Reuters: Hot Stocks: France Tel shares up on relief probe not to unseat CEO

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

France Tel shares up on relief probe not to unseat CEO Jun 17th 2013, 10:16 By Leila Abboud and Alexandre Boksenbaum-Granier PARIS, June 17 | Mon Jun 17, 2013 6:16am EDT PARIS, June 17 (Reuters) - Shares in France Telecom jumped on Monday after President Francois Hollande backed Chief Executive Stephane Richard to keep his job despite being put under investigation for fraud during his time as a top government aide. France Telecom, which is 27 percent owned by the state, climbed 4.2 percent to be the biggest gainer on France's blue-chip CAC 40 index, amid a broader rally in European telecom stocks that were up 2 percent at 0952 GMT. Investors were relieved that Europe's fourth-biggest telecom group by sales would not face a leadership vacuum as business in its key home market gets slammed by an 18-month old price war sparked by the arrival of a low-cost mobile competitor. "If Richard had been forced out, the group could have suffered during a transition phase to a new boss," said a Paris-based trader who declined to be named. (Editing by David Holmes)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions