I'm not optimistic about this share offering. They have basically offered presents to employees and unions to stop the opposition from getting out of hand - and it hasn't even worked. |
The company didn't better expectations. |
The punishment is fierce and immediate. We've had the beginning of a technology bubble. People get worried as soon as there's any kind of shock. |
The trends on electricity are good and Suez is gaining from its production mix. With a significant part of their production nuclear, they are gaining hugely from the increase in the price of electricity. They're also signing on new clients. All of this has helped results. |
They will be able to improve the price in 2006, but not as much as they want. It's bad news. |
This is in response to the commoditization of the product in a market that faces a very difficult environment. It gives the groups the opportunity to find synergies at a difficult time for the industry. |