Veolia: pass the flannel
- From: Vol 4, Issue 10 (October 2003)
- Category: Analysis
- Region: Unspecified
- Country: France
- Related Companies: American Water Works, Bayer, Bechtel, Berlinwasser, California Water Service Co (Cal Water), Credit Suisse First Boston, Deloitte & Touche, ECO Resources, Eurawasser, Gelsenwasser, General Electric/Osmonics, International Water (IWL), Kellogg Brown & Root, KPMG, Lahmeyer International, Middlesex Water, Mitsui & Co., Moody’s, Northumbrian Water, Ondeo, PricewaterhouseCoopers, Royal Bank of Scotland, RWE, Saudi British Bank, Saur, Schwab Capital Markets, Severn Trent Water, Société Générale, South East Water, Southern Water, Standard & Poor’s, Suez, Thames Water, United Utilities and Veolia
The French giant’s capital-lite strategy is disingenuous.
So the market says that Veolia has a strategy but Suez doesn’t. Veolia is a pure play environmental services company that operates assets but does not own them. Suez is an energy and environmental services company which does not seem to have many plans beyond its debt reduction programme. Veolia’s share price is going up, but Suez’s ...
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