Vivendi boss Jean-Bernard Levy had made the deal a top priority to increase the company's cash flows and raise its exposure to both telecoms and its home market in France.
Despite insistence from HP Chief Executive Carleton Fiorina Carleton Fiorina that the deal is about much more than PCs, analysts agree the merger raises its exposure to the flattening, thin-margin market.
In another trend-bucking move, Credit Suisse has raised its suggested exposure to bonds denominated in now-mighty sterling eightfold.
As a result, the firm has raised its recommended equity exposure sharply.
The markets also saw its exposure to Greece and raised its borrowing costs accordingly.
After a decade of sluggish performance that made it difficult to achieve the fund's target investment returns, the state hopes that raising its private equity exposure will help it to meet those goals.
This result raises concerns regarding its exposure to exhibition lighting.
"This market is muddling through but doing remarkably well," says Stack, who's now 50% allocated into equities, but plans to raise his exposure soon to 65%.
Sometimes the issue raised is exposure to high-frequency radio waves.
Children raised with exposure to environmental tobacco smoke experience increased cough and wheeze.
