TNT expects to cut 6500-7000 jobs in Dutch mail ops reorganisation AMSTERDAM (AFX) - TNT NV... AFX TOP STORIES Europe 1105 BST.

Submitted by admin on Tue, 2007-04-03 11:00. ::

MILAN (AFX) - AT&T Inc is seeking 'a strong relationship' with Telecom Italia SpA via its plan to take a one third stake in Olimpia SpA, the Pirelli & C SpA unit which owns 18 pct of Telecom Italia, according to AT&T spokesman Michael Coe, cited in the Il Messaggero newspaper.

AT&T's plan to take one third of Olimpia, alongside a similar America Movil's plan, is aimed at sharing technology and best practice with Telecom Italia to create new products together, he said.

MILAN (AFX) - Intesa Sanpaolo SpA and Mediobanca SpA have resumed talks to study possible countermoves to keep Telecom Italia SpA in Italian hands after AT&T and Mexican mobile operator America Movil made offers to purchase 67 pct of Pirelli & C SpA's controlling shareholding in Telecom Italia, daily Il Sole 24 Ore said.

The banks have resumed a plan to spin off and buy the telecommunications operations of Pirelli, but no concrete proposal has been thrashed out yet, while a possible counteroffer appears unlikely, the newspaper added without citing sources.

MILAN (AFX) - Enel SpA is expected to launch its bid with Acciona SA on Endesa SA mid-May and conclude it at the end of the month, a source close to the deal said.

'April 11 was the date on which the outcome of the E.ON bid on Endesa was expected to be announced and so it's logical to conclude that Enel will lodge the prospectus for its bid with the Spanish market regulator on April 12,' the source said.

NEUECHATEL, Switzerland (AFX) - The consumer price index reached 100.2 points in March, up 0.1 pct from February, and was up 0.2 pct from last year, the Swiss Statistics Office said.

Economists' forecasts were calling for a flat to 0.2 pct higher CPI on a monthly basis, while in annual terms, forecasts were between a rise of 0.1-0.3 pct.

ZURICH (AFX) - Swiss Re said its total embedded value increased by 13 pct last year to 22.6 bln sfr, up from 20.1 bln in 2005, boosted by the acquisition of GE's Insurance Solutions (GEIS) business in June 2006.

In parallel, the embedded value of its life & health operations rose 38 pct to 2.4 bln sfr, from 1.7 bln, the Swiss reinsurance group said. Embedded value is an indicator of the value of the existing insurance portfolio.

FRANKFURT (AFX) - The city state of Berlin is delaying due diligence in the sale of a majority stake of Landesbank Berlin until April 16, from a reported plan for April 10, Die Welt reports, citing sources in the financial sector.

LISBON (AFX) - Sonaecom SGPS has already defined the markets where it wants to grow, with broadband and pay TV as priorities, Jornal de Negocios reported citing Sonaecom's chief operating officer Luis Reis.

Reis said that potential targets are Bragatel, TvTel, Oni and the Portuguese unit of Tele2, although he did not confirm that Tele2 has demonstrated any interest in being acquired by Sonaecom, the paper added.

FRANKFURT (AFX) - Deutsche Boerse AG said turnover on both its Xetra trading platform and on its trading floor in March was 253.7 bln eur, representing a 57 pct increase versus the same period last year.

PARIS (AFX) - French retirement home operator Korian said it has agreed to acquire Segesta, Italy's second largest privately owned specialist in care of the elderly.

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