Luxembourg call centre company goes public

Three days after French media conglomerate Vivendi listed a unit on the Amsterdam stock exchange, German media group Bertelsmann is doing the same. The media group is having a difficult year and has therefore decided to sell part of its 50 percent interest in Majorel, the call centre company from Luxembourg, and to cash in. The Moroccan Elalamy family, which holds the other half of the shares, has done the same. The IPO of Majorel, which employs over sixty thousand people in 31 countries and operates telephone customer services and call centres for large companies, generated a revenue of €3.3 billion despite a fall in the share price on the first day of trading.