European Press Roundup: Vonovia Faces Expropriation Debate, Sacyr Denies Contract-Rigging
April 15 2019 - 8:23AM
Dow Jones News
In Europe today, trade tensions continue despite news that a
U.S.-China trade truce could be close, while in the top business
story, Publicis shares rose on the advertising giant's solid
first-quarter figures and news that it will buy Epsilon for $4.4
billion. Read about the above topics on Dow Jones Newswires or
WSJ.com.
In Other Media...
Vonovia is facing questions from shareholders regarding the
debate on expropriation currently simmering in Germany. Talk of
potentially expropriating residential real-estate companies comes
amid rising rents in German cities, particularly Berlin. "My
feeling is we're conducting a debate about an idea that we know
cannot work," says Vonovia CFO Helene von Roeder.
-Boersen-Zeitung
Spanish contractor Sacyr hits back at the country's competition
watchdog for issuing a EUR762,000 fine to its Neopul subsidiary.
The regulator imposed the fine on Neopul for operating in a cartel
with 14 other companies to rig rail-infrastructure contracts. Sacyr
denies any involvement and accuses the regulator of having unjustly
damaged the company's reputation. -Expansion
Property investment company Green REIT said Monday that it
appointed JP Morgan Cazenove to initiate a process for the sale of
the company or its portfolio of assets. The move comes as the
company's chairman says its share price has been "subject to a
material and persistent structural discount to its net asset value
per share for over three years now." -The Irish Times
Rossmann, Germany's second-largest drugstore chain, is ending
its partnership with Amazon after two years, citing a lack of
customer demand for the "ultra-fast delivery services" Amazon
provides. Rossmann says its customers prefer going to store in
person and are against paying a surcharge to have products
delivered to their office. -SZ
Fiat Chrysler should close the sale of its auto parts unit
Magneti Marelli to Calsonic Kansei by the first days of May. A
shareholder meeting will be called after the announcement of the
closing to approve the payment of an extraordinary dividend. -Il
Sole 24 Ore
French utilities company EDF will discuss renationalizing, at
least partially, the state-controlled company's nuclear activities
during a board meeting on May 28. -Le Parisien
The Malacalza family wants to maintain an interest in troubled
Italian lender Banca Carige, even with a reduced stake. -La
Repubblica
The U.K. government's Department for International Development
has been asked for technical assistance from China, which wants to
change the way it lends to poor countries. Beijing has signed a
memorandum of understanding with eight development banks to
establish a center for technical expertise and has invited the U.K.
to join. -The Times
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(END) Dow Jones Newswires
April 15, 2019 08:08 ET (12:08 GMT)
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