telecom, bouygues up by 4.5%. what will be doing. we know that iliad, the for the biggest player, the new kid on the block that started a bidding war might be looking to buy the telecom unit of bouygues. a big disparity of what they want to pay. bouygues wants up to 8 billion and iliad says five point 5 billion. -- $5 billion. one of the biggest players in china, amazing amount they have over there. 118 million subscribers they have over there. -endntract for a very high sim card. it's about paying for your coffee and metro with your phone. china is getting into that. bank of ireland is down. why? cashing in. he is looking to offload close to 500 million euros worth of shares of bank of ireland for sale. >> thank you very much. caroline hyde. the market action. the perspective on what we need to do, francesca. good morning to you. good to see you. equities are up. the european curb nailed. look at the rates. what is catching your eye right now? >> i think inflation. inflation a europe is falling. >> we have inflation? >> for now. the

in recent weeks, iliad made a informal offered to buy bouygues .lions short of what they are demanding. in the past few minutes, gazprom said they are not moving the deadline. even as talks have yielded progress between russia and ukraine. ofv saturday reached a deal the priorities for de-escalation in eastern ukraine. italy's prime minister is in asia to promote a italian businesses and boost investment. matteo renzi has visited factories in vietnam before going to china. in a few hours, he meet members of the committee and shanghai. he will be hosted by china's premier and president. >> more of the story from hong kong. our reporter is a following it. it is renzi's first international trip. how significant is it for him? it's prettyhink significant for help. he became prime minister through turmoil and maneuvering. to stand on the world stage and gives him a bit more legitimacy. he is coming off of a substantial victory and the european alimentary elections. he was not elected. you try to boost his prestige. he is looking for italy. he will be on

withare trying to merge bouygues. bouygues thinks they are worth a lot more. byits money telecom. it has construction, road building. this is what the family is focused on. think their unit is worth about 8 billion euros on the top side. they are offering up to 5 billion euros. analysts agree with iliad. it is a 3 billion euro gap. they all tend to think that only worth about 5 billion euros. there is a disparity. they are stalling in terms of talks. if you drill into the numbers, it is fascinating. greek telecom is 70% of the company -- 17% of the company revenue. there is a discount because of all the other businesses. stand on.valued to >> exactly. why they areting looking at the telecom. it is about consolidation. iliad is sparking a price war when it came into the market in 2012. vivendi looking to spend off that unit. iliad had been looking at picking up some of the assets because regulators were unlikely to allow bouygues to buy fsr. >> it would be number two and number three. >> it is a very confusing store. number three and four more likely to get the

france between alstom, the thech state, and bouygues, main shareholder of alstom with 29%. board deciding's that they would approve ge's revised offer. that came after the french state said that they would also back ge on the condition that they take a 20% stake in alstom. that is when it became complicated. s and the french state could not agree on a price. they tried to come to a compromise. stake in 20king the months. this morning, the economy that no priceying has been fixed yet and bouygues still wants 35 euros per share when the government offered 28 euros per share. minister is also saying that the state determination was in the interest of france. reaction.ve some on a conference call this morning, he said that thanks to the cash injection from ge, could's transport unit see some acquisition. he is also saying that the deal with ge is positive for the company and tomorrow, the ceo of alstom and the ceo of ge are both going to the east of france together. that is an important part of alstom's business in france. it is an historical factory and it is also where ge mak

there is no fixed price according to the economy minister will stop bouygues wants 35 euros a share. 28 euros affered share. however, the economy minister said it was a good thing for alstom. and we talked to the former french prime minister about alstom and here's what he said. >> it is a good chance for france and a good choice for the company. i think very high in the agenda was the question of jobs and this has been quite well taking into account. that decision capacity and france and that is a good decision. we also got some reaction from the ceo of alstom this morning. in a conference call, he said that thanks to ge and the transport business will probably be seeking acquisitions already. wasceo also said the deal -- [indiscernible] and the french taking a stake was a good thing. and theceo of alstom ceo of ge will go to the east of they havere third-biggest factory and also where ge has a factory making ga s. >> thank you. eu summit as said to be a tense one where politicians have been lining up behind jean-claude juncker. much to the dismay of cameron who was standing in his

it's going to buy it from bouygues. the alliance was very important. occasions that the government would support an alliance, rather than a straight takeover of alstom, and that's actually the reason why ge modified its original bid last week, and this bid has been approved over the weekend by the board of alstom. the french, as you say, the french government took a 20% stake. at what price? that's the question. bouygues wanted at least a 35 euros per share, but the government wanted to offer 28 euros. that was the closing price on friday. at the end of the day, we got a kind of mixed deal. the government will have 20 months to actually buy this take from bouygues. and in the meantime, bouygues will lend that stake to the french government. now, what does it tell us in terms of french capitalism? because it seems to be very difficult to do some business in france when you are an international investors. according to an analyst we spoke to this morning, it is perfectly acceptable to have the french state involved in that operation, given that we are tal

. >> the siemens bid also seems to rely on bouygues, also a shareholder in alstom.hey said yesterday they do not want to sell. how much traction do you think this siemens offer can get if one of the key players, albeit on the sideline, might not label? -- might not play ball? >> siemens has no leverage to win this bid. es, with its shareholders, alstom is not ready to sell shares to mitsubishi. i do not see how siemens and when -- can win. the only thing we can see is that there will be some talks in the next days. at the end of the day, ge will win. will comethink ge back with a revised offer as a result of this? x yes. -- >> yes. ge might improve its offer. they might announce, in the coming days, some partnership with a french money -- a french company. that would be something that might help the government to support ge's bid. >> thank you for joining us today. >> thank you very much. >> china's premier has begun his three-day visit to britain. joining us to take a look at what this means is manus cranny. the trip marks a positive set of relationships between ch

bouygues has been cut by tesco.ceo said, since he has been in the company, the shares were up as much as 2.5%. thestors are settling into reality that those results, even though they were not quite as bad as investors thought they were going to be, are a little bit better than anticipated. this is obviously a tough period for tesco. more tesco later this morning. get to the top headlines. the top industrial powers meet in brussels. they will discuss additional sanctions against russia. ukraine said yesterday it deployed heavy weapons and armored vehicles to the eastern border with russia. thousands of songbird investor protesters gathered. hundreds were killed 25 years ago. and mario draghi is likely to signal that any interest rate cut won't necessarily be the last. hisill probably reiterate commitment to low borrowing costs and policymakers are debating a cut in both the benchmark and the deposit rate which will go negative. the decision tomorrow. let's stay with the central bank fame. coming out of the bank of en

bouygues is not going to sell, we will have to ues what the ceo of bouygy will have to say when he testifiese joining us from .aris the french talking about the train company essentially going to the americans or the germans or whatever, maybe that will not happen. a french train strike on. they want trains, they don't want to use them. >> french airport strike coming up as well. ge likely to up the deal, they don't want the rail unit. nice trains. down withs sat caroline had to talk about the impact of the internet of things. of all of these applications, it is going to be a small chip with a processor, a sensor. tomach,cow's s monitoring ph levels to work out whether it is healthy. connected to that is wireless connectivity to remotely monitor. these are the key ingredients -- a sensor, processor, and wireless connectivity. that can be deployed in all sorts of places -- cow stomachs, parking places, subway trains. goingn work out what is on inside your stomach or are you taking your medication properly. hundreds of applications. >> is there concern about , privacy, is that something you ha

the --ent, particularly elliott all the stocks are rising at the moment, particularly illiad and bouyguese to the stage, their annual address to the banking industry at mansion house. how will the answer to the fact that the u.k. economy is turning around jacob driving the pound p i .25%, one dollar 68 -- driving the pound up by .25%. 1.6829. pressure on mark carney. implemented a yesterday, %tandout figures 6.6 unemployment rate. the lowest we have seen in more than five years. good seeing a bo view on the bridge pound and the new zealand dollar trading up 1.4%, the strongest and more than four months. why? interest rate hikes. time, it isutes' surveillance with tom keene. good morning. going on. we go to peter cook in washington to talk about eric huge news. across america, see the house majority leader loses in a primary. day two follow on about who will replace eric cantor. iraq is front and center. i saw prime minister cameron's comments overnight. what to do to assist baghdad with the militants. only 60 miles him a 70 miles outside active. oil higher. neil will join us from renaissa

finally, bouygues, down 3%, saying the stock is a reduce, previously a hold.ng more challenges, including a struggling public works environment in france. switch over to bond rates, treasury yields of course we saw last thursday down at this 11-month low at 2.42%. yesterday during the session, a three-week high. the yield is back down to 2.57. we're looking ahead to adp numbers. we got the strong nonfarm payroll report. will the same happen today? adp will be a sentiment shift of an outlier number. on the currency markets, we showed you where the euro/dollar is trading, just above 1.36. dollar/yen, strong at 102.61. sri is with us out of singapore. >> very good morning to you, ross. as you pointed out, the u.s. markets took a bit of a wobble overnight. sentiment on this side of the world in our region is weaker as well. but we're not seeing wholesale capitulation by that token. losses seem to be capped just under 1%. if you look at the greater china markets and the s&p/asx 200. two-week lows you're looking at here despite the fact that we did see better-than-e