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SCHNEIDER IN TALKS TO SELL STAKE IN JEUMONT-SCHNEIDER TO ROBERT BOSCH

Telecommunications equipment and auto parts maker Robert Bosch GmbH of West Germany is negotiating with Schneider SA of France to buy a major stake in its telecommunications and electrical engineering subsidiary Jeumont-Schneider in a deal thought to be worth around $170m. Jeumont-Schneider, the second largest PABX maker in France with 40% of the French market and annual turnover of some $250m, has been forming joint ventures for some time, one with Plessey Co on co-development and joint marketing of PABX equipment and another with Bosch around two years ago on PABXs. It also put together a bid with Siemens AG in an attempt to buy Compagnie Ge’ne’rale des Constructions Telephoniques, CGCT, the French, formerly state-owned telephone equipment company. Bosch plumping for Jeumont-Schneider is the next in a series of joint ventures and acquisitions in the telecommunications field which are taking place to keep companies competitive on a worldwide basis. Schneider has confirmed that it is now looking for a partner for Jeumont-Schneider.

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