CGG SA CGG:FP EN PARIS
4.75EUR. 1.09. 29.78%
Any news?
6 replies (most recent on top)
Who is running the company now the banks and creditors have control of the company ? Has the board been disbanded ? What about comex ? any changes at all ???
The restructuring leaves the company in the hands of the creditors - the banks or their proxies. It’s equivalent to defaulting on your mortgage and handing the keys to the mortgage company. But mortgage companies and banks aren’t in the business of owning houses, or companies. So what are they going to do? Sell of what assets they can, and (given the location of the lenders and the tradition of state support) shrink back to France. At the most, they will maintain small operations elsewhere just to fly the flag.
The most likely outcome in my opinion.
Volatility is a normal behavior of penny stocks. One day is up and the next day is down. It is created by stocks bargain hunters to make quick money. Those who caused the stock to go up yesterday they dumped them today to collect their profit.
"Insanity is doing the same thing over and over again and expecting different results." Albert Einstein.
What about jobs outside France?????
Bpi (9% capital 10% voting rights) is going to vote in favor to protect French jobs and "roots" and kick the can down the road...