LONDON (AFX) - Here are the top stories on AFX News Novartis cuts sales growth target, mulls profit impact on drug suspension
BASEL (AFX) - Novartis AG has revised its target for 2007 net sales growth for the group to 'above 5 pct' from its previous guidance for a mid- to high-one-digit percentage growth, after suspending marketing and sales of irritable bowel syndrome drug Zelnorm due to safety concerns in the US.
Novartis said it is still evaluating the impact of the withdrawal on the full-year 2007 operating and net income from continuing operations. TPG Capital studies Iberia bid at 3.60 eur/shr
MADRID (AFX) - Iberia Lineas Aereas de Espana SA said it has received a request for information from US capital risk group Texas Pacific Group ahead of a possible full takeover bid for 3.60 eur per share.
In a statement, Iberia said that TPG Capital LLP has said it will analyse the information over the next 20-30 working days, and possibly launch a bid within 10 working days after that. French Q4 GDP revised to 0.7 pct rise from 0.6 pct previous estimate
PARIS (AFX) - French fourth quarter GDP was revised to show a 0.7 pct rise from the third quarter, compared with the previous estimate of a 0.6 pct increase, the statistics office Insee said.
This put GDP growth in 2006 as a whole at 2.1 pct, Insee said. NYSE merger offer for Euronext to be reopened from April 2-17
PARIS (AFX) - NYSE Group Inc's merger offer for Euronext NV is to be reopened from April 2 to 17 with the same terms, the French financial markets regulator AMF announced today.
The final results of the initial 10 bln usd merger offer were confirmed today with NYSE holding 91.42 pct of capital and 92.22 pct of voting rights in Euronext. ERG to invest 2.567 bln eur in 2007-1010, most earmarked for power output
MILAN (AFX) - ERG SpA, the Italian oil refiner and energy group, said it will invest 2.567 bln eur in 2007-2010, of which 65 pct is destined to boost its electricity production and gas operations as it diversifies to become a 'multi-energy' group.
The company said it earmarked 1.186 bln eur to develop electricity from renewable sources and aims to increase its market share in the domestic wind power sector to over 20 pct in 2010 from 5 pct in 2005. ABN Amro could still see counter-bid from RBS, Santander - analyst
AMSTERDAM (AFX) - ABN Amro Holdings NV could at the last moment be faced with a joint bid from two other banks, to outbid a Barclays offer, analysts at Keefe, Bruyette & Woods (KBW) said in a note to clients.
Although the analysts concede that the market seems to have settled on Barclays putting out a bid for ABN Amro, they do expect a counter-offer from Royal Bank of Scotland (RBS) and Banco Santander Central Hispano at the last moment, 'likely shortly before' ABN Amro's AGM of April 26. Telenor rules out selling stake to Altimo, says relations 'untenable'
OSLO (AFX) - Telenor ASA has ruled out the possibility of Russian investment group Altimo taking a stake in it, adding that relations between the two companies - which have mobile ventures in Ukraine and and Russia - are now 'untenable'.
Merging its assets in the two countries is also currently 'out of the question', a Telenor spokesman added. BMPS aims at closing talks to buy Unipol's Hopa stake by end next week-report
MILAN (AFX) - Banca Monte dei Paschi di Siena SpA aims at closing by the end of next week negotiations to buy the 7 pct stake that Unipol SpA owns in holding company Hopa, daily Il Sole 24 Ore reported citing rumours.
Hopa is an investment vehicle that among other company owns some 3.7 pct of Telecom Italia SpA. Boehler hikes 2007 outlook; sees sales, earnings at least as high as in 2006
VIENNA (AFX) - Austrian special steel company Boehler-Uddeholm AG has hiked its outlook for 2007, saying if the positive trend of the first two months of 2007 continues, then this year's sales and earnings should at least as high as in the record year 2006.
Prospects for 2008 are also good, it added. Yukos' Siberia assets to be sold at auction for 4.8 bln eur
MOSCOW (AFX) - The assets of Yukos in eastern Siberia will be sold at auction for a starting price of 166 bln roubles (4.8 bln eur), according to the judicial liquidator of the group, Edward Rebgun.
Another lot of Yukos assets in the Krasnodar region will also be auctioned, for a starting price of 5 bln roubles. BNP Paribas, GE unit among final 3 bidders for UniCredito BPH ops - report
FRANKFURT (AFX) - BNP Paribas, Credit Mutuel and General Electric Co's GE Money Bank are the final three bidders for the 200 branches of Unicredito's Polish BPH bank currently up for sale, the Financial Times Deutschland reported without naming its sources.
The newspaper also said Unicredito will name the winning bidder next month, and that it expects to receive about 1.5 bln eur for the operations. COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited