PARIS (Thomson Financial) - French seismic explorer CGG Veritas said it is
to sell its 12.7 pct stake in Norwegian peer Eastern Echo Holding to US-based
Schlumberger. The stake is worth about 58 mln eur, CGG Veritas said.
The French company announced the acquisition of the stake last week in the
midst of Schlumberger's takeover offer for Eastern Echo.
Schlumberger then said last Friday it had raised its offer to 15 nkr a
share, up from 12 nkr previously, and had upped its stake to 55.6 pct of
Eastern's equity, compared to 41 pct as of last Tuesday.
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