The following has been reported in the newspapers referred to below: 

  • Scan Subsea ASA, a Norwegian-based manufacturer of specialized rope products for the offshore industry, has agreed to a take-over offer from US-based industrial-machinery firm Parker Hannifin Corp. for US$259.8m (WSJE, October 16, 2007, p. 4) 
  • US-based telecommunications company Motorola is expected to take a 50% holding for an undisclosed amount in Swedish-based mobile software developer UIQ Technology AB, which is owned by UK-based telecommunications joint venture Sony Ericsson (WSJE, October 16, 2007, p. 8) 
  • US manufacturer of medical, commercial and aerospace products Teleflex Inc. has stated that it has agreed to sell its units that design and manufacture driver controls, motion systems and fluid-handling systems to Norwegian auto-parts supplier Kongsberg Automotive Holding ASA for US$560m (WSJE, October 16, 2007, p. 8) 
  • The following concentration has been notified to the European Commission: 
    • Continental/Siemens VDO (automotive (electronic and mechanic) components) (OJ C 242, 16 October 2007, p. 3)
  • The following concentrations have been cleared by the European Commission:
    • MBDA/Bayern-Chemie (supply of propulsion systems for tactical military devices) (OJ C 242, 16 October 2007, p. 1) 
    • Egmont/Bonnier (Books) (RAPID, October 16, 2007)


  • France’s competition Council has imposed a €45m fine on French telecommunications company France Telecom for abusing its dominant position in the country’s wholesale broadband market in 2001 and 2002 (FT, October 16, 2007, p. 21; WSJE, October 16, 2007, p. 8) 
  • Following the approval, early September 2007, of the Gaz de France/SUEZ merger project by the respective Boards of Directors, both groups, on 15 October 2007, announced the new Group’s operational and financial objectives, corporate governance and timetable of the merger project (FT, October 16, 2007, p. 14, 15) 
  • Swiss and UK-based hedge fund Gottex Fund Management is reportedly planning to float US$1.75bn-US$2bn in Switzerland in a move revealing interest to cash in on the increasing demand for alternative assets (FT, October 16, 2007, p. 30)