Orange, Bouygues, Iliad-owned Free exploring carve-up of Patrick Drahi's SFR, FT reports
The deal could see the group being led by Bouygues or Iliad with rival SFR's assets being split between the companies, FT said, citing people familiar with the matter.
Reuters could not immediately verify the report.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
23 minutes ago
- Reuters
Japan's Nikkei surges to one-year peak, bonds slide on US trade deal
TOKYO, July 23 (Reuters) - Japanese automakers led a surge in the Nikkei share average to a one-year peak on Wednesday, while bonds slid after Tokyo reached a trade deal with Washington, ending a months-long stalemate. The Nikkei (.N225), opens new tab rallied as much as 3.3% to 41,070.91, its highest since July last year. The Tokyo Stock Exchange's transport equipment index (.ITEQP.T), opens new tab soared 10.3%, with Toyota Motor (7203.T), opens new tab surging more than 13%. The trade deal reduced economic uncertainty, bolstering the case for the Bank of Japan to resume raising interest rates. Traders sold Japanese government bonds, pushing two-year yields up by 7 basis points (bps) to 0.82%, the highest since April 2, when U.S. President Donald Trump shocked markets with his aggressive "Liberation Day" tariff announcement. Markets largely shrugged off a media report that Japanese Prime Minister Shigeru Ishiba would step down by the end of August. Ishiba is facing growing opposition from within his Liberal Democratic Party for his vow to stay in power despite the ruling coalition's defeat in Sunday's upper house election. The yen was last down about 0.2% at 146.96 per dollar . Trump said on Tuesday the U.S. and Japan had struck a trade deal that includes a 15% tariff that will be levied on U.S. imports from the Asian country, down from a threatened tariff of 25%. Industry and government officials briefed on the agreement said the deal also lowers the tariff to 15% from 25% on Japanese autos, which account for more than a quarter of the country's exports to the U.S. "It is commendable that the 25% baseline tariff was avoided," said Norihiro Yamaguchi, senior Japan economist at Oxford Economics in Tokyo. "Lowered uncertainty will be welcomed in the equity market." Bank shares gained, sending the TSE's banking index (.IBNKS.T), opens new tab up 4.5%. The 10-year JGB yield jumped 9.5 bps to 1.595%, matching last week's 17-year high. Ten-year Japanese government bond futures tumbled as much as 1.04 yen to 137.56 yen, their lowest since March 28. Deputy BOJ Governor Shinichi Uchida said the central bank needs to focus on downside risks to the economy. His comments came ahead of a BOJ policy meeting next Wednesday and Thursday. "I don't think this (trade deal) alone will lead to a Bank of Japan rate hike next week, but the possibility of a rate hike between September and October has increased," said SMBC chief currency strategist Hirofumi Suzuki. "This will create pressure to buy the yen."
Reuters
23 minutes ago
- Reuters
South Korea to scrutinise US-Japan trade deal as officials fly to Washington
SEOUL, July 23 (Reuters) - Seoul will take a close look at the terms of a U.S.-Japan trade deal, South Korea's industry minister said on Wednesday, holding out the prospect of greater cooperation in the energy and industrial sectors ahead of key trade talks in Washington. Japan competes with South Korea in areas such as autos and steel, so Tokyo's trade deal will pile pressure on Seoul to reach a similar level of 15%, or better, by an August 1 deadline to avert reciprocal U.S. tariffs of 25%. The new finance ministry and the top trade envoy of Asia's fourth-biggest economy are set for high-level trade talks with U.S. counterparts in Washington on Friday. "Investors see the Japan-U.S. deal as a benchmark for the Korean deal," said Kim Sung-rae, an analyst at Hanwha Investment & Securities, adding, "The deal would put pressure on Korean negotiators to come up with a similar, or better, deal." South Korea's benchmark KOSPI (.KS11), opens new tab index edged down 0.3% on Wednesday, but shares in automakers and suppliers rallied after the Japan-U.S. deal. Hyundai Motor ( opens new tab rose 6.8% and Kia ( opens new tab jumped 6.4%. New President Lee Jae Myung has said Seoul wanted to avoid a comparative disadvantage with other countries in trade deals. "It will be difficult for South Korea to have U.S. tariff rates lower than 15% on Japan and 10% on Britain," said Kim Yong-jin, a management professor at Sogang University. Seoul needed to import more farm goods and energy, as well as boost investments, as Japan had done to reach a similar outcome, he added. South Korea will exclude the opening-up of its rice and beef markets as a bargaining chip in the Washington talks, instead considering more U.S. imports of crops for fuel, such as corn for bioethanol, the Yonhap News Agency said. "We will make an all-out effort to produce a positive sum result that will allow Korea-U.S. industrial and energy cooperation to be upgraded to the next level," Industry Minister Kim Jung-kwan said in a statement. Since the result could have a significant economic impact, South Korea would respond thoroughly while closely considering the sensitivity of its industry, he added. He will meet U.S. Commerce Secretary Howard Lutnick and Energy Secretary Chris Wright, among others, he told reporters before boarding a plane to Washington for the talks. In a post on Truth Social, U.S. President Donald Trump said Japan would boost market access for American producers of cars, trucks, rice and certain agricultural products, among others. The deal's tariff of 15% on all Japanese imports is down from a proposed 25%, with Trump adding that it would include $550 billion of Japanese investments in the United States. Last week, South Korea's Chosun Ilbo newspaper said the United States had asked Seoul in talks this month to set up a large-scale investment fund to support the reconstruction of its manufacturing industry, without identifying a clear source.
Reuters
23 minutes ago
- Reuters
Shares in Japanese, South Korean automakers surge on Tokyo trade deal
TOKYO/SEOUL, July 23 (Reuters) - Shares of Japanese and South Korean automakers surged on Wednesday after U.S. President Donald Trump announced a trade deal with Tokyo that sources said would include reducing a tariff on Japanese auto imports to 15%, a move that stoked optimism about a similar deal for Seoul. Shares of Toyota (7203.T), opens new tab, the world's top automaker by sales, jumped 13% while rival Honda (7267.T), opens new tab advanced more than 9%. The lower tariff - from 25% previously - would ease the pain for Japan's most important industry in its most crucial market. South Korean automakers gained on hopes Seoul would clinch a similar deal. Both Hyundai Motor ( opens new tab and Kia ( opens new tab rose more than 6%. The agreement with Japan, the world's fourth-largest economy and a pivotal U.S. ally in Asia, is by far the most significant among several trade deals struck by the White House ahead of an August 1 deadline when higher levies are due to kick in. While Trump did not give details on the auto portion of the deal in a post on his Truth Social platform, industry and government officials briefed on the agreement said it lowers the tariff to 15% from 25% on autos, which account for more than a quarter of Japan's exports to the U.S. Still, it is unlikely to be all smooth sailing for Asian automakers. So far, tariffs from Canada and Mexico remain in place at 25%. Mexico in particular is a key production hub for Japanese automakers, including Nissan (7201.T), opens new tab, and also home to a Kia ( opens new tab factory. Nissan shares were up almost 9%. News of Japan's trade deal is also likely to pile pressure on Seoul to come up with its own agreement ahead of the August 1 deadline. Seoul is taking a close look at the U.S.-Japan deal, South Korea's industry minister said. South Korea is a major competitor of Japan in areas such as autos and steel. It heads into high-level trade with the United States on Friday. For both Japan and South Korea, the auto industry provides major exports, millions of manufacturing jobs and is a deep source of national pride. Even with tariffs, the U.S. remains by far the most important market for Toyota, Hyundai, Honda, Nissan and others. At Toyota and Hyundai alone, North America accounts for at least 40% of the revenue, filings show. The U.S. is Toyota's biggest market in terms of vehicles. It sold 2.3 million vehicles there in 2024, including its Lexus brand, accounting for more than a fifth of its global total. As a source of revenue, North America was second only to Japan in the last financial year. Meanwhile, Hyundai's North American revenue was the highest in almost a decade last year.
