Enter by the back door sometimes reser e o good surprises

Enter by the back door sometimes reser e o good surprises. Become a year ago the irst oreign shareholder in the medium Nanjing City Commercial Bank, with 19 o its capital, BNP Paribas could be signi icantly behind in China by Société Générale i it was achie ed in great Guangdong De elopment Bank. Howe er, not only Citigroup was ousted, in extremis, the Bank o the de ence, but still this should require him to come out o another major regional bank, Shanghai Pudong De elopment Bank. It is precisely with this last that BNP Paribas is an important agreement in the insurance by becoming its single oreign partner in this area. This promising alliance thus places the Bank headed by Baudouin Prot in pole position to become the shareholder oreign Shanghai Pudong instead Citigroup re erence when the Chinese authorities consider it appropriate. This mo ement would be more interesting that Nanjing is located 300 km west o Shanghai, in the extension o its economic de elopment zone, and Shanghai Pudong is one o the last a ailable banks or partnerships with oreigners.

The last parachute

The contradictory o the stock market redundancies should re iew their bias. In announcing 3.600 deletions o jobs by 2008, TUI, the number one European tourism, has sent its course o stock a little lower on the slope where it slips or eighteen months. I beyond this measure, stimulus plan presented by the German group has cooled in estors, is because it starts with re isions in sharp decline in pro its rom the di isions objecti es, shipping and tourism, on the horizon yet distant 2008. While some were waiting or an assignment o maritime transport, TUI also surprised by multiplying initiati es in the air, hotels, cruises, accentuating the dispersion o ten complained. Assignments planned port or real assets inally pointed out the tense inancial situation o TUI has debts to 3.8 billion capitalization EUR 3.5 billion. Basket o the DAX 30, late o 65 on the German stock index these past two years, had already become an anomaly. With a price/earnings ratio by stratospheric action, re lection o its anemic per ormance. And just as high yield, the act that TUI had tried to retain its shareholders di idends suddenly. Their remo al in 2006 introduced torch last parachute o the title.

rom time to time

You need to know to do against bad ortune, good heart. Group Media NBC Uni ersal is not in the best shape, i endi had no interest to exercise the put option allowing to assign his participation o 20 in January. This urther that, contrary to what was the case a ew years, the group led by Jean-Bernard Lé y has no pressing liquidity need. It is e en in a lourishing inancial situation warranting that it research in estment more that it run a ter the di estitures. And the acquisition in the BMG Music Publishing was not likely to in ol e the assignment, at the wrong time, remaining dreams o glory Jean-Marie Messier Americans. By extending its option to sell while also extending the option to purchase o General Electric until 2017 until 2016, i endi is also a lexibility which allows to look at the uture with serenity. I NBC knows the upping o the acti ities o tele ision and cinema, as did Disney, it is clear that GE might buy i endi participation as early as 2009. Which lea es two years to the rench group to con ince oda one cede its stake in S R or undertaking a large de elopment on Canal .