French water groups deny seeking tie-up

According to the Le Monde newspaper, talks between the two firms over a possible tie-up were broken off about 10 days ago, with “the two groups judging the operation too risky.”

“Suez Environnement denies rumors it is working on a tie-up with Veolia,” Suez said in a statement.

“In response to market rumors, a tie-up with Suez Environnment is not on the agenda,” Veolia said in its own statement.

A source close to the matter told AFP on Friday that discussions had occurred, but said a tie-up would require one of the groups to sell its French operations to respect competition rules.

Le Monde said Suez head Jean-Louis Chaussade in August contacted Antoine Frerot, the Veolia chief, to propose a “a friendly tie-up,” and several working meetings took place in September, with investment banking representatives taking part.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	Saving Indonesia's amazing ulin trees

NEXT ARTICLE
Economic crisis casts shadow over United Nations biodiversity talks

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit