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Image header Agence Europe
Europe Daily Bulletin No. 7697
Contents Publication in full By article 26 / 48
ECONOMIC INTERPENETRATION / (eu) business

In its Tuesday 11 March edition, the French daily Le Monde published a survey on the performance of French groups in 1999, together with a list of the twenty-five largest French groups, classified according to their turnover. The results show a transformation qualified as unprecedented in relation to the previous year. The survey indicates, notably that: i) four firms achieved turnovers of well over or close to FF 250 bn, whereas no group attained that in 1998. These are THOMSONELF (pro-forma amount), CARREFOUR (pro-forma amount), VIVENDI and PSA; ii) fourteen of them crossed the 100 bn mark, whereas they were only ten in 1998; iii) mergers-takeovers were the main instruments behind this change. This type of operation leapt by 123% in a year, reaching FF 1,870 bn; iv) groups sought rather to increase in size rather than increase their profits. (For the table, please refer to the paper version). It emerges from this classification that: i) the merger between TOTALFINA and ELF shot the group to the top of the classification. This group is now the world's fourth largest in the oil sector; ii) CARREFOUR comes in second place thanks to its takeover of PROMEDES; iii) VIVENDI is now ahead of RENAULT and PEUGEOT thanks to a good performance in the environment and telecommunications sectors, as well as its takeover of the American US FILTER, France's largest takeover operation in the United States.

Contents

THE DAY IN POLITICS
GENERAL NEWS
ECONOMIC INTERPENETRATION
SUPPLEMENT