Europe Movers: Telef

Arthi Gupta
12 Oct, 2012
New York City

Telef

[R]1:15 PM Frankfurt – Telefónica agreed to sell Atento to Bain Capital for €1 billion. Interserve disposes minority stakes in PFI investments. Volkswagen Group China reported an 18.3% increase in deliveries for the first nine months of 2012.[/R]

Interserve plc surged 3.5% to 383.40 pence after the support services and construction company sold interests in two subsidiaries to the Dalmore Capital Fund for £89.5 million.

Lanxess AG, the chemical holding company slumped 3.3% to €60.88 after a broker downgrade.

RWS Holdings plc dipped 0.1% to 544.25 pence after the patent translations provider estimated at least a 7.7% increase in revenues to £70 million compared to £65 million last year, on a constant currency basis.

Siemens AG fell 1.1% to €76.20 and the German industrial conglomerate said that it intends to focus on cutting costs and simplifying its business under a new savings program.

Telefónica S.A. rose 1% to €10.31 and the telecommunications provider reached an agreement to sell Atento, a call center firm to a leverage buyout group Bain Capital for €1.039 billion or $1.34 billion. The deal is expected to be completed before the year-end.

Travis Perkins plc slumped 3% to 1,101 pence after the building materials said third quarter total sales fell 2.4% annually and comparable store sales per trading day declined 3.5% on the corresponding period of last year.

Volkswagen AG dropped 0.6% to €148.25 and its China unit reported an 18.3% increase in deliveries for the first nine months of 2012.

The group, including its brands AUDI and ŠKODA sold almost 2 million vehicles to customers in China including Hong Kong.