Newspaper wrap-up: Fnac in talks to sell iPhone in France
Posted Mar 4th 2008 8:55AM by Laurie Pasternack
Filed under: Newspapers, Magazines, Apple Inc (AAPL), Citigroup Inc. (C), Wachovia Corp (WB), iPhone
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MAJOR PAPERS:
- The Wall Street Journal's "Heard on the Street" reported that VCG Special Opportunities Master Fund, a $58M asset hedge fund which is owned by an investment firm that also owns a Puerto Rican investment bank, is separately suing Citigroup Incorporated (NYSE: C) and Wachovia Corporation (NYSE: WB) for requiring it to pay money from "credit default swaps" as the value of mortgage backed bonds fell.
OTHER PAPERS:
- In an attempt to cut back its growth plans due to higher fuel costs, AirTran Holdings Inc (NYSE: AAI) CEO Bob Fornaro said the Orlando-based airline will sell two jets next month. The Orlando Sentinel reported that record fuel costs could also impact AirTran's negotiations with its pilots union.
- Fnac is in talks with Apple Inc (NASDAQ: AAPL) to sell the iPhone in France, Le Figaro reported. The head of PPR SA's Fnac Chain, Denis Olivennes, said France Telecom's (NYSE: FTE) exclusivity rights for the iPhone in France are "inadmissible."
WEB SITES:
- Bloomberg reported that the head of Dubai International Capital, Sameer al-Ansari, said that as losses increase from the subprime mortgage market turmoil, Citigroup may need additional capital from outside investors.
Tags: AAI, AAPL, AirTran, AirTran Airways, AirtranAirways, Apple, C, Citigroup, Dubai, Dubai International Capital, DubaiInternationalCapital, Fnac, France Telecom, FranceTelecom, FTE, hedge fund, HedgeFund, iphone, Wachovia, WB
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