Chinese acquisition

Hearing more and more chatter about this. Possibly explains the observations in the prior post (lots of connection points between industry and government in Beijing).

Premise is the Chinese are assembling one-stop shops for oil & gas exploration and development. CNPC already own BGP, the largest seismic acquisition/imaging company - now rumors that Sinopec are looking to pick up Western Geco, and lots of speculation about GE selling Baker Hughes to the highest Chinese bidder.

How great would it be to have CGG become part of CNPC or Sinopec? Duo shao qian?

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Whatever the rumours - who ever posted an announcement end of July can't be too far off. With liquidity at $538m its a nice bunch of cash to have end of Q1. But does that include the ring-fenced $250m that has to be reserved for interest payments on the varous bonds & junk bonds? - it probably does. CGG could be very low on cash around end of July - somethings got to give - can't go back to the bond markets with the same old story that raised the $500m just the other day. Apart from selling all of CGG or bits of it I'm fresh out of ideas... anyone help out? - yours truly, CGG CEO.

Expect an announcement at the end of July.

Chinese company won't buy this heavy debt company.

This rumor is an old rumor. Houston office promotes their own modules with political correct interpretation for future independence Day, meanwhile, let go cgg employees then 'usi' employees take the place.

Ah, the old 'Bought by the Chinese rumor'...where have you been old friend? Haven't heard from you in a while. Will you be staying this time, or vanishing into the mist as you usually do?

I have heard similar.

Thread regarding CGG Veritas layoffs

Chinese acquisition

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