LONDON (Thomson Financial) - Here are the top stories on Thomson Financial News Scor must delay Converium takeover offer until May 7 - Swiss Takeover Board
ZURICH (Thomson Financial) - French reinsurer Scor will have to postpone the launch of its takeover offer for Swiss rival Converium from Monday until May 7, the Swiss Takeover Board said.
The board said this follows the complaint Converium launched against Scor on Tuesday for excluding US shareholders, who make up 22 pct of Converium shareholders. Russia's Renova acquires 32 pct of Sulzer
ZURICH (Thomson Financial) - Russian billionaire Victor Vekselberg's holding company Renova said it has acquired 32 pct of Sulzer for an undisclosed sum.
Renova said it has acquired 18 pct of the capital as shares and 14 pct in the form of 'physical delivery options'. SocGen says no merger talks under way after Unicredito rumours
PARIS (Thomson Financial) - Societe Generale said it is not involved in any talks over a possible strategic merger.
In a statement, the banking group said it had taken note of recent market speculation over the possibility of a strategic merger and that its policy was not to comment on market rumours. Sony Ericsson Q1 pretax jumps but touch below expectations as ASP falls
STOCKHOLM (Thomson Financial) - Sony Ericsson Mobile Communications AB said first quarter pretax profits rose by 139 pct to 362 mln eur, as sales rose 47 pct to 2.925 bln eur, boosted by strong handset shipments and improving operating margins.
But despite sharp increases, both numbers fell slightly short of market forecasts, which centred on a pretax profit of 368 mln eur and sales of 3.084 bln eur, according to a survey by SME Direkt. SAP Q1 opg rises 6 pct on strong sales in Americas, misses expectations
WALLDORF, Germany (Thomson Financial) - SAP AG said first quarter operating profit rose 6 pct to 433 mln eur from 409 mln thanks to strong sales in the Americas and European regions.
The figure was below the 442 mln eur consensus of analysts forecasts. Telefonica to study purchase of Telecom Italia stake over the weekend - report
MILAN (Thomson Financial) - Telefonica SA will study over the weekend the possibility of buying a controlling stake in Telecom Italia SpA, the daily Il Sole 24 Ore said without giving a source.
The daily said that Telefonica could seek to buy from Pirelli & C SpA a 66 pct stake in the holding company Olimpia SpA, which owns 18 pct of Telecom Italia. Swiss Re, Friends Provident to announce longevity risk venture - report
LONDON (Thomson Financial) - Swiss Re is today expected to announce a deal with Friends Provident to manage longevity risk for 1.7 bln stg of annuities, the Wall Street Journal reported.
The foray into this segment of the market, in which insurers sell annuities guaranteeing customers a steady retirement income in exchange for premium payments, will be the Swiss reinsurer's first. Sacyr CEO rejects cash offer for Eiffage, says share bid 'best for everyone'
PARIS (Thomson Financial) - Sacyr Vallehermoso SA chief executive Luis del Rivero rejected the idea of a cash offer for Eiffage, stating that the Spanish group's all-share bid is 'the best offer for everyone'.
Rivero was speaking in an interview with French business radio BFM. Auto: Euroshares
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