P.M. BRIEFING : Large French Merger Expected

From Times Wire Services

French construction group Dumez and water distributor Lyonnaise des Eaux were expected to announce one of the largest French mergers late today, financial sources close to the negotiations said.

The new group, which would cover civil engineering and water distribution activities, would have combined turnover of about $9 billion, with a market value of about $4.8 billion, the sources said.

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