Thailand.

Although investors have bought futures contracts, as well as neglected sectors recently, investors are not convinced that European leaders will address the concerns about the financial system through the measures promised by the end of the month.

"The question of how Europe will recapitalize banks remains," said Tetsuro Ii, CEO of Commons Asset Management.

The results below expectations Alcoa, attributed to slower growth, weighed on the trend.

"Those who wanted to be reassured by the U.S. results are for expenses," said Kenichi Hirano, a director at Tachibana Securities.

The CSF was commissioned by the G20 coordinate a global response to the financial crisis.The idea of ​​this overhead capital was advanced last July by the FSB.

Mario Draghi, who chairs the CSF, confirmed that "Sifi" (systemically important Financial Institutions) will be subject to the requirement to raise their capital from 1 to 2.5% from 2016, showering the hopes of some actors who would have preferred this solution to be buried.

The name of his successor will be announced at the G20 summit held on 3 and 4 November in Cannes, also announced the secretary of the CSF Svein Andresen.

Mario Draghi will replace the current president in October the European Central Bank (ECB) Jean-Claude Trichet.

The Canadian Finance Minister Jim Flaherty said his government was defending the candidacy of Governor of the Bank of Canada, Mark Carney.

RISK CONTROL GROWTH

If the reform was implemented today, the overhead would be required to 28 banks including, most likely, HSBC, JPMorgan Chase, Goldman Sachs and Barclays or BNP in France.

The banks say that this, combined in January 2013 the Basel rules on capital III, penalize growth.

The CEO of JPMorgan, Jamie Dimon, found the idea "anti-American."

Faced with these criticisms, the impact study conducted by the FSB argued that the desirability to reduce the danger of a systemic crisis far exceeds the cost in terms of GDP growth.

In the opinion of Mario Draghi, it is clear that banks have a funding problem, it is still unclear whether it comes from a liquidity shortage or lack of confidence in the banking system.

"Risk aversion has increased dramatically in recent months and as it increases, the interbank market is one of the primary sources of funding to dry up," said the next president of the ECB.

Strengthen standards of liquidity and capital should reduce risk aversion, he added.

The report of the "troika" (European Union, European Central Bank, International Monetary Fund) should be completed in two to three weeks.

It will determine whether the release of the sixth tranche of eight billion euros is possible under the current aid package, without which the country will fail next month.

If the report is lowering growth forecasts, while revenue projections will be.

As a result, the financing needs of Greece will be greater than expected on July 21 when the leaders of the euro area had agreed to a new rescue plan 109 billion euros and a program debt exchange where the private sector contribution is made by accepting a loss of 21%.

"The general may have changed since the last overhaul and the forecast on growth also Greek," said an official of the euro area.

If Greece was facing greater financial needs, the States of the euro area would probably not bear alone the extra cost.They could ask the private sector to contribute that would be greater than the expected 21% discount.

"This is a discussion that takes place," said another official of the euro area.

Greek Finance Minister Evangelos Venizelos said in Parliament last Friday that he saw only three scenarios to resolve the crisis of sovereign debt. One of them involves a defect ordered at a discount of 50% of the debt obligations held by investors.

"The question is whether the current approach leads to a yes or no viable solution.So far, there is no definitive opinion on it (…) it is the Commission, the IMF and the ECB to decide whether possible or impossible, "the official added the euro area.

GROWTH WEAKER THAN EXPECTED

The representatives of the troika have planned in June that the Greek economy would contract by 3.8% in 2011, but growth would then resume at a rate of 0.6% in 2012 and 2.1% in 2013.

However, Evangelos Venizelos said on September 15 in Parliament that Greece is still in recession in 2012.

"If the troika think that Greece will not experience growth through 2013 and 2014, the assumptions of the second rescue plan will be changed," said a third source.

"The additional funds can either be borne by governments, which would be very difficult politically, and then shared with the private sector," they added.

The report of the troika should probably coincide with the completion of the ratification process of the parliaments of member countries of the eurozone about expanding the powers of the European Financial Stability (EFSF).

The Austrian parliament on Friday approved the extension of the European Financial Stability Fund (EFSF) a large majority.

Slovakia, which is expected to approve the strengthening of EFSF by 14 October, along with Malta and the Netherlands, one of three countries in the euro area does not yet have approved the reform agreed at EFSF EU summit on 21 July.

Under the reform EFSF decided at the EU summit on 21 July, the fund will have new powers "preventive" allowing him to purchase obligations of Member States of the euro area, to issue a precautionary credit lines and to lend to states in the region to recapitalize their banks.

"A deeper discount could be considered by the rating agencies as a default or selective default," said another respondent.

Two years and three months after his death, Michael Jackson continues to be talked about. The trial of the doctor opens Tuesday in Los Angeles. Conrad Murray is accused of manslaughter for having administered a powerful anesthetic June 25, 2009. But the trial is also an opportunity to shed light on the business post-mortem of Michael Jackson.

A hoard of 400 million

According to a report filed with the court a few days ago by the two executors of Michael Jackson, John Branca and John McLain, the gains of the singer since his death amounted to $ 310 million.And again, this sum is it terminated in December 2010. "Since then, commercial sales have continued to report additional income," specify the executor without giving the amount. According to Forbes, his total income would be close in fact $ 400 million, after the commercial success of his posthumous album "Michael" (3 million records) and sales of the DVD "This is it."

The singer's productions are not the only source of income. The catalog of songs owned by the company and Sony Jackson, valued at $ 1.5 billion, would yield each year between 50 and 100 million to two companies.It includes a half-million songs including 250 Beatles songs, titles of Bob Dylan, and Elvis Presley.

A fortune used to offset debts

The financial windfall of the singer in particular was used to pay the huge debts accumulated by Michael Jackson. And there were many. The Wall Street Journal has even mentioned the $ 500 million in the aftermath of his death, but this was not confirmed. He owed money to "tens of debtors," said the report simply the executors. Of the total 310 million won, "159 million was spent to pay the debts, maintenance of children and to cover funeral costs," Forbes understands.Canadian newspaper The Winnipeg Free Press said that some of the debt has been mopped but some creditors are still demanding their money.

Jackson claims his family heritage

Part of the remaining amount will soon return to the family of the singer. According to the document, John Branca and John McClain, the heirs have requested the release of $ 30 million. This amount will be divided between the mother of Michael Jackson, Katherine, and three children of the singer, Paris, Prince and Michael Joseph Junior, custody of their grandmother since the death of the artist. Another part will be allocated to charities, but the text does not mention who they are or how much will be allocated. In addition, the document states that $ 30 million will be only the beginning, other unlocks should come later.

The text adds that Katherine Jackson would sell the family home in Encino Hayvenhurst. It has not yet been estimated but it was worth $ 4.15 million in 2010. The family should take a much higher price, after making many renovations inside. The judge in the case must approve such requests on Wednesday.

Jackson brand: a bottomless pit?

The revenues of the star continue to benefit from the huge wave of nostalgia that has gripped the world after his death June 25, 2009. U.S. magazine Billboard have estimated the first anniversary of his death that the singer had reported $ 1 billion of revenue to the various cultural actors in the sale of CDs, movies, ringtones by phone, or even video games …

The effects on sales, however, should stabilize in the coming years, says Forbes.But nothing to worry about the Jackson family. According to the calculations of the magazine, the singer's earnings could be between 75 and 100 million dollars a year. Enough to leave Paris, and Prince Michael Joseph Junior freedom from want for a few years …