Forex Investment

LONDON (AFX) - Here are the top stories on AFX News

EU warns Microsoft of further penalties over unreasonable pricing

BRUSSELS (AFX) - The European Commission warned Microsoft Corp that the computer software giant could face further penalties over unreasonable pricing.

The commission said it has sent a statement of objections to Microsoft for failing to comply with some of the obligations under its antitrust ruling in March 2004.

Deutsche Telekom Q4 adj EBITDA drops 12.5 pct as weak domestic ops weigh

FRANKFURT (AFX) - Deutsche Telekom AG’s adjusted fourth-quarter EBITDA fell 12.5 pct as the German telecoms giant continued to struggle with weak business in its home market.

EBITDA adjusted for special factors in the three months to Dec 31 was 4.548 bln eur, down from 5.199 bln in the same period a year earlier, the Bonn-based company said. This fell short of the 4.650 bln consensus forecast of analysts polled by AFX News.

Swiss Re FY net beats forecasts; launches 6 bln sfr buyback, hikes div

ZURICH (AFX) - Swiss Re reported a forecast-beating full year net profit of 4.560 bln sfr, up from 2.304 bln a year earlier, citing a disciplined underwriting approach in its property & casualty business lines, consistent returns from the life & health segment and a rising contribution from its financial services.

Analysts polled by AFX News forecast net profit to reach 3.268-3.882 bln sfr or 3.641 bln on average.

InBev FY net rockets on higher sales driven by Lat America volumes

BRUSSELS (AFX) - InBev SA said its net profit has rocketed year-on-year, in-line with expectations, on higher sales and driven by volume growth in Latin America, with the brewer eclipsing its long-term operating margin target.

Full year net for the Leuven-based group soared to 1.41 bln eur from 904.0 mln last year and in line with 1.35-1.49 bln forecasts. For the fourth quarter, net jumped to 371.0 mln eur from 165.0 mln.

Telefonica FY net up 40.2 pct at 6.233 bln eur vs 4.446 bln; in line

MADRID (AFX) - Telefonica SA said net profit grew 40.2 pct to 6.233 bln eur in the full year to December from 4.446 bln a year earlier, in line with analysts’ forecasts for 4.113-6.898 bln, on revenues of 52.901 bln, up from 37.383 bln.

In a statement, the telecos giant said operating income before depreciation and amortisation (OIBDA) rose to 19.126 bln eur from 15.056 bln, also in line with forecasts for 13.913-20.876 bln.

Aker Q4 EBITDA flat as asset value jumps to 36 bln nkr vs 19 bln

OSLO (AFX) - Aker ASA posted fourth quarter EBITDA of 1.06 bln nkr, broadly level with last year’s 1.04 bln, as the value of the holding company’s listed assets surged to 36 bln nkr from 19 bln a year earlier.

Aker holds substantial stakes in a number of companies, including Aker Kvaerner ASA, Aker Yards ASA, Aker American Shipping ASA and Aker Seafoods ASA.

Merck sees 2008/09 EBIT margin unchanged vs 2007/8

FRANKFURT (AFX) - Merck KGaA said it expects its 2008/09 EBIT margin for its five divisions -

Ethicals, Serono, Consumer Health Care, Liquid Crystals and Performance Life Science - to be unchanged from its expectations for 2007/08.

Allianz plans to enter Japanese life insurance market in 2008

FRANKFURT (AFX) - Allianz SE is planning to enter the Japanese life insurance market next year, a company spokeswoman said, confirming Japanese media reports.

“We are currently launching a 100 pct Allianz unit (in Japan),” she said, adding that business operations are to begin there in 2008.

Italy 2006 unadjusted GDP up 1.9 pct yr-on-yr; public deficit 4.4 pct of GDP

ROME (AFX) - Italy’s GDP, unadjusted to the number of working days, rose 1.9 pct year-on-year in 2006 compared with a 0.1 pct rise in 2005, according to the statistics office ISTAT.

ISTAT added that the public deficit totalled 4.4 pct of GDP compared with 4.1 pct a year earlier.

Swedish Q4 GDP growth 4.7 pct year-on-year

COPENHAGEN (AFX) - Sweden’s calendar-adjusted GDP rose by 4.7 pct during the fourth quarter 2006 compared to a year earlier, Statistics Sweden reported.

Compared to the third quarter 2006, the seasonally adjusted GDP grew by 1.2 pct.

Randstad, Mittal to join AEX index from tomorrow, Getronics relegated to midcap

AMSTERDAM (AFX) - Randstad Holding NV and Mittal Steel Co NV/Arcelor Mittal will join the benchmark AEX index from tomorrow, Euronext said.

Getronics NV will drop from the AEX to the midcap AMX index, with BinckBank NV, SNS Reaal Groep NV and Tele Atlas NV also joining the AMX.

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

For more information and to contact AFX: www.afxnews.com and www.afxpress.com

LONDON (AFX) - Here are the top stories on AFX News

Enel says it, Acciona in advanced talks on Endesa bid; no deal yet

MILAN (AFX) - Enel SpA said it and Acciona SA are in advanced talks to make a joint offer for Endesa SA if the bid by E.ON AG for the Spanish energy group fails.

The company said that talks with Acciona are progressing “positively” but no agreement has been reached. Enel added that the operation would only unfold if E.On AG does not obtain 50 pct of Endesa’s capital in public bid currently underway.

Axa to pay 1.15 bln eur for stake in BMPS bancassurance, pensions activities

PARIS (AFX) - Axa said it has agreed a partnership with Banca Monte dei Paschi di Siena SpA (BMPS) covering bancassurance and pensions activities in Italy, and will pay 1.15 bln eur to acquire 50 pct of certain BMPS assets as well as management rights over the insurance and pension assets.

Axa said it will acquire 50 pct of MPS Vita (life insurance), MPS Danni (non-life insurance) and the BMPS pension funds business.

TNK-BP to bid for 9.44 pct of Rosneft

MOSCOW (AFX) - TNK-BP will bid for a 9.44 pct stake in Russian state oil company Rosneft, which is up for sale as part of the auction next Tuesday of assets in bankrupt Yukos, a company spokesman said.

“We are interested in the assets and we expect to participate in the auction,” spokesman Peter Henshaw told Agence France-Presse.

EU stops clock again on probe into Sony/BMG music merger

BRUSSELS (AFX) - The European Commission said it has stopped the clock again on its probe into the merger of Sony Corp and Bertelsmann AG’s recorded music divisions pending further information on the deal from the companies.

“Please note that the commission yesterday sent an Article 11 decision to the parties involved in the Sony/BMG merger for failure to provide requested information,” it said in a press statement.

Mylan, Actavis pull out of race for Merck’s generics unit - report

MUMBAI (AFX) - Mylan Laboratories and Actavis Group have pulled out of the race for Merck KGaA’s generics business, reported the Economic Times.

The remaining contenders now are India’s Torrent Pharmaceuticals Ltd, along with private equity investors Fortress Investment Group and Greater Pacific Capital, and global giant Teva Pharmaceutical Industries.

RWE’s Dutch energy unit to sell gas networks to NRE for 400 mln eur

AMSTERDAM (AFX) - RWE AG unit RWE Energy Nederland NV said it has reached an agreement with NRE, a Dutch gas and electricity distribution company, for the sale of two gas distribution network companies for 400 mln eur in the second quarter of this year.

Ownership of Obragas Net and Netbeheer Haarlemmermeer will be handed over in the second quarter of this year.

Deutsche Telekom, EDS in exclusive talks on tie-up with T-Systems - report

FRANKFURT (AFX) - Deutsche Telekom AG is in exclusive talks with US telecoms service company EDS regarding a possible partnership with the German telecoms giant’s unit T-Systems, Handelsblatt said, citing industry sources.

T-Systems and EDS declined comment to Handelsblatt.

DaimlerChrysler says no ‘imminent’ announcement on Chrysler sale

FRANKFURT (AFX) - DaimlerChrysler AG is not planning an “imminent” announcement on the sale of its US unit Chrysler, a spokesman said, denying earlier market speculation.

“There is nothing new on Chrysler,” the spokesman said today.

Areva eyes US nuclear fuel cycle business in partnership with Japan cos - report

TOKYO (XFN-ASIA) - France’s Areva intends to enter the US nuclear fuel cycle business in partnership with US and Japanese companies, the Nikkei reported, citing Areva’s CEO Anne Lauvergeon.

According to the Nikkei, the US government plans to set up spent-nuclear-fuel reprocessing facilities, with companies likely to be decided through competitive bidding.

BASF’s Wintershall to invest more than 3.5 bln eur by 2010

BERLIN (AFX) - BASF AG’s oil & gas unit Wintershall wants to invest more than 3.5 bln eur by 2010, primarily in Siberia, with about 1 bln eur earmarked for this year, the unit said at its full-year conference.

The company also plans to invest in construction of Baltic Sea pipeline Nord Stream as well as in infrastructure in its German home market.

Wolters Kluwer sells learning ops to Bridgepoint for 750 mln eur - report

AMSTERDAM (AFX) - Wolters Kluwer NV is understood to have agreed to sell its education division to international private equity group Bridgepoint Capital for over 750 mln eur, the Financial Times reported, without citing sources.

A spokesperson for Wolters Kluwer declined to comment.

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

For more information and to contact AFX: www.afxnews.com and www.afxpress.com

LONDON (AFX) - Here are the top stories on AFX News

EU SUMMIT Leaders reach deal on fighting climate change

BRUSSELS (AFX) - EU leaders agreed to adopt binding targets on future use of renewable energy, overcoming the main obstacle to an ambitious plan to fight global warming.

The overall accord became possible once leaders agreed to a binding target of a 20 pct share of renewable energies in overall EU energy consumption by 2020, which had been the main stumbling block.

EADS reports $1.01 billion loss in 4Q

MUNICH, Germany (AP) - Airbus parent EADS NV said Friday that a weaker dollar and major delays at its Airbus unit dragged its 2006 profit down, caused a multimillion dollar quarterly loss and warned that Airbus would “display another substantial loss in 2007.”

The Amsterdam-based company lost 768 million euros ($1.01 billion) in the fourth quarter compared with a profit of 405 million euros a year earlier. Sales, however, were up 11 percent to 11.96 billion euros ($15.73 billion) compared with 10.76 billion euros in 2005.

Telecom Italia sees sales up 1-2 pct/year in 2007-09, vs 3-4 pct seen before

MILAN (AFX) - Telecom Italia SpA said it expects its group sales to rise 1.0-2.0 pct per year in the period 2007-2009 compared to the 3.0-4.0 pct per year growth target provided last year in the group’s previous 2006-2008 plan.

In its new 2007-2009 business plan, Telecom Italia said it expects EBITDA margins to decline by 2.5 and 2.0 percentage points in 2007 and remain broadly unchanged in the following years.

DaimlerChrysler has no plans to spin off commercial vehicles - Renschler

FRANKFURT (AFX) - DaimlerChrysler AG has no plans to spin off its commercial vehicles division, reported Sueddeutsche Zeitung in an interview with the unit’s chief Andreas Renschler.

“That is not on our agenda. Why would we separate from such a highly profitable business?” said Renschler.

AGF board backs Allianz buyout offer

PARIS (AFX) - Assurances Generales de France said its management board has decided unanimously to back the buyout offer made by the group’s largest shareholder, Allianz SE.

It said after consultations with external consultants the board decided that the financial terms were “fair” and that the strategic basis for the merger was “in the interest of the company, its shareholders and its employees.”

Telefonica asks Merrill Lynch provide finance for eventual Endemol buyer

AMSTERDAM (AFX) - Telefonica SA said it has asked Merril Lynch to offer stapled financing to the eventual buyer of Endemol NV as the Spanish group is exploring strategic options for the sale of all or part of its 75 pct stake in the Dutch television company.

If Telefonica were to decide to divest its 75 pct stake in Endemol, it said it would solicit from the potential purchaser a public offer for the other 25 pct of the shares outstanding in Endemol.

Philips to sell remaining 16.2 pct stake in TSMC

AMSTERDAM (AFX) - Royal Philips Electronics NV said it agreed a multi-phased plan with Taiwan Semiconductor Manufacturing Co Ltd (TSMC) to sell its remaining 16.2 pct interest in TSMC, which currently has a market valuation of some 8.5 bln usd.

In the near future, Philips plans to sell up to 1.75 bln usd worth of TSMC shares to accommodate identified demand from long-term financial investors in Taiwan.

Mecom says plans to raise 557 mln stg net via issue of 731 mln shares at 78p/shr

LONDON (AFX) - Pan-European newspaper publisher Mecom Group PLC said it plans to raise 557 mln stg after expenses by placing 731.07 mln new shares at 78 pence each to fund two acquisitions, pay outstanding loan notes, and to fund investments.

The company said it will buy a 75 pct stake of Berliner Verlag Deutsche Zeitungsholding GmbH and its units from Veronis Suhler Stevenson and its affiliates for about 163 mln eur.

Pernod Ricard, Bacardi, Diageo eye Absolut vodka

STOCKHOLM, Sweden - Three of the world’s top spirits makers — Pernod Ricard SA, Bacardi Ltd and Diageo PLC — have told the Swedish government they are interested in buying the state-owned liquor group that makes Absolut vodka, a spokeswoman said Thursday.

The center-right government presented plans last week to sell the V&S Vin & Sprit AB liquor group as part of wider privatization plans. V&S owns several brands of liquor and wine, with Absolut its biggest moneymaker.

Akzo Nobel expects Organon IPO on March 27

AMSTERDAM (AFX) - Akzo Nobel NV expects the IPO for Organon BioSciences to go ahead on March 27, with book-building expected to start on Monday, Organon CEO Toon Wilderbeek said.

Wilderbeek did not give an indication about the share price or how much Organon hopes to raise through the IPO, but said Akzo Nobel plans to make the price public on Monday, when it issues the prospectus.

Fortis Real Estate in talks to buy 33.6 pct of Agridec at around 204 eur/share

BRUSSELS (AFX) - Fortis Real Estate said has launched negotiations with Societe Financiere de l’Etoile and Societe de l’Etoile to acquire a stake in real estate group Agridec at around 204 eur per share.

SFE and SE currently hold stakes in Agridec of 23.6 pct and 10 pct respectively.

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

For more information and to contact AFX: www.afxnews.com and www.afxpress.com

LONDON (AFX) - Here are the top stories on AFX News

Italy’s Prodi wins second confidence vote

ROME (AFX) - Italy’s centre-left government easily won a vote of confidence today in the lower house of parliament, formally ending a political crisis sparked by last week’s resignation of Prime Minister Romano Prodi.

The centre-left prevailed in the Chamber of Deputies by 342 to 253, with two abstentions by far-left members.

Bayer to cut 6,100 jobs worldwide including 1,500 in Germany

FRANKFURT (AFX) - BAYER AG said its Bayer HealthCare AG business is to cut 6,100 jobs worldwide, including 1,500 in Germany, as part of a plan to generate synergies from the integration of Schering AG.

The company said 3,150 jobs are to be shed in Europe; 1,000 in the US; 750 in the Asia, Pacific and Japan region; and 1,200 in Latin America and Canada.

Cegedim to buy Dendrite for $751 million

NEW YORK (AP) - Cegedim SA, a French maker of software for pharmaceutical companies, said Friday it is buying Dendrite International Inc., which provides sales and marketing services for pharmaceutical companies, for about $751 million in cash.

The $16 per share offer represents a 40 percent premium over Bedminster, N.J.-based Dendrite’s average closing share price from Feb. 1 to March 1 and a a 25 percent premium over Thursday’s closing price of $12.79.

EADS unit Airbus could get cash injection from French regional authorities

PARIS (AFX) - The presidents of eight French socialist regional councils yesterday signalled their intention of investing in Airbus’ parent company EADS following the announcement of the Power8 restructuring plan for the ailing aircraft unit.

In a letter addressed to French prime minister Dominique de Villepin, the presidents of eight councils including Midi-Pyrenees, Ile-de-France, and Provence-Cote d’Azur, all of which have a socialist majority, criticised the planned 4,300 French job cuts, and asked for details on how they could take a stake in EADS’ capital.

Aker Kvaerner to restructure operations into five global businesses

OSLO (AFX) - Aker Kvaerner ASA said it is to restructure its business by transforming its existing six divisions into “five global business areas”, in a bid to both increase transparency and optimise the efficiency of its overall operations.

The Norwegian engineering firm said that by combining specialised units which work within the same market segments, the company will be able to increase overall capacity and improve its product offering.

Adecco CFO says 1.5 bln eur earmarked for potential acquisitions

ZURICH (AFX) - Temporary employment group Adecco SA said it has a war chest of 1.5 bln eur for potential acquisitions for the coming years, CFO Dominik de Daniel said at the company’s presentation of fourth-quarter and full-year results.

De Daniel emphatically ruled out the possibility of a capital increase to finance acquisitions.

Bodycote rejects Sulzer’s 325 pence a share offer, says it undervalues co

LONDON (AFX) - The board of UK group Bodycote International PLC has rejected a cash offer of 325 pence per share from Swiss engineering firm Sulzer AG.

Bodycote, which is being advised by Lehman Brothers and Credit Suisse, said it considered Sulzer’s proposal but rejected it because it undervalued the company.

Belgacom FY net rises to forecast-beating 973 mln eur vs 959 mln

BRUSSELS (AFX) - Belgian telecommunications group Belgacom SA posted a forecast-beating full-year net profit of 973 mln eur compared with 959 mln a year earlier as sales climbed to 6.1 bln eur from 5.7 bln.

EBITDA was in line with market expectations, easing to 2.149 bln eur from 2.214 bln.

Mediaset FY net slips to 505 mln eur vs 603, div 0.43 per share, unchanged

MILAN (AFX) - Mediaset SpA said its full-year net profit fell to a preliminary 505.0 mln eur from 603.4 mln a year earlier due to weak advertising revenues in Italy.

Nevertheless, the company said it will maintain its dividend at 0.43 eur per share.

Vivendi’s Maroc Telecom posts 16 pct rise in FY net on strong mobile business

PARIS (AFX) - Vivendi’s Maroc Telecom reported a 16 pct rise in 2006 net profit to a total of 607 mln eur, compared to 523 mln eur a year earlier, with the improvement primarily attributable to robust operating profitability in the mobile business.

Operating profit for the full year came out at 904 mln eur, up 15.5 pct from 793 mln eur in 2005.

Linde FY net after minorities 1.838 bln eur vs 514 mln

FRANKFURT (AFX) - Linde AG said its full-year net profit after minorities, including special items, rose to 1.838 bln eur from 514 mln.

The company said its EBITDA more than doubled to 3.830 bln eur from 1.705 bln.

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

For more information and to contact AFX: www.afxnews.com and www.afxpress.com

LONDON (AFX) - Here are the top stories on AFX News

EU SUMMIT Leaders reach deal on fighting climate change

BRUSSELS (AFX) - EU leaders agreed to adopt binding targets on future use of renewable energy, overcoming the main obstacle to an ambitious plan to fight global warming.

The overall accord became possible once leaders agreed to a binding target of a 20 pct share of renewable energies in overall EU energy consumption by 2020, which had been the main stumbling block.

EADS reports $1.01 billion loss in 4Q

MUNICH, Germany (AP) - Airbus parent EADS NV said Friday that a weaker dollar and major delays at its Airbus unit dragged its 2006 profit down, caused a multimillion dollar quarterly loss and warned that Airbus would “display another substantial loss in 2007.”

The Amsterdam-based company lost 768 million euros ($1.01 billion) in the fourth quarter compared with a profit of 405 million euros a year earlier. Sales, however, were up 11 percent to 11.96 billion euros ($15.73 billion) compared with 10.76 billion euros in 2005.

Telecom Italia sees sales up 1-2 pct/year in 2007-09, vs 3-4 pct seen before

MILAN (AFX) - Telecom Italia SpA said it expects its group sales to rise 1.0-2.0 pct per year in the period 2007-2009 compared to the 3.0-4.0 pct per year growth target provided last year in the group’s previous 2006-2008 plan.

In its new 2007-2009 business plan, Telecom Italia said it expects EBITDA margins to decline by 2.5 and 2.0 percentage points in 2007 and remain broadly unchanged in the following years.

DaimlerChrysler has no plans to spin off commercial vehicles - Renschler

FRANKFURT (AFX) - DaimlerChrysler AG has no plans to spin off its commercial vehicles division, reported Sueddeutsche Zeitung in an interview with the unit’s chief Andreas Renschler.

“That is not on our agenda. Why would we separate from such a highly profitable business?” said Renschler.

AGF board backs Allianz buyout offer

PARIS (AFX) - Assurances Generales de France said its management board has decided unanimously to back the buyout offer made by the group’s largest shareholder, Allianz SE.

It said after consultations with external consultants the board decided that the financial terms were “fair” and that the strategic basis for the merger was “in the interest of the company, its shareholders and its employees.”

Telefonica asks Merrill Lynch provide finance for eventual Endemol buyer

AMSTERDAM (AFX) - Telefonica SA said it has asked Merril Lynch to offer stapled financing to the eventual buyer of Endemol NV as the Spanish group is exploring strategic options for the sale of all or part of its 75 pct stake in the Dutch television company.

If Telefonica were to decide to divest its 75 pct stake in Endemol, it said it would solicit from the potential purchaser a public offer for the other 25 pct of the shares outstanding in Endemol.

Philips to sell remaining 16.2 pct stake in TSMC

AMSTERDAM (AFX) - Royal Philips Electronics NV said it agreed a multi-phased plan with Taiwan Semiconductor Manufacturing Co Ltd (TSMC) to sell its remaining 16.2 pct interest in TSMC, which currently has a market valuation of some 8.5 bln usd.

In the near future, Philips plans to sell up to 1.75 bln usd worth of TSMC shares to accommodate identified demand from long-term financial investors in Taiwan.

Mecom says plans to raise 557 mln stg net via issue of 731 mln shares at 78p/shr

LONDON (AFX) - Pan-European newspaper publisher Mecom Group PLC said it plans to raise 557 mln stg after expenses by placing 731.07 mln new shares at 78 pence each to fund two acquisitions, pay outstanding loan notes, and to fund investments.

The company said it will buy a 75 pct stake of Berliner Verlag Deutsche Zeitungsholding GmbH and its units from Veronis Suhler Stevenson and its affiliates for about 163 mln eur.

Pernod Ricard, Bacardi, Diageo eye Absolut vodka

STOCKHOLM, Sweden - Three of the world’s top spirits makers — Pernod Ricard SA, Bacardi Ltd and Diageo PLC — have told the Swedish government they are interested in buying the state-owned liquor group that makes Absolut vodka, a spokeswoman said Thursday.

The center-right government presented plans last week to sell the V&S Vin & Sprit AB liquor group as part of wider privatization plans. V&S owns several brands of liquor and wine, with Absolut its biggest moneymaker.

Akzo Nobel expects Organon IPO on March 27

AMSTERDAM (AFX) - Akzo Nobel NV expects the IPO for Organon BioSciences to go ahead on March 27, with book-building expected to start on Monday, Organon CEO Toon Wilderbeek said.

Wilderbeek did not give an indication about the share price or how much Organon hopes to raise through the IPO, but said Akzo Nobel plans to make the price public on Monday, when it issues the prospectus.

Fortis Real Estate in talks to buy 33.6 pct of Agridec at around 204 eur/share

BRUSSELS (AFX) - Fortis Real Estate said has launched negotiations with Societe Financiere de l’Etoile and Societe de l’Etoile to acquire a stake in real estate group Agridec at around 204 eur per share.

SFE and SE currently hold stakes in Agridec of 23.6 pct and 10 pct respectively.

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

For more information and to contact AFX: www.afxnews.com and www.afxpress.com

LONDON (AFX) - Here are the top stories on AFX News

EU SUMMIT Leaders reach deal on fighting climate change

BRUSSELS (AFX) - EU leaders agreed to adopt binding targets on future use of renewable energy, overcoming the main obstacle to an ambitious plan to fight global warming.

The overall accord became possible once leaders agreed to a binding target of a 20 pct share of renewable energies in overall EU energy consumption by 2020, which had been the main stumbling block.

EADS reports $1.01 billion loss in 4Q

MUNICH, Germany (AP) - Airbus parent EADS NV said Friday that a weaker dollar and major delays at its Airbus unit dragged its 2006 profit down, caused a multimillion dollar quarterly loss and warned that Airbus would “display another substantial loss in 2007.”

The Amsterdam-based company lost 768 million euros ($1.01 billion) in the fourth quarter compared with a profit of 405 million euros a year earlier. Sales, however, were up 11 percent to 11.96 billion euros ($15.73 billion) compared with 10.76 billion euros in 2005.

Telecom Italia sees sales up 1-2 pct/year in 2007-09, vs 3-4 pct seen before

MILAN (AFX) - Telecom Italia SpA said it expects its group sales to rise 1.0-2.0 pct per year in the period 2007-2009 compared to the 3.0-4.0 pct per year growth target provided last year in the group’s previous 2006-2008 plan.

In its new 2007-2009 business plan, Telecom Italia said it expects EBITDA margins to decline by 2.5 and 2.0 percentage points in 2007 and remain broadly unchanged in the following years.

DaimlerChrysler has no plans to spin off commercial vehicles - Renschler

FRANKFURT (AFX) - DaimlerChrysler AG has no plans to spin off its commercial vehicles division, reported Sueddeutsche Zeitung in an interview with the unit’s chief Andreas Renschler.

“That is not on our agenda. Why would we separate from such a highly profitable business?” said Renschler.

AGF board backs Allianz buyout offer

PARIS (AFX) - Assurances Generales de France said its management board has decided unanimously to back the buyout offer made by the group’s largest shareholder, Allianz SE.

It said after consultations with external consultants the board decided that the financial terms were “fair” and that the strategic basis for the merger was “in the interest of the company, its shareholders and its employees.”

Telefonica asks Merrill Lynch provide finance for eventual Endemol buyer

AMSTERDAM (AFX) - Telefonica SA said it has asked Merril Lynch to offer stapled financing to the eventual buyer of Endemol NV as the Spanish group is exploring strategic options for the sale of all or part of its 75 pct stake in the Dutch television company.

If Telefonica were to decide to divest its 75 pct stake in Endemol, it said it would solicit from the potential purchaser a public offer for the other 25 pct of the shares outstanding in Endemol.

Philips to sell remaining 16.2 pct stake in TSMC

AMSTERDAM (AFX) - Royal Philips Electronics NV said it agreed a multi-phased plan with Taiwan Semiconductor Manufacturing Co Ltd (TSMC) to sell its remaining 16.2 pct interest in TSMC, which currently has a market valuation of some 8.5 bln usd.

In the near future, Philips plans to sell up to 1.75 bln usd worth of TSMC shares to accommodate identified demand from long-term financial investors in Taiwan.

Mecom says plans to raise 557 mln stg net via issue of 731 mln shares at 78p/shr

LONDON (AFX) - Pan-European newspaper publisher Mecom Group PLC said it plans to raise 557 mln stg after expenses by placing 731.07 mln new shares at 78 pence each to fund two acquisitions, pay outstanding loan notes, and to fund investments.

The company said it will buy a 75 pct stake of Berliner Verlag Deutsche Zeitungsholding GmbH and its units from Veronis Suhler Stevenson and its affiliates for about 163 mln eur.

Pernod Ricard, Bacardi, Diageo eye Absolut vodka

STOCKHOLM, Sweden - Three of the world’s top spirits makers — Pernod Ricard SA, Bacardi Ltd and Diageo PLC — have told the Swedish government they are interested in buying the state-owned liquor group that makes Absolut vodka, a spokeswoman said Thursday.

The center-right government presented plans last week to sell the V&S Vin & Sprit AB liquor group as part of wider privatization plans. V&S owns several brands of liquor and wine, with Absolut its biggest moneymaker.

Akzo Nobel expects Organon IPO on March 27

AMSTERDAM (AFX) - Akzo Nobel NV expects the IPO for Organon BioSciences to go ahead on March 27, with book-building expected to start on Monday, Organon CEO Toon Wilderbeek said.

Wilderbeek did not give an indication about the share price or how much Organon hopes to raise through the IPO, but said Akzo Nobel plans to make the price public on Monday, when it issues the prospectus.

Fortis Real Estate in talks to buy 33.6 pct of Agridec at around 204 eur/share

BRUSSELS (AFX) - Fortis Real Estate said has launched negotiations with Societe Financiere de l’Etoile and Societe de l’Etoile to acquire a stake in real estate group Agridec at around 204 eur per share.

SFE and SE currently hold stakes in Agridec of 23.6 pct and 10 pct respectively.

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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

For more information and to contact AFX: www.afxnews.com and www.afxpress.com

LONDON (AFX) - Here are the top stories on AFX News

Italy’s Prodi wins second confidence vote

ROME (AFX) - Italy’s centre-left government easily won a vote of confidence today in the lower house of parliament, formally ending a political crisis sparked by last week’s resignation of Prime Minister Romano Prodi.

The centre-left prevailed in the Chamber of Deputies by 342 to 253, with two abstentions by far-left members.

Bayer to cut 6,100 jobs worldwide including 1,500 in Germany

FRANKFURT (AFX) - BAYER AG said its Bayer HealthCare AG business is to cut 6,100 jobs worldwide, including 1,500 in Germany, as part of a plan to generate synergies from the integration of Schering AG.

The company said 3,150 jobs are to be shed in Europe; 1,000 in the US; 750 in the Asia, Pacific and Japan region; and 1,200 in Latin America and Canada.

Cegedim to buy Dendrite for $751 million

NEW YORK (AP) - Cegedim SA, a French maker of software for pharmaceutical companies, said Friday it is buying Dendrite International Inc., which provides sales and marketing services for pharmaceutical companies, for about $751 million in cash.

The $16 per share offer represents a 40 percent premium over Bedminster, N.J.-based Dendrite’s average closing share price from Feb. 1 to March 1 and a a 25 percent premium over Thursday’s closing price of $12.79.

EADS unit Airbus could get cash injection from French regional authorities

PARIS (AFX) - The presidents of eight French socialist regional councils yesterday signalled their intention of investing in Airbus’ parent company EADS following the announcement of the Power8 restructuring plan for the ailing aircraft unit.

In a letter addressed to French prime minister Dominique de Villepin, the presidents of eight councils including Midi-Pyrenees, Ile-de-France, and Provence-Cote d’Azur, all of which have a socialist majority, criticised the planned 4,300 French job cuts, and asked for details on how they could take a stake in EADS’ capital.

Aker Kvaerner to restructure operations into five global businesses

OSLO (AFX) - Aker Kvaerner ASA said it is to restructure its business by transforming its existing six divisions into “five global business areas”, in a bid to both increase transparency and optimise the efficiency of its overall operations.

The Norwegian engineering firm said that by combining specialised units which work within the same market segments, the company will be able to increase overall capacity and improve its product offering.

Adecco CFO says 1.5 bln eur earmarked for potential acquisitions

ZURICH (AFX) - Temporary employment group Adecco SA said it has a war chest of 1.5 bln eur for potential acquisitions for the coming years, CFO Dominik de Daniel said at the company’s presentation of fourth-quarter and full-year results.

De Daniel emphatically ruled out the possibility of a capital increase to finance acquisitions.

Bodycote rejects Sulzer’s 325 pence a share offer, says it undervalues co

LONDON (AFX) - The board of UK group Bodycote International PLC has rejected a cash offer of 325 pence per share from Swiss engineering firm Sulzer AG.

Bodycote, which is being advised by Lehman Brothers and Credit Suisse, said it considered Sulzer’s proposal but rejected it because it undervalued the company.

Belgacom FY net rises to forecast-beating 973 mln eur vs 959 mln

BRUSSELS (AFX) - Belgian telecommunications group Belgacom SA posted a forecast-beating full-year net profit of 973 mln eur compared with 959 mln a year earlier as sales climbed to 6.1 bln eur from 5.7 bln.

EBITDA was in line with market expectations, easing to 2.149 bln eur from 2.214 bln.

Mediaset FY net slips to 505 mln eur vs 603, div 0.43 per share, unchanged

MILAN (AFX) - Mediaset SpA said its full-year net profit fell to a preliminary 505.0 mln eur from 603.4 mln a year earlier due to weak advertising revenues in Italy.

Nevertheless, the company said it will maintain its dividend at 0.43 eur per share.

Vivendi’s Maroc Telecom posts 16 pct rise in FY net on strong mobile business

PARIS (AFX) - Vivendi’s Maroc Telecom reported a 16 pct rise in 2006 net profit to a total of 607 mln eur, compared to 523 mln eur a year earlier, with the improvement primarily attributable to robust operating profitability in the mobile business.

Operating profit for the full year came out at 904 mln eur, up 15.5 pct from 793 mln eur in 2005.

Linde FY net after minorities 1.838 bln eur vs 514 mln

FRANKFURT (AFX) - Linde AG said its full-year net profit after minorities, including special items, rose to 1.838 bln eur from 514 mln.

The company said its EBITDA more than doubled to 3.830 bln eur from 1.705 bln.

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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.

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For more information and to contact AFX: www.afxnews.com and www.afxpress.com

LONDON (AFX) - Here are the top stories on AFX News

EU SUMMIT Leaders reach deal on fighting climate change

BRUSSELS (AFX) - EU leaders agreed to adopt binding targets on future use of renewable energy, overcoming the main obstacle to an ambitious plan to fight global warming.

The overall accord became possible once leaders agreed to a binding target of a 20 pct share of renewable energies in overall EU energy consumption by 2020, which had been the main stumbling block.

EADS reports $1.01 billion loss in 4Q

MUNICH, Germany (AP) - Airbus parent EADS NV said Friday that a weaker dollar and major delays at its Airbus unit dragged its 2006 profit down, caused a multimillion dollar quarterly loss and warned that Airbus would “display another substantial loss in 2007.”

The Amsterdam-based company lost 768 million euros ($1.01 billion) in the fourth quarter compared with a profit of 405 million euros a year earlier. Sales, however, were up 11 percent to 11.96 billion euros ($15.73 billion) compared with 10.76 billion euros in 2005.

Telecom Italia sees sales up 1-2 pct/year in 2007-09, vs 3-4 pct seen before

MILAN (AFX) - Telecom Italia SpA said it expects its group sales to rise 1.0-2.0 pct per year in the period 2007-2009 compared to the 3.0-4.0 pct per year growth target provided last year in the group’s previous 2006-2008 plan.

In its new 2007-2009 business plan, Telecom Italia said it expects EBITDA margins to decline by 2.5 and 2.0 percentage points in 2007 and remain broadly unchanged in the following years.

DaimlerChrysler has no plans to spin off commercial vehicles - Renschler

FRANKFURT (AFX) - DaimlerChrysler AG has no plans to spin off its commercial vehicles division, reported Sueddeutsche Zeitung in an interview with the unit’s chief Andreas Renschler.

“That is not on our agenda. Why would we separate from such a highly profitable business?” said Renschler.

AGF board backs Allianz buyout offer

PARIS (AFX) - Assurances Generales de France said its management board has decided unanimously to back the buyout offer made by the group’s largest shareholder, Allianz SE.

It said after consultations with external consultants the board decided that the financial terms were “fair” and that the strategic basis for the merger was “in the interest of the company, its shareholders and its employees.”

Telefonica asks Merrill Lynch provide finance for eventual Endemol buyer

AMSTERDAM (AFX) - Telefonica SA said it has asked Merril Lynch to offer stapled financing to the eventual buyer of Endemol NV as the Spanish group is exploring strategic options for the sale of all or part of its 75 pct stake in the Dutch television company.

If Telefonica were to decide to divest its 75 pct stake in Endemol, it said it would solicit from the potential purchaser a public offer for the other 25 pct of the shares outstanding in Endemol.

Philips to sell remaining 16.2 pct stake in TSMC

AMSTERDAM (AFX) - Royal Philips Electronics NV said it agreed a multi-phased plan with Taiwan Semiconductor Manufacturing Co Ltd (TSMC) to sell its remaining 16.2 pct interest in TSMC, which currently has a market valuation of some 8.5 bln usd.

In the near future, Philips plans to sell up to 1.75 bln usd worth of TSMC shares to accommodate identified demand from long-term financial investors in Taiwan.

Mecom says plans to raise 557 mln stg net via issue of 731 mln shares at 78p/shr

LONDON (AFX) - Pan-European newspaper publisher Mecom Group PLC said it plans to raise 557 mln stg after expenses by placing 731.07 mln new shares at 78 pence each to fund two acquisitions, pay outstanding loan notes, and to fund investments.

The company said it will buy a 75 pct stake of Berliner Verlag Deutsche Zeitungsholding GmbH and its units from Veronis Suhler Stevenson and its affiliates for about 163 mln eur.

Pernod Ricard, Bacardi, Diageo eye Absolut vodka

STOCKHOLM, Sweden - Three of the world’s top spirits makers — Pernod Ricard SA, Bacardi Ltd and Diageo PLC — have told the Swedish government they are interested in buying the state-owned liquor group that makes Absolut vodka, a spokeswoman said Thursday.

The center-right government presented plans last week to sell the V&S Vin & Sprit AB liquor group as part of wider privatization plans. V&S owns several brands of liquor and wine, with Absolut its biggest moneymaker.

Akzo Nobel expects Organon IPO on March 27

AMSTERDAM (AFX) - Akzo Nobel NV expects the IPO for Organon BioSciences to go ahead on March 27, with book-building expected to start on Monday, Organon CEO Toon Wilderbeek said.

Wilderbeek did not give an indication about the share price or how much Organon hopes to raise through the IPO, but said Akzo Nobel plans to make the price public on Monday, when it issues the prospectus.

Fortis Real Estate in talks to buy 33.6 pct of Agridec at around 204 eur/share

BRUSSELS (AFX) - Fortis Real Estate said has launched negotiations with Societe Financiere de l’Etoile and Societe de l’Etoile to acquire a stake in real estate group Agridec at around 204 eur per share.

SFE and SE currently hold stakes in Agridec of 23.6 pct and 10 pct respectively.

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

For more information and to contact AFX: www.afxnews.com and www.afxpress.com

LONDON (AFX) - Here are the top stories on AFX News

Italy’s Prodi wins second confidence vote

ROME (AFX) - Italy’s centre-left government easily won a vote of confidence today in the lower house of parliament, formally ending a political crisis sparked by last week’s resignation of Prime Minister Romano Prodi.

The centre-left prevailed in the Chamber of Deputies by 342 to 253, with two abstentions by far-left members.

Bayer to cut 6,100 jobs worldwide including 1,500 in Germany

FRANKFURT (AFX) - BAYER AG said its Bayer HealthCare AG business is to cut 6,100 jobs worldwide, including 1,500 in Germany, as part of a plan to generate synergies from the integration of Schering AG.

The company said 3,150 jobs are to be shed in Europe; 1,000 in the US; 750 in the Asia, Pacific and Japan region; and 1,200 in Latin America and Canada.

Cegedim to buy Dendrite for $751 million

NEW YORK (AP) - Cegedim SA, a French maker of software for pharmaceutical companies, said Friday it is buying Dendrite International Inc., which provides sales and marketing services for pharmaceutical companies, for about $751 million in cash.

The $16 per share offer represents a 40 percent premium over Bedminster, N.J.-based Dendrite’s average closing share price from Feb. 1 to March 1 and a a 25 percent premium over Thursday’s closing price of $12.79.

EADS unit Airbus could get cash injection from French regional authorities

PARIS (AFX) - The presidents of eight French socialist regional councils yesterday signalled their intention of investing in Airbus’ parent company EADS following the announcement of the Power8 restructuring plan for the ailing aircraft unit.

In a letter addressed to French prime minister Dominique de Villepin, the presidents of eight councils including Midi-Pyrenees, Ile-de-France, and Provence-Cote d’Azur, all of which have a socialist majority, criticised the planned 4,300 French job cuts, and asked for details on how they could take a stake in EADS’ capital.

Aker Kvaerner to restructure operations into five global businesses

OSLO (AFX) - Aker Kvaerner ASA said it is to restructure its business by transforming its existing six divisions into “five global business areas”, in a bid to both increase transparency and optimise the efficiency of its overall operations.

The Norwegian engineering firm said that by combining specialised units which work within the same market segments, the company will be able to increase overall capacity and improve its product offering.

Adecco CFO says 1.5 bln eur earmarked for potential acquisitions

ZURICH (AFX) - Temporary employment group Adecco SA said it has a war chest of 1.5 bln eur for potential acquisitions for the coming years, CFO Dominik de Daniel said at the company’s presentation of fourth-quarter and full-year results.

De Daniel emphatically ruled out the possibility of a capital increase to finance acquisitions.

Bodycote rejects Sulzer’s 325 pence a share offer, says it undervalues co

LONDON (AFX) - The board of UK group Bodycote International PLC has rejected a cash offer of 325 pence per share from Swiss engineering firm Sulzer AG.

Bodycote, which is being advised by Lehman Brothers and Credit Suisse, said it considered Sulzer’s proposal but rejected it because it undervalued the company.

Belgacom FY net rises to forecast-beating 973 mln eur vs 959 mln

BRUSSELS (AFX) - Belgian telecommunications group Belgacom SA posted a forecast-beating full-year net profit of 973 mln eur compared with 959 mln a year earlier as sales climbed to 6.1 bln eur from 5.7 bln.

EBITDA was in line with market expectations, easing to 2.149 bln eur from 2.214 bln.

Mediaset FY net slips to 505 mln eur vs 603, div 0.43 per share, unchanged

MILAN (AFX) - Mediaset SpA said its full-year net profit fell to a preliminary 505.0 mln eur from 603.4 mln a year earlier due to weak advertising revenues in Italy.

Nevertheless, the company said it will maintain its dividend at 0.43 eur per share.

Vivendi’s Maroc Telecom posts 16 pct rise in FY net on strong mobile business

PARIS (AFX) - Vivendi’s Maroc Telecom reported a 16 pct rise in 2006 net profit to a total of 607 mln eur, compared to 523 mln eur a year earlier, with the improvement primarily attributable to robust operating profitability in the mobile business.

Operating profit for the full year came out at 904 mln eur, up 15.5 pct from 793 mln eur in 2005.

Linde FY net after minorities 1.838 bln eur vs 514 mln

FRANKFURT (AFX) - Linde AG said its full-year net profit after minorities, including special items, rose to 1.838 bln eur from 514 mln.

The company said its EBITDA more than doubled to 3.830 bln eur from 1.705 bln.

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

For more information and to contact AFX: www.afxnews.com and www.afxpress.com

LONDON (AFX) - Here are the top stories on AFX News

EU warns Microsoft of further penalties over unreasonable pricing

BRUSSELS (AFX) - The European Commission warned Microsoft Corp that the computer software giant could face further penalties over unreasonable pricing.

The commission said it has sent a statement of objections to Microsoft for failing to comply with some of the obligations under its antitrust ruling in March 2004.

Deutsche Telekom Q4 adj EBITDA drops 12.5 pct as weak domestic ops weigh

FRANKFURT (AFX) - Deutsche Telekom AG’s adjusted fourth-quarter EBITDA fell 12.5 pct as the German telecoms giant continued to struggle with weak business in its home market.

EBITDA adjusted for special factors in the three months to Dec 31 was 4.548 bln eur, down from 5.199 bln in the same period a year earlier, the Bonn-based company said. This fell short of the 4.650 bln consensus forecast of analysts polled by AFX News.

Swiss Re FY net beats forecasts; launches 6 bln sfr buyback, hikes div

ZURICH (AFX) - Swiss Re reported a forecast-beating full year net profit of 4.560 bln sfr, up from 2.304 bln a year earlier, citing a disciplined underwriting approach in its property & casualty business lines, consistent returns from the life & health segment and a rising contribution from its financial services.

Analysts polled by AFX News forecast net profit to reach 3.268-3.882 bln sfr or 3.641 bln on average.

InBev FY net rockets on higher sales driven by Lat America volumes

BRUSSELS (AFX) - InBev SA said its net profit has rocketed year-on-year, in-line with expectations, on higher sales and driven by volume growth in Latin America, with the brewer eclipsing its long-term operating margin target.

Full year net for the Leuven-based group soared to 1.41 bln eur from 904.0 mln last year and in line with 1.35-1.49 bln forecasts. For the fourth quarter, net jumped to 371.0 mln eur from 165.0 mln.

Telefonica FY net up 40.2 pct at 6.233 bln eur vs 4.446 bln; in line

MADRID (AFX) - Telefonica SA said net profit grew 40.2 pct to 6.233 bln eur in the full year to December from 4.446 bln a year earlier, in line with analysts’ forecasts for 4.113-6.898 bln, on revenues of 52.901 bln, up from 37.383 bln.

In a statement, the telecos giant said operating income before depreciation and amortisation (OIBDA) rose to 19.126 bln eur from 15.056 bln, also in line with forecasts for 13.913-20.876 bln.

Aker Q4 EBITDA flat as asset value jumps to 36 bln nkr vs 19 bln

OSLO (AFX) - Aker ASA posted fourth quarter EBITDA of 1.06 bln nkr, broadly level with last year’s 1.04 bln, as the value of the holding company’s listed assets surged to 36 bln nkr from 19 bln a year earlier.

Aker holds substantial stakes in a number of companies, including Aker Kvaerner ASA, Aker Yards ASA, Aker American Shipping ASA and Aker Seafoods ASA.

Merck sees 2008/09 EBIT margin unchanged vs 2007/8

FRANKFURT (AFX) - Merck KGaA said it expects its 2008/09 EBIT margin for its five divisions -

Ethicals, Serono, Consumer Health Care, Liquid Crystals and Performance Life Science - to be unchanged from its expectations for 2007/08.

Allianz plans to enter Japanese life insurance market in 2008

FRANKFURT (AFX) - Allianz SE is planning to enter the Japanese life insurance market next year, a company spokeswoman said, confirming Japanese media reports.

“We are currently launching a 100 pct Allianz unit (in Japan),” she said, adding that business operations are to begin there in 2008.

Italy 2006 unadjusted GDP up 1.9 pct yr-on-yr; public deficit 4.4 pct of GDP

ROME (AFX) - Italy’s GDP, unadjusted to the number of working days, rose 1.9 pct year-on-year in 2006 compared with a 0.1 pct rise in 2005, according to the statistics office ISTAT.

ISTAT added that the public deficit totalled 4.4 pct of GDP compared with 4.1 pct a year earlier.

Swedish Q4 GDP growth 4.7 pct year-on-year

COPENHAGEN (AFX) - Sweden’s calendar-adjusted GDP rose by 4.7 pct during the fourth quarter 2006 compared to a year earlier, Statistics Sweden reported.

Compared to the third quarter 2006, the seasonally adjusted GDP grew by 1.2 pct.

Randstad, Mittal to join AEX index from tomorrow, Getronics relegated to midcap

AMSTERDAM (AFX) - Randstad Holding NV and Mittal Steel Co NV/Arcelor Mittal will join the benchmark AEX index from tomorrow, Euronext said.

Getronics NV will drop from the AEX to the midcap AMX index, with BinckBank NV, SNS Reaal Groep NV and Tele Atlas NV also joining the AMX.

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

For more information and to contact AFX: www.afxnews.com and www.afxpress.com

LONDON (AFX) - Here are the top stories on AFX News

EU warns Microsoft of further penalties over unreasonable pricing

BRUSSELS (AFX) - The European Commission warned Microsoft Corp that the computer software giant could face further penalties over unreasonable pricing.

The commission said it has sent a statement of objections to Microsoft for failing to comply with some of the obligations under its antitrust ruling in March 2004.

Deutsche Telekom Q4 adj EBITDA drops 12.5 pct as weak domestic ops weigh

FRANKFURT (AFX) - Deutsche Telekom AG’s adjusted fourth-quarter EBITDA fell 12.5 pct as the German telecoms giant continued to struggle with weak business in its home market.

EBITDA adjusted for special factors in the three months to Dec 31 was 4.548 bln eur, down from 5.199 bln in the same period a year earlier, the Bonn-based company said. This fell short of the 4.650 bln consensus forecast of analysts polled by AFX News.

Swiss Re FY net beats forecasts; launches 6 bln sfr buyback, hikes div

ZURICH (AFX) - Swiss Re reported a forecast-beating full year net profit of 4.560 bln sfr, up from 2.304 bln a year earlier, citing a disciplined underwriting approach in its property & casualty business lines, consistent returns from the life & health segment and a rising contribution from its financial services.

Analysts polled by AFX News forecast net profit to reach 3.268-3.882 bln sfr or 3.641 bln on average.

InBev FY net rockets on higher sales driven by Lat America volumes

BRUSSELS (AFX) - InBev SA said its net profit has rocketed year-on-year, in-line with expectations, on higher sales and driven by volume growth in Latin America, with the brewer eclipsing its long-term operating margin target.

Full year net for the Leuven-based group soared to 1.41 bln eur from 904.0 mln last year and in line with 1.35-1.49 bln forecasts. For the fourth quarter, net jumped to 371.0 mln eur from 165.0 mln.

Telefonica FY net up 40.2 pct at 6.233 bln eur vs 4.446 bln; in line

MADRID (AFX) - Telefonica SA said net profit grew 40.2 pct to 6.233 bln eur in the full year to December from 4.446 bln a year earlier, in line with analysts’ forecasts for 4.113-6.898 bln, on revenues of 52.901 bln, up from 37.383 bln.

In a statement, the telecos giant said operating income before depreciation and amortisation (OIBDA) rose to 19.126 bln eur from 15.056 bln, also in line with forecasts for 13.913-20.876 bln.

Aker Q4 EBITDA flat as asset value jumps to 36 bln nkr vs 19 bln

OSLO (AFX) - Aker ASA posted fourth quarter EBITDA of 1.06 bln nkr, broadly level with last year’s 1.04 bln, as the value of the holding company’s listed assets surged to 36 bln nkr from 19 bln a year earlier.

Aker holds substantial stakes in a number of companies, including Aker Kvaerner ASA, Aker Yards ASA, Aker American Shipping ASA and Aker Seafoods ASA.

Merck sees 2008/09 EBIT margin unchanged vs 2007/8

FRANKFURT (AFX) - Merck KGaA said it expects its 2008/09 EBIT margin for its five divisions -

Ethicals, Serono, Consumer Health Care, Liquid Crystals and Performance Life Science - to be unchanged from its expectations for 2007/08.

Allianz plans to enter Japanese life insurance market in 2008

FRANKFURT (AFX) - Allianz SE is planning to enter the Japanese life insurance market next year, a company spokeswoman said, confirming Japanese media reports.

“We are currently launching a 100 pct Allianz unit (in Japan),” she said, adding that business operations are to begin there in 2008.

Italy 2006 unadjusted GDP up 1.9 pct yr-on-yr; public deficit 4.4 pct of GDP

ROME (AFX) - Italy’s GDP, unadjusted to the number of working days, rose 1.9 pct year-on-year in 2006 compared with a 0.1 pct rise in 2005, according to the statistics office ISTAT.

ISTAT added that the public deficit totalled 4.4 pct of GDP compared with 4.1 pct a year earlier.

Swedish Q4 GDP growth 4.7 pct year-on-year

COPENHAGEN (AFX) - Sweden’s calendar-adjusted GDP rose by 4.7 pct during the fourth quarter 2006 compared to a year earlier, Statistics Sweden reported.

Compared to the third quarter 2006, the seasonally adjusted GDP grew by 1.2 pct.

Randstad, Mittal to join AEX index from tomorrow, Getronics relegated to midcap

AMSTERDAM (AFX) - Randstad Holding NV and Mittal Steel Co NV/Arcelor Mittal will join the benchmark AEX index from tomorrow, Euronext said.

Getronics NV will drop from the AEX to the midcap AMX index, with BinckBank NV, SNS Reaal Groep NV and Tele Atlas NV also joining the AMX.

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

For more information and to contact AFX: www.afxnews.com and www.afxpress.com

LONDON (AFX) - Here are the top stories on AFX News

Italy’s Prodi wins second confidence vote

ROME (AFX) - Italy’s centre-left government easily won a vote of confidence today in the lower house of parliament, formally ending a political crisis sparked by last week’s resignation of Prime Minister Romano Prodi.

The centre-left prevailed in the Chamber of Deputies by 342 to 253, with two abstentions by far-left members.

Bayer to cut 6,100 jobs worldwide including 1,500 in Germany

FRANKFURT (AFX) - BAYER AG said its Bayer HealthCare AG business is to cut 6,100 jobs worldwide, including 1,500 in Germany, as part of a plan to generate synergies from the integration of Schering AG.

The company said 3,150 jobs are to be shed in Europe; 1,000 in the US; 750 in the Asia, Pacific and Japan region; and 1,200 in Latin America and Canada.

Cegedim to buy Dendrite for $751 million

NEW YORK (AP) - Cegedim SA, a French maker of software for pharmaceutical companies, said Friday it is buying Dendrite International Inc., which provides sales and marketing services for pharmaceutical companies, for about $751 million in cash.

The $16 per share offer represents a 40 percent premium over Bedminster, N.J.-based Dendrite’s average closing share price from Feb. 1 to March 1 and a a 25 percent premium over Thursday’s closing price of $12.79.

EADS unit Airbus could get cash injection from French regional authorities

PARIS (AFX) - The presidents of eight French socialist regional councils yesterday signalled their intention of investing in Airbus’ parent company EADS following the announcement of the Power8 restructuring plan for the ailing aircraft unit.

In a letter addressed to French prime minister Dominique de Villepin, the presidents of eight councils including Midi-Pyrenees, Ile-de-France, and Provence-Cote d’Azur, all of which have a socialist majority, criticised the planned 4,300 French job cuts, and asked for details on how they could take a stake in EADS’ capital.

Aker Kvaerner to restructure operations into five global businesses

OSLO (AFX) - Aker Kvaerner ASA said it is to restructure its business by transforming its existing six divisions into “five global business areas”, in a bid to both increase transparency and optimise the efficiency of its overall operations.

The Norwegian engineering firm said that by combining specialised units which work within the same market segments, the company will be able to increase overall capacity and improve its product offering.

Adecco CFO says 1.5 bln eur earmarked for potential acquisitions

ZURICH (AFX) - Temporary employment group Adecco SA said it has a war chest of 1.5 bln eur for potential acquisitions for the coming years, CFO Dominik de Daniel said at the company’s presentation of fourth-quarter and full-year results.

De Daniel emphatically ruled out the possibility of a capital increase to finance acquisitions.

Bodycote rejects Sulzer’s 325 pence a share offer, says it undervalues co

LONDON (AFX) - The board of UK group Bodycote International PLC has rejected a cash offer of 325 pence per share from Swiss engineering firm Sulzer AG.

Bodycote, which is being advised by Lehman Brothers and Credit Suisse, said it considered Sulzer’s proposal but rejected it because it undervalued the company.

Belgacom FY net rises to forecast-beating 973 mln eur vs 959 mln

BRUSSELS (AFX) - Belgian telecommunications group Belgacom SA posted a forecast-beating full-year net profit of 973 mln eur compared with 959 mln a year earlier as sales climbed to 6.1 bln eur from 5.7 bln.

EBITDA was in line with market expectations, easing to 2.149 bln eur from 2.214 bln.

Mediaset FY net slips to 505 mln eur vs 603, div 0.43 per share, unchanged

MILAN (AFX) - Mediaset SpA said its full-year net profit fell to a preliminary 505.0 mln eur from 603.4 mln a year earlier due to weak advertising revenues in Italy.

Nevertheless, the company said it will maintain its dividend at 0.43 eur per share.

Vivendi’s Maroc Telecom posts 16 pct rise in FY net on strong mobile business

PARIS (AFX) - Vivendi’s Maroc Telecom reported a 16 pct rise in 2006 net profit to a total of 607 mln eur, compared to 523 mln eur a year earlier, with the improvement primarily attributable to robust operating profitability in the mobile business.

Operating profit for the full year came out at 904 mln eur, up 15.5 pct from 793 mln eur in 2005.

Linde FY net after minorities 1.838 bln eur vs 514 mln

FRANKFURT (AFX) - Linde AG said its full-year net profit after minorities, including special items, rose to 1.838 bln eur from 514 mln.

The company said its EBITDA more than doubled to 3.830 bln eur from 1.705 bln.

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Italy’s Prodi wins second confidence vote

ROME (AFX) - Italy’s centre-left government easily won a vote of confidence today in the lower house of parliament, formally ending a political crisis sparked by last week’s resignation of Prime Minister Romano Prodi.

The centre-left prevailed in the Chamber of Deputies by 342 to 253, with two abstentions by far-left members.

Bayer to cut 6,100 jobs worldwide including 1,500 in Germany

FRANKFURT (AFX) - BAYER AG said its Bayer HealthCare AG business is to cut 6,100 jobs worldwide, including 1,500 in Germany, as part of a plan to generate synergies from the integration of Schering AG.

The company said 3,150 jobs are to be shed in Europe; 1,000 in the US; 750 in the Asia, Pacific and Japan region; and 1,200 in Latin America and Canada.

Cegedim to buy Dendrite for $751 million

NEW YORK (AP) - Cegedim SA, a French maker of software for pharmaceutical companies, said Friday it is buying Dendrite International Inc., which provides sales and marketing services for pharmaceutical companies, for about $751 million in cash.

The $16 per share offer represents a 40 percent premium over Bedminster, N.J.-based Dendrite’s average closing share price from Feb. 1 to March 1 and a a 25 percent premium over Thursday’s closing price of $12.79.

EADS unit Airbus could get cash injection from French regional authorities

PARIS (AFX) - The presidents of eight French socialist regional councils yesterday signalled their intention of investing in Airbus’ parent company EADS following the announcement of the Power8 restructuring plan for the ailing aircraft unit.

In a letter addressed to French prime minister Dominique de Villepin, the presidents of eight councils including Midi-Pyrenees, Ile-de-France, and Provence-Cote d’Azur, all of which have a socialist majority, criticised the planned 4,300 French job cuts, and asked for details on how they could take a stake in EADS’ capital.

Aker Kvaerner to restructure operations into five global businesses

OSLO (AFX) - Aker Kvaerner ASA said it is to restructure its business by transforming its existing six divisions into “five global business areas”, in a bid to both increase transparency and optimise the efficiency of its overall operations.

The Norwegian engineering firm said that by combining specialised units which work within the same market segments, the company will be able to increase overall capacity and improve its product offering.

Adecco CFO says 1.5 bln eur earmarked for potential acquisitions

ZURICH (AFX) - Temporary employment group Adecco SA said it has a war chest of 1.5 bln eur for potential acquisitions for the coming years, CFO Dominik de Daniel said at the company’s presentation of fourth-quarter and full-year results.

De Daniel emphatically ruled out the possibility of a capital increase to finance acquisitions.

Bodycote rejects Sulzer’s 325 pence a share offer, says it undervalues co

LONDON (AFX) - The board of UK group Bodycote International PLC has rejected a cash offer of 325 pence per share from Swiss engineering firm Sulzer AG.

Bodycote, which is being advised by Lehman Brothers and Credit Suisse, said it considered Sulzer’s proposal but rejected it because it undervalued the company.

Belgacom FY net rises to forecast-beating 973 mln eur vs 959 mln

BRUSSELS (AFX) - Belgian telecommunications group Belgacom SA posted a forecast-beating full-year net profit of 973 mln eur compared with 959 mln a year earlier as sales climbed to 6.1 bln eur from 5.7 bln.

EBITDA was in line with market expectations, easing to 2.149 bln eur from 2.214 bln.

Mediaset FY net slips to 505 mln eur vs 603, div 0.43 per share, unchanged

MILAN (AFX) - Mediaset SpA said its full-year net profit fell to a preliminary 505.0 mln eur from 603.4 mln a year earlier due to weak advertising revenues in Italy.

Nevertheless, the company said it will maintain its dividend at 0.43 eur per share.

Vivendi’s Maroc Telecom posts 16 pct rise in FY net on strong mobile business

PARIS (AFX) - Vivendi’s Maroc Telecom reported a 16 pct rise in 2006 net profit to a total of 607 mln eur, compared to 523 mln eur a year earlier, with the improvement primarily attributable to robust operating profitability in the mobile business.

Operating profit for the full year came out at 904 mln eur, up 15.5 pct from 793 mln eur in 2005.

Linde FY net after minorities 1.838 bln eur vs 514 mln

FRANKFURT (AFX) - Linde AG said its full-year net profit after minorities, including special items, rose to 1.838 bln eur from 514 mln.

The company said its EBITDA more than doubled to 3.830 bln eur from 1.705 bln.

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Enel says it, Acciona in advanced talks on Endesa bid; no deal yet

MILAN (AFX) - Enel SpA said it and Acciona SA are in advanced talks to make a joint offer for Endesa SA if the bid by E.ON AG for the Spanish energy group fails.

The company said that talks with Acciona are progressing “positively” but no agreement has been reached. Enel added that the operation would only unfold if E.On AG does not obtain 50 pct of Endesa’s capital in public bid currently underway.

Axa to pay 1.15 bln eur for stake in BMPS bancassurance, pensions activities

PARIS (AFX) - Axa said it has agreed a partnership with Banca Monte dei Paschi di Siena SpA (BMPS) covering bancassurance and pensions activities in Italy, and will pay 1.15 bln eur to acquire 50 pct of certain BMPS assets as well as management rights over the insurance and pension assets.

Axa said it will acquire 50 pct of MPS Vita (life insurance), MPS Danni (non-life insurance) and the BMPS pension funds business.

TNK-BP to bid for 9.44 pct of Rosneft

MOSCOW (AFX) - TNK-BP will bid for a 9.44 pct stake in Russian state oil company Rosneft, which is up for sale as part of the auction next Tuesday of assets in bankrupt Yukos, a company spokesman said.

“We are interested in the assets and we expect to participate in the auction,” spokesman Peter Henshaw told Agence France-Presse.

EU stops clock again on probe into Sony/BMG music merger

BRUSSELS (AFX) - The European Commission said it has stopped the clock again on its probe into the merger of Sony Corp and Bertelsmann AG’s recorded music divisions pending further information on the deal from the companies.

“Please note that the commission yesterday sent an Article 11 decision to the parties involved in the Sony/BMG merger for failure to provide requested information,” it said in a press statement.

Mylan, Actavis pull out of race for Merck’s generics unit - report

MUMBAI (AFX) - Mylan Laboratories and Actavis Group have pulled out of the race for Merck KGaA’s generics business, reported the Economic Times.

The remaining contenders now are India’s Torrent Pharmaceuticals Ltd, along with private equity investors Fortress Investment Group and Greater Pacific Capital, and global giant Teva Pharmaceutical Industries.

RWE’s Dutch energy unit to sell gas networks to NRE for 400 mln eur

AMSTERDAM (AFX) - RWE AG unit RWE Energy Nederland NV said it has reached an agreement with NRE, a Dutch gas and electricity distribution company, for the sale of two gas distribution network companies for 400 mln eur in the second quarter of this year.

Ownership of Obragas Net and Netbeheer Haarlemmermeer will be handed over in the second quarter of this year.

Deutsche Telekom, EDS in exclusive talks on tie-up with T-Systems - report

FRANKFURT (AFX) - Deutsche Telekom AG is in exclusive talks with US telecoms service company EDS regarding a possible partnership with the German telecoms giant’s unit T-Systems, Handelsblatt said, citing industry sources.

T-Systems and EDS declined comment to Handelsblatt.

DaimlerChrysler says no ‘imminent’ announcement on Chrysler sale

FRANKFURT (AFX) - DaimlerChrysler AG is not planning an “imminent” announcement on the sale of its US unit Chrysler, a spokesman said, denying earlier market speculation.

“There is nothing new on Chrysler,” the spokesman said today.

Areva eyes US nuclear fuel cycle business in partnership with Japan cos - report

TOKYO (XFN-ASIA) - France’s Areva intends to enter the US nuclear fuel cycle business in partnership with US and Japanese companies, the Nikkei reported, citing Areva’s CEO Anne Lauvergeon.

According to the Nikkei, the US government plans to set up spent-nuclear-fuel reprocessing facilities, with companies likely to be decided through competitive bidding.

BASF’s Wintershall to invest more than 3.5 bln eur by 2010

BERLIN (AFX) - BASF AG’s oil & gas unit Wintershall wants to invest more than 3.5 bln eur by 2010, primarily in Siberia, with about 1 bln eur earmarked for this year, the unit said at its full-year conference.

The company also plans to invest in construction of Baltic Sea pipeline Nord Stream as well as in infrastructure in its German home market.

Wolters Kluwer sells learning ops to Bridgepoint for 750 mln eur - report

AMSTERDAM (AFX) - Wolters Kluwer NV is understood to have agreed to sell its education division to international private equity group Bridgepoint Capital for over 750 mln eur, the Financial Times reported, without citing sources.

A spokesperson for Wolters Kluwer declined to comment.

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LONDON (AFX) - Here are the top stories on AFX News

Airbus confirms 10,000 job cuts, output shifts; seeks partners

PARIS (AFX) - European Aeronautic Defence and Space Co (EADS) unit Airbus confirmed it will cut 10,000 jobs, shift aircraft production lines and seek partners for some facilities that it may sell in the long run.

Announcing details of a long awaited revamp, Airbus said it will have a 680 mln eur provision in the first quarter in connection with the job cuts. A senior official said this means there will be no provision in the full year 2006 results.

Bundesbank chief signals further ECB rate rises

FRANKFURT (AFX) - Bundesbank president Axel Weber signalled that the European Central Bank was

set to further raise its key interest rates, which are already at a five-year high point.

Munich Re posts record FY profit on favourable climatic environment

MUNICH (AFX) - Muenchener Rueckversicherungs AG said full year net profit rose to a record 3.536 bln eur from 2.751 bln a year earlier, exceeding the 3.400 bln forecast by analysts, as the insurance industry was largely spared major losses from natural catastrophes.

The company said it will propose a dividend of 4.50 eur per share for 2006, up from 3.10 in 2005.

Bayer to cut 950 jobs at Bayer Schering Pharma’s Berlin ops

FRANKFURT (AFX) - Bayer AG said it will cut 950 jobs at its Bayer Schering Pharma’s Berlin operations as part of its plan to achieve the previously announced synergy potential of 700 mln eur per year from 2009.

Bayer said that out of the total, 350 staff will take early retirement or other similar packages.

Agfa-Gevaert FY net profit 15.0 mln eur vs net loss 19.3 mln eur

BRUSSELS (AFX) - Belgian imaging technology company Agfa-Gevaert NV posted full-year net profit of 15.0 mln eur, well above analysts’ expectations who had predicted a net loss of 47.6-99.0 mln eur, against a loss of 19.3 mln eur in 2005.

Sales for the full year came in at 3.401 bln eur against 3.308 bln eur in 2005, also outstripping analysts’ expectations at 3.249-3.391 bln eur.

Publicis FY net profit beats consensus on record opg profitability, lower debt

PARIS (AFX) - Publicis Group SA said net profit for 2006 rose 15 pct to 443 mln eur, from 386 mln eur in 2005 and ahead of consensus estimates thanks to record operating profitability and a sharp reduction in net interest and related expenses.

Operating profit for the full year was 713 mln eur, up 10 pct from 649 mln eur a year earlier, and again exceeding consensus estimates.