Arun Sarin may adopted the inverse method

In General, it begins with doing the household with a vacuum cleaner and it fignolé with a duster. Arun Sarin may adopted the inverse method. With the exception of thunderstrike leaving the Japan, Vodafone appears to dust its minority interests in Western Europe. After having transferred its 25 in the Belgian Proximus, he just get an unexpected price for its 25 in Swisscom Mobile. The Group's strategy is to develop emerging markets of Europe and East Asia, to focus on its majority carrier in the United Kingdom, Germany, Italy and Spain, finally to retain its 45 in the U.S. jewel Verizon. Force turn around the Hexagon, one might therefore ask if Sarin will not end up deciding to dispose of the record SFR. Now that Vivendi is serviced and the Group has shown that a sale by apartments was unlikely, Vodafone has virtually no chance to conquer the majority of SFR. Vivendi is on the other hand, such as Swisscom, willing to climb to 100, only way for him to boost the contribution of its main subsidiary, established a now mature market. And, as Vodafone has Belgium and Switzerland, this assignment, in excellent financial conditions for him, could be accompanied by a partnership agreement in the long term of SFR with its network. With the key a cheque to the order of EUR 9 billion which would reduce its debt of a third party.

Trafalgar and Waterloo

Each method. Since December 2004, the London Stock Exchange proclaiming, according to British financial tradition, that is open to any proposal of acquisition, provided that the purchaser is put the price. During the same period, Euronext asserted its independence and arise in epicenter of a European grouping student alliances with London or Frankfurt. Two years later, the LSE is always independent but Euronext jumped into the arms of the New York Stock Exchange for better and for worse. Having spurned successively German, French, Australian and American contenders, Clara Furse has found a final boot to contain the yankee invaders who is invited to 29 in its capital. The London Stock Exchange is indeed constantly to increase its profits and review increased its forecast of result. So, even improved, the final offer of the Nasdaq, but 2.5 times higher than the first proposal of Deutsche Börse, does capitalize only 24.7 times the profit expected for 2006-2007. A level seemingly modest although the LSE may be eaten his white bread to the rise of new competitors. In any case State, London is still at the stage of Trafalgar when rather, the Pan-European stock market suffered its Waterloo.

Oracle takes the pace

It does not earn quarterly. Wall Street has been the fine mouth before the last digits of Oracle. Sales new a little less quick licenses disrupt a euphoric sequence of four quarters for the champion of database and management software. Shift of the market or simple shift of the decisions of clients, difficult to decide immediately. In the meantime, forced market external growth strategy led by Larry Ellison, the founder and President of Oracle, is no longer in issue. After 26 acquisitions over two years for at least $ 20 billion, the group displays a remarkable operational control, with margins of 30 and a cash flow free if abundant (1.5 billion per month) that it reconstitutes reserves faster that it is investing in new purchases. After a long period of doubt, scholars have used the title, which won more than 40 a year and whose capitalization crossed the 100 billion dollars in November, exceeding new significantly than the great German rival SAP. Less than 20 times the benefits for the current fiscal year, against 26 for SAP, Oracle remains at a reasonable price. Especially for a group whose earnings per share increased more than 20 per year for two years and a half and plans to maintain the pace as long.