French Industry Min: Sovereign Fund FSI May Buy Stake In Technicolor
May 02 2012 - 12:58PM
Dow Jones News
French sovereign fund Fonds Strategique d'Investissement, or
FSI, together with another investor, might buy a stake in
Technicolor SA (TCH.FR), a troubled cinema production services
provider and manufacturer of TV set-top boxes, said Industry
Minister Eric Besson Wednesday in a statement.
Earlier Wednesday, Technicolor asked the stock market to suspend
the trading of its shares after it received a proposal from an
unidentified international institutional investor to take a
minority stake in the company.
FSI began evaluating the possibility of taking a minority stake
in Technicolor last week to assure the stability of the company's
shareholder structure and to ensure the French state is included in
decisions made about the company's future.
Technicolor's business suffered when tariffs on TV set-top boxes
were lifted in early 2012 and a contract with France Telecom SA
(FTE.FR) was cancelled, Besson said.
He added that France Telecom will support investors who are
eager to invest in Technicolor.
-By Inti Landauro, Dow Jones Newswires; +33 1 4017 1740;
inti.landauro@dowjones.com
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