1:00 PM Frankfurt – Deutsche Telekom agreed to merge its U.S. wireless unit with MetroPCS. Gerresheimer quarterly earnings fell 25%. BG Group agreed to sell majority stake in India-based Gujarat Gas for $470 million. EDF plans to hire 6,000 to payroll.
BG Group plc fell 1.2% to 1,293.50 pence after the British natural gas company agreed to sell a majority interest in India''s Gujarat Gas Company Ltd. to GSPC Distribution Networks Limited, a subsidiary of Gujarat State Petroleum Corporation for 24.6 billion rupees or $470 million.
Deutsche Telekom AG declined 1.7% to €9.58 after the telecommunications provider agreed to combine its T-Mobile USA and MetroPCS. Deutsche Telekom will hold a 74% stake in the combined company and MetroPCS will receive the remaining 26% stake.
Under the agreement, MetroPCS will declare a 1-for-2 reverse stock split and make a cash payment of $1.5 billion to its shareholders. The combined company is expected to have approximately 42.5 million subscribers and $24.8 billion of revenue in 2012.
Electricite de France SA dipped 0.8% to €16.69 after the French electricity producer said it will recruit around 6,000 people in 2013.
Gerresheimer AG dropped 2.5% to €39.71 after the specialty products manufacturer reported third quarter revenue climbed 9.2% to €311.4 million. Net income fell 25% to €14.4 million from €19.2 million last year.
Halfords Group plc soared 13.9% to 303 pence after the automotive products retailer reported second-quarter retail revenues grew 4.3% and revenues from autocentres surged 19.9% from a year ago. Comparable store sales for the quarter from retail increased 4.6%, and autocentres revenues grew 12.4%.
Societe Generale SA rose 1.4% to €22.82 and the French banking group and Greece based Piraeus Bank are in exclusive negotiations regarding the acquisition of Geniki Bank, a 99.1% subsidiary of Societe Generale.
Unilever plc climbed 0.6% to 2,304 pence and the consumer products maker is seeking a buyer for its Skippy peanut butter brand, according to a Bloomberg report.