Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Phone Talks

LONDON -- German telecom and engineering group Mannesmann AG is not expecting talks with Vivendi - aimed at boosting its presence in France - to yield an agreement in the immediate future.

"[Mannesmann CEO] Klaus Esser would love to increase his presence in France but not at any cost. You have to have two sides to any agreement. We are in the same situation we were in with Orange, where we would like to do something, but nothing is imminent," a Mannesmann source said Tuesday. Mannesmann was in talks with British cell-phone group Orange for over a year before a takeover deal was eventually struck late last year.