To its opponents, the bill asks potential buyers to stay out. The provision forcing a search for a buyer of sites before their closure could be interpreted as telling foreign investors not to invest in France, Jean-Claude Rivalland, a partner at Allen & Overy LLP in Paris, said in an interview. In terms of perception, this could be a disaster. Further Complexity Even without the law, the state has not been shy about blocking deals. One such example this year was the failed attempt by Yahoo! Inc. 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.
France Moves Deficit Target for 2017 Again — Finance Ministry
On Tuesday he told his French counterpart Francois Hollande that reconciliation was his priority, after talks with the rebel National Movement for the Liberation of Azawad (MNLA) collapsed. “The Franco-African intervention put an end to the terrorist threat, but it could try to rebuild… we must remain vigilant,” the two leaders said in a joint statement released by Hollande’s office after the talks. The meeting between the two leaders came against a backdrop of deteriorating security in Mali, where a car bomb attack claimed by Al-Qaeda in the Islamic Maghreb (AQIM) killed two civilians and wounded several soldiers on Saturday, according to the army. Calm returned Tuesday to the rebel bastion of Kidal after fighting between the MNLA and the army, but tensions remained high, a military source from the UN’s MINUSMA peacekeeping force in Mali told AFP. The MNLA, the main Tuareg group involved in peace talks between rebels and the government which broke down on Thursday, said three of its fighters had been wounded during a gun battle Sunday which lasted more than an hour. The clashes in Kidal came after Tuareg rebels pulled out of the talks, dealing a blow to hopes of a durable peace in the troubled west African nation. The MNLA took control of Kidal in February after a French-led military operation ousted Al-Qaeda-linked fighters who had piggybacked on a Tuareg rebellion to seize most of northern Mali. The Malian authorities reclaimed the city after signing a ceasefire deal with the MNLA but the situation has remained tense. While the MNLA remains a largely secular cause, Mali has suffered a series of attacks claimed by Islamist insurgents since France launched a military operation in January against Al-Qaeda-linked groups occupying the north of the country. Four suicide bombers blew up their car at a military barracks in the desert city of Timbuktu on Saturday, killing two civilians in an attack claimed by AQIM. A spokesman for the north African group raised “two of our brave suicide bombers”, whom he said had detonated “more than a ton of explosives”, according to the Mauritanian Alakhbar news agency. The spokesman said the explosion killed 16 soldiers and wounded many more, contradicting the army’s statement that four suicide bombers were in the car when it exploded and two passers-by were the only people killed. Dozens of disgruntled soldiers involved in Mali’s 2012 coup fired guns in the air at a protest on Monday, wounding and taking hostage a close aide of mutiny leader Amadou Sanogo, military sources said.
France, Mali urge vigilance against ‘terror’ threat
Seperate multiple addresses with Commas. Must enter an email address. You must enter the verification code below to send. Invalid entry: Please type the verification code again. October 1, 2013, 9:59 a.m. ET France Moves Deficit Target for 2017 Again — Finance Ministry Text By William Horobin PARIS–France will trim its deficit to 1.2% of economic output by 2017, falling short of President Francois Hollande’s election pledge to balance the public finances by the end of a five-year term in office, according to a document published by the finance ministry. Since coming to power in May 2012, Mr. Hollande’s plans to reduce the deficit and start bringing down the country’s debt have been repeatedly derailed by the poor performance of the economy as the euro zone lingered in recession. His original plan to balance public finances in 2017 had already slipped this year to target a deficit at 0.7% of economic output. The finance ministry document, available on the finance ministry website Tuesday, will be assessed by the European Commission and provides financial and economic forecasts beyond the scope of the 2014 budget presented last week. The macroeconomic forecasts that ground the plans to reduce the deficit from around 4.1% of gross domestic product suppose an acceleration in economic growth from only 0.1% this year to 0.9% next year, 1.7% in 2015 and 2% a year thereafter. The stronger growth from 2015 to 2017 will shave about 0.2 percentage points a year off the deficit.