Bordeaux Water Squeeze May Be End Of Era For Veolia, Suez
Bordeaux Water Squeeze May Be End Of Era For Veolia, Suez
Jul 31, 2012 6
(Bloomberg) - Bordeaux, the French city known for $3,000 bottles of wine, is obsessed with the price of tap water.
Municipal plans to lower household bills and take control of Bordeaux’s water and waste treatment facilities will shrink domestic profits that are already declining for Veolia Environnement SA (VIE) and Suez Environnement (SEV), the world’s biggest water companies. Dimmer prospects in the 5 billion-euro ($6.13 billion) French market signal the end of an era that gave the Paris-based utilities the financial muscle to expand abroad.
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