Will Orascom, the growing Egyptian mobile telephone operator, take over Bouygues Télécom, the third biggest operator in France?  Bouygues Télécom provides most of the free cash flow available to its parent, Bouygues, the giant construction company.

Will Vallourec, the steel tubes manufacturer whose shares have increased by nearly 50% over the past couple of months, thanks to its involvement in the petroleum industry, be taken over by Arcelor-Mittal, by Gazprom or the Russian billionaire Roman Abramovitch?  The President of Vallourec, Pierre Verluca, seems to have a "never say no" strategy while playing his cards close to his chest and saying that Vallourec can continue to function perfectly well as a standalone operator.  He has said that Vallourec can also be a predator, with up to one billion euros available to purchase the company that provides the right fit.

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