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By Gianluca Lo Nostro and Mathieu Rosemain (Reuters) -Altice France, the owner telecoms firm SFR, has rejected a bid from three French rivals to buy the operator, Altice CEO Arthur Dreyfuss told staff in a memo on Wednesday, setting back a potential deal that could spur more consolidation in the European telecoms market. Bouygues Telecom, Iliad's Free and Orange said late on Tuesday they had submitted a 17-billion-euro ($19.8 billion) non-binding offer to buy most of Altice France's assets, valuing the company at 21 billion euros. The joint bid spurred hopes for more sector consolidation in Europe on Wednesday, with stocks rising in Paris despite the French government saying it would be vigilant about the deal. "We confirm that we received an indicative offer last night for part of Altice France's assets. This offer has been immediately rejected," said Dreyfuss in a memo to employees seen by Reuters. Bouygues and Orange said they had taken note of Altice's decision to reject the offer. Iliad did not respond to Reuters' requests for comment. J.P. Morgan analysts said in a research note that the 17-billion-euro offer was better than expected, as they had previously estimated a standalone value of 16 billion euros, with synergies underpinning a price tag above 20 billion euros. A source with knowledge of the matter told Reuters in September that anything below that range would be unacceptable for SFR. Earlier on Wednesday, French Finance Minister Roland Lescure said he was going to be "extremely vigilant" about the deal. "I'm going to be vigilant about two things: the impact on consumer prices and the impact on the quality of service," Lescure said in an interview on French radio RTL. "There's a competition authority; it's independent. It's there to protect consumers, and it will do so," he said. The French government is the largest investor in Orange. BID SPURS EUROPEAN CONSOLIDATION HOPES Shares of Bouygues, which had touched their highest price in more than seven years earlier in the session, slightly pared gains after Altice's rejection to trade 8% higher by 0925 GMT. Orange's shares were up 3%. Other French stocks were also up, with the country's benchmark CAC 40 index gaining over 2%. Italian peer Telecom Italia's shares meanwhile rose 2.4%. SFR is France's second-largest telecoms provider with more than 19 million mobile subscribers and 6.1 million fibre customers as of June. France has had four mobile network operators since 2012: Orange, Bouygues, Iliad’s Free, and SFR. Any deal to reduce the number of carriers to three would have to get approval from European or French regulators. GETTING REGULATORS ON BOARD The European Commission approved a 4-to-3 merger in Spain last year, but requested from MasMovil and Orange a package of remedies to create the 18-billion-euro MasOrange operator. French antitrust agency chief Benoit Coeure said in an interview with daily Les Echos in July that if a deal involving SFR was presented to the regulator, it would examine it without prejudice, but without ignoring difficulties either. A deal might also trigger consolidation in other markets, with Iliad deciding for a sale of its operations in Italy, said analyst Giorgio Tavolini from Italian brokerage firm Intermonte. "It would make sense for the group to leave Italy – where it does not generate cash, once spectrum costs are considered, to focus its resources on the French market," he said in a daily report. ($1 = 0.8593 euros) (Reporting by Gianluca Lo Nostro in Gdansk, Elvira Pollina in Milan, Mathieu Rosemain in Paris, additional reporting by Alessandro Parodi in Paris; Editing by Dominique Patton and Milla Nissi-Prussak)

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BEIJING (Reuters) -Apple will increase investment in China, the company's Chief Executive Tim Cook said during a meeting with the country's industry minister in Beijing on Wednesday, according to an official summary of their exchange. Many U.S. companies have become cautious about relations with China as the world's two biggest economies have clashed over trade tariffs and as U.S. President Donald Trump seeks to promote manufacture in the United States rather than elsewhere. But Cook told China's industry minister Li Lecheng the iPhone maker will keep investing in China, the Chinese ministry said, although the summary gave no details of the size of the projected investment. Apple did not immediately respond to a Reuters' request for comment.  The tech giant, which has also made investment pledges to Washington, has so far managed to be relatively unscathed by the trade war between the United States and China. Other companies, such as Nvidia and Qualcomm have found themselves the target of Chinese investigations. Washington has long placed sanctions on Chinese companies such as Huawei. BALANCING ACT A Shanghai-based government affairs consultant, who requested anonymity because he was not authorised to speak with media, said U.S. companies are wary of angering a White House that could hurt them at home in the world's biggest consumer market for appearing too pro-China. At the same time, they are seeking to avoid appearing insincere in Beijing where they have pledged to be "in China, for China," he added. Cook in August presented Trump with a custom U.S.-made plaque mounted on a 24-carat gold stand commemorating Apple's "American Manufacturing Program," after saying it would invest an additional $100 billion in domestic manufacturing. When Cook visited China in March, Apple made public its plans for a new clean energy fund there worth 720 million yuan ($101 million). Meanwhile, Apple, which relies on suppliers and factories in China where most of its iPhones are assembled, has been trying to shift some manufacturing capacity to India. Apple's COO Sabih Khan on Tuesday visited Lens Technology, a Chinese glass supplier for Apple, the Changsha-based company said in a statement on Wednesday. Lens Technology produces glass covers for Apple products including the iPhone and Apple Watch and has been a partner for 19 years, it said. China hopes Apple will continue to explore the Chinese market and grow together with Chinese suppliers, the industry minister, Li Lecheng, who is also in charge of infotech, told Cook, adding that China would continue to foster a good business environment for foreign companies, including Apple. 'CHOOSING CHINA' Apple's shipments in China grew 0.6% from a year earlier to 10.8 million units in the third quarter against the backdrop of sluggish demand in China's smartphone market, according to data research firm IDC on Wednesday. Boosted by the iPhone 17 series, it was the only brand among China's three biggest vendors to achieve growth in shipments during the period. As part of his visit to China this week, Cook visited Apple's store in Shanghai and met Chinese game developers and the designer of the popular Labubu dolls, he said in posts on China's X-like Weibo. On Monday, he said the iPhone Air would be available for pre-order in China after the industry ministry cleared the way for major telecom operators to support its eSIM functionality. "The business community has always been a stabiliser of China-U.S. relations and a promoter of pragmatic cooperation," China's ambassador to the U.S., Xie Feng, said during an event in Washington on Tuesday. Many U.S. companies have "chosen China" and are benefiting both countries, Xie added. ($1=7.1258 Chinese yuan renminbi) (Reporting by Xiuhao Chen and Joe Cash; Editing by Tom Hogue, Clarence Fernandez and Barbara Lewis)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

BEIJING (Reuters) -Apple will increase investment in China, the company's Chief Executive Tim Cook said during a meeting with the country's industry minister in Beijing on Wednesday, according to an official summary of their exchange. Many U.S. companies have become cautious about relations with China as the world's two biggest economies have clashed over trade tariffs and as U.S. President Donald Trump seeks to promote manufacture in the United States rather than elsewhere. But Cook told China's industry minister Li Lecheng the iPhone maker will keep investing in China, the Chinese ministry said, although the summary gave no details of the size of the projected investment. Apple did not immediately respond to a Reuters' request for comment.  The tech giant, which has also made investment pledges to Washington, has so far managed to be relatively unscathed by the trade war between the United States and China. Other companies, such as Nvidia and Qualcomm have found themselves the target of Chinese investigations. Washington has long placed sanctions on Chinese companies such as Huawei. BALANCING ACT A Shanghai-based government affairs consultant, who requested anonymity because he was not authorised to speak with media, said U.S. companies are wary of angering a White House that could hurt them at home in the world's biggest consumer market for appearing too pro-China. At the same time, they are seeking to avoid appearing insincere in Beijing where they have pledged to be "in China, for China," he added. Cook in August presented Trump with a custom U.S.-made plaque mounted on a 24-carat gold stand commemorating Apple's "American Manufacturing Program," after saying it would invest an additional $100 billion in domestic manufacturing. When Cook visited China in March, Apple made public its plans for a new clean energy fund there worth 720 million yuan ($101 million). Meanwhile, Apple, which relies on suppliers and factories in China where most of its iPhones are assembled, has been trying to shift some manufacturing capacity to India. Apple's COO Sabih Khan on Tuesday visited Lens Technology, a Chinese glass supplier for Apple, the Changsha-based company said in a statement on Wednesday. Lens Technology produces glass covers for Apple products including the iPhone and Apple Watch and has been a partner for 19 years, it said. China hopes Apple will continue to explore the Chinese market and grow together with Chinese suppliers, the industry minister, Li Lecheng, who is also in charge of infotech, told Cook, adding that China would continue to foster a good business environment for foreign companies, including Apple. 'CHOOSING CHINA' Apple's shipments in China grew 0.6% from a year earlier to 10.8 million units in the third quarter against the backdrop of sluggish demand in China's smartphone market, according to data research firm IDC on Wednesday. Boosted by the iPhone 17 series, it was the only brand among China's three biggest vendors to achieve growth in shipments during the period. As part of his visit to China this week, Cook visited Apple's store in Shanghai and met Chinese game developers and the designer of the popular Labubu dolls, he said in posts on China's X-like Weibo. On Monday, he said the iPhone Air would be available for pre-order in China after the industry ministry cleared the way for major telecom operators to support its eSIM functionality. "The business community has always been a stabiliser of China-U.S. relations and a promoter of pragmatic cooperation," China's ambassador to the U.S., Xie Feng, said during an event in Washington on Tuesday. Many U.S. companies have "chosen China" and are benefiting both countries, Xie added. ($1=7.1258 Chinese yuan renminbi) (Reporting by Xiuhao Chen and Joe Cash; Editing by Tom Hogue, Clarence Fernandez and Barbara Lewis)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -Alphabet's Waymo plans to launch its fully driverless ride-hailing service in London in 2026, the robotaxi firm said on Wednesday, as it looks to expand its footprint to major international cities. Waymo has grown slowly but steadily over the years in the United States despite tough regulations and expensive technology. Now, it is picking up speed through partnerships with ride-hailing platforms and fleet operators at a time when Tesla is rolling out its long-promised robotaxi service in the country. Earlier this year, Waymo started collecting data in Tokyo, Japan and testing its vehicles operated by human drivers in cooperation with Japanese taxi firm Nihon Kotsu and with Go, which operates a mobile app for hailing taxi rides. In London, Waymo said it will collaborate with vehicle financing firm Moove as it prepares for the rollout, and is actively engaging with local and national regulators to secure necessary approvals. Waymo vehicles are now on the way to London, where safety drivers will start testing the vehicles before fully autonomous operations begin next year, a Waymo spokesperson said. Waymo currently serves more than 250,000 paid trips every week with about 1,500 vehicles in U.S. cities such as San Francisco, Los Angeles, Phoenix, Arizona, Atlanta, Georgia and Austin, Texas. Waymo has partnered with Moove to handle its fleet operations, facilities and charging infrastructure in Phoenix and next year in Miami, Florida. Ride-hailing firm Uber, which offers Waymo vehicles on its app in Atlanta and Austin, announced in June plans to trial fully driverless rides in the UK from spring 2026 through its partnership with AI startup Wayve. Commercializing autonomous vehicles has proven difficult in the U.S. amid setbacks for several companies, including General Motors' Cruise, due to collisions, recalls and federal investigations. (Reporting by Kritika Lamba in Bengaluru and Abhirup Roy in San Francisco; Editing by Leroy Leo and Lincoln Feast.)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)