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STOCKS NEWS EUROPE-Thomson SA down, dilutive debt deal ahead

Tue Jun 16, 2009 4:34am EDT

Stocks

   

Shares in France's Thomson SA (TMS.PA) fall 5 percent after the media technology group wins time to seal a debt-for-equity restructuring and now has waivers until July 24 from creditors.

Oddo Securities says the threat of bankruptcy protection "appears to be receding" but "dilution for shareholders would be masssive."

Thomson is likely to update shareholders on the debt talks at its annual meeting held from 1400 GMT.

Reuters Messaging rm://dominique.vidalon.reuters.com@reuters.net


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