English: See, for example, p. 9 of the above-mentioned report by Goldman Sachs of 22.7.2002: ‘If these bonds moved from the investment grade segment of the fixed income market, to “junk”, i.e. high yield, they would swamp the current European high yield market … [and] we believe it would be difficult for the existing European investor base alone to absorb all France Telecom bonds ’.
French: Cf. par exemple p. 9 du rapport précité de Goldman Sachs du 22 juillet 2002: «Si ces obligations passaient du rang d'investissement du marché du revenu fixe au rang spéculatif c'est-à-dire à haut rendement, elles inonderaient le marché européen actuel des obligations à haut rendement (…) [et] nous pensons qu'il serait difficile pour les investisseurs européens d'absorber l'intégralité des obligations France Télécom». ( «If these bonds moved from the investment grade segment of the fixed income market, to “junk”, i.e. high yield, they would swamp the current European high yield market(…) [and] we believe it would be difficult for the existing European investor base alone to absorb all France Telecom bonds ».)
German: Siehe z. B. S. 9 des bereits zitierten Berichts von Goldman Sachs vom 22. Juli 2002: „Sollten diese Obligationen aus dem Investment-Grade-Segment des Rentenmarkts in die Kategorie der hochspekulativen, d. h. ertragreichen Wertpapiere abrutschen, würden sie den aktuellen europäischen Markt der hochverzinslichen Wertpapiere überschwemmen (...) [und] es würde unserer Meinung nach den europäischen Anlegern schwer fallen, sämtliche Obligationen von France Télécom aufzunehmen“. ( ‘If these bonds moved from the investment grade segment of the fixed income market, to “junk”, i.e. high yield, they would swamp the current European high yield market(…) [and] we believe it would be difficult for the existing European investor base alone to absorb all France Telecom bonds ’.)
Spanish: Cf. por ejemplo la página 9 del ya mendionado informe de Goldman Sachs del 22 de julio de 2002: «Si estas obligaciones retrocediesen del rango de inversión del mercado de rentabilidad fija al rango especulativo, es decir de alto rendimiento, inundarían el mercado europeo actual de obligaciones de rendimiento elevado (…) [y] creemos que para los inversores europeos sería difícil absorber la totalidad de las obligaciones de France Télécom». ( ‘If these bonds moved from the investment grade segment of the fixed income market, to “junk”, i.e. high yield, they would swamp the current European high yield market(…) [and] we believe it would be difficult for the existing European investor base alone to absorb all France Telecom bonds ’.)
Italian: V. a esempio la p. 9 della suddetta relazione di Goldman Sachs del 22 luglio 2002: «Se queste obbligazioni passassero dal grado d'investimento del mercato a reddito fisso al grado speculativo, vale a dire a alto rendimento, esse inonderebbero l'attuale mercato europeo delle obbligazioni ad alto rendimento (…) [e] riteniamo che sarebbe difficile per gli investitori europei assorbire la totalità delle obbligazioni France Télécom» (If these bonds moved from the investment grade segment of the fixed income market, to «junk», i.e. high yield, they would swamp the current European high yield market (…) [and] we believe it would be difficult for the existing European investor base alone to absorb all France Telecom bonds).
Portuguese: Cf., por exemplo, ponto 9 do relatório supra citado de Goldman Sachs, de 22 de Julho de 2002: «Se estas obrigações passassem do nível de investimento do mercado de rendimento fixo para o nível especulativo, ou seja, de elevado rendimento, iriam inundar o actual mercado europeu das obrigações de elevado rendimento (…) [e] consideramos que seria difícil que os investidores europeus absorvessem a totalidade das obrigações da France Télécom». ( «If these bonds moved from the investment grade segment of the fixed income market, to “junk”, i.e. high yield, they would swamp the current European high yield market(…) [and] we believe it would be difficult for the existing European investor base alone to absorb all France Télécom bonds ».)
Dutch: Zie bv. het eerder aangehaalde verslag van Goldman Sachs van 22.7.2002, blz. 9: „If these bonds moved from the investment grade segment of the fixed income market, to „junk”, i.e. high yield, they would swamp the current European high yield market(…) [and] we believe it would be difficult for the existing European investor base alone to absorb all France Telecom bonds ” (eigen vert.: „Mochten deze effecten verhuizen van het segment „investeringswaardig” op de markt voor vastrentende obligaties, naar het niveau „junk”, dus hoogrentend, dan zouden zij de huidige Europese markt voor hoogrentende obligaties overspoelen (…) [en] we denken dat het voor de bestaande groep Europese investeerders moeilijk zou zijn om alle France Télécom-papier op te nemen ”.)
Danish: Se f.eks. side 9 i den tidligere nævnte rapport fra Goldman Sachs af 22. juli 2002: »Hvis disse obligationer gik fra investeringskategorien med fast afkast til en rating som spekulationspapirer, dvs. med højt afkast, ville de oversvømme det nuværende europæiske marked for obligationer med højt afkast (…) [og] vi tror, det ville være vanskeligt for de europæiske investorer alene at optage samtlige obligationer fra France Télécom«.
Swedish: Se till exempel sidan 9 i den tidigare nämnda rapporten från Goldman Sachs av den 22 juli 2002: ”Om obligationerna på marknaden för fast ränta hade klassats om från hög kreditvärdighet till spekulation med hög avkastning skulle de översvämma dagens europeiska marknad med obligationer med hög avkastning (…) [och] vi anser att de europeiska investerarna skulle få svårigheter att absorbera alla France Télécoms obligationer”. ( ”If these bonds moved from the investment grade segment of the fixed income market, to ’junk’, i.e. high yield, they would swamp the current European high yield market(…) [and] we believe it would be difficult for the existing European investor base alone to absorb all France Telecom bonds ”.)
Finnish: Ks. esimerkiksi Goldman Sachsin aiemmin mainitun 22.7.2002 päivätyn raportin sivu 9: ”Jos joukkovelkakirjalainojen luokitus laskisi kiinteätuottoisten lainojen investointitasolta spekulatiiviselle, korkean tuoton tasolle, ne tukkisivat Euroopan nykyiset korkean tuoton joukkovelkakirjamarkkinat (...) [ja] uskomme, että eurooppalaisilla sijoittajilla olisi hankala tehtävä France Télécomin kaikkien joukkovelkakirjojen merkinnässä.” ( ‘If these bonds moved from the investment grade segment of the fixed income market, to “junk”, i.e. high yield, they would swamp the current European high yield market(…) [and] we believe it would be difficult for the existing European investor base alone to absorb all France Telecom bonds ’.)
Greek: Βλέπε για παράδειγμα σελίδα 9 της παραπάνω αναφερόμενης έκθεσης Goldman Sachs της 22ας Ιουλίου 2002: «Εάν αυτές οι ομολογίες περνούσαν από το επίπεδο επένδυσης σταθερού εισοδήματος σε κερδοσκοπικό επίπεδο, δηλαδή υψηλής απόδοσης, θα πλημμύριζαν την σημερινή ευρωπαϊκή αγορά ομολογιών υψηλής απόδοσης (...) [και] είμεθα της γνώμης ότι θα ήταν δύσκολο για τους ευρωπαίους επενδυτές να απορροφήσουν το σύνολο των ομολογιών France Télécom».
Czech: Srov. například s. 9 výše uvedené zprávy Goldmana Sachse ze dne 22. července 2002: „Pokud by obligace přešly z úrovně investování trhu se stálým ziskem do spekulativní úrovně, tj. do vysoké efektivnosti, zaplavily by současný evropský obligacemi s vysokou efektivností (…) [a] myslíme,. že by pro evropské investory pohltit celistvost obligací France Télécom bylo obtížné“.
Slovak: Porovnaj napr. na s. 9 správy Goldmana Sachsa z 22. júla 2002: „Keby sa tieto dlhopisy postúpili z investičnej úrovne burzy obligácií s pevným úrokom do špekulatívnej úrovne t.j. úrovne s vysokým výnosom, zaplavili by súčasný európsky trh obligácií s vysokou výnosnosťou (…) [a] nazdávame sa, že pre európskych investorov by bolo obtiažne absorbovať všetky dlhopisy France Télécom“. ( „If these bonds moved from the investment grade segment of the fixed income market, to ‚junk‘, i.e. high yield, they would swamp the current European high yield market(…) [and] we believe it would be difficult for the existing European investor base alone to absorb all France Telecom bonds “.)
Polish: Patrz na przykład str. 9 cytowanego wcześniej raportu Goldmana Sachsa z dnia 22 lipca 2002 r.: „Jeżeli obligacje te przeszłyby z poziomu inwestycyjnego o stałym zwrocie do poziomu spekulatywnego, tzn. o wysokiej rentowności, zalałyby obecny rynek europejski obligacjami o wysokiej rentowności(…) [i] sądzimy, że inwestorom europejskim byłoby trudno wchłonąć całość obligacji France Télécom”. ( „If these bonds moved from the investment grade segment of the fixed income market, to ‘junk’, i.e. high yield, they would swamp the current European high yield market(…) [and] we believe it would be difficult for the existing European investor base alone to absorb all France Telecom bonds ”.)
Hungarian: Lásd például Goldman Sachs 2002. július 22-i fent említett jelentését, 9. o.: „Ha ezek a kötvények a fix jövedelmezőségű piaci befektetések rangjából a spekulatív, azaz a magas hozamú kategóriába kerülnének, elözönlenék a jelenlegi európai magas hozamú kötvénypiacot (…) [és] úgy gondoljuk, nehéz lenne az európai befektetőknek felszívniuk az összes France Télécom kötvényt”. ( „If these bonds moved from the investment grade segment of the fixed income market, to »junk«, i.e. high yield, they would swamp the current European high yield market(…) [and] we believe it would be difficult for the existing European investor base alone to absorb all France Telecom bonds ”.)
Slovenian: Prim., str. 9 omenjenega poročila podjetja Goldman Sach z dne 22. julija 2002: „Če so te obveznice prešle z ravni vlaganja na trgu s stalnim prihodkom na špekulativno raven, torej na visok donos, bodo preplavile dejanski evropski trg obveznic z visokim donosom (…) [in] menimo, da bo težko za evropske vlagatelje prevzeti vse obveznice podjetja France Télécom“. ( ‘If these bonds moved from the investment grade segment of the fixed income market, to ‚junk‘, i.e. high yield, they would swamp the current European high yield market(…) [and] we believe it would be difficult for the existing European investor base alone to absorb all France Telecom bonds ’.)
Estonian: Vrld nt punktiga 9 eelpoolmainitud Goldman Sachsi raportist 22. juulist 2002: “Kui need obligatsioonid liiguksid kindlaksmääratud tulususega investeeringute turu realt spekulatiivsele, st kõrge tulususega reale, ujutaksid nad üle praeguse Euroopa kõrge tulususega obligatsioonidega turu (...) [ja] me arvame, et Euroopa investorite jaoks oleks raske France Télécomi obligatsioone tervikuna ära kasutada”. ( “If these bonds moved from the investment grade segment of the fixed income market, to “junk”, i.e. high yield, they would swamp the current European high yield market(…) [and] we believe it would be difficult for the existing European investor base alone to absorb all France Telecom bonds ”.)
Latvian: Sal., piemēram, iepriekš minētā Goldman Sachs 2002. gada 22. jūlija ziņojuma 9. punktu: “Ja šīs obligācijas no tirgus investīciju līmeņa ar fiksētiem ienākumiem pārietu uz spekulatīvo līmeni, t.i., ar augstiem procentiem, tās pārpludinātu pašreizējo Eiropas obligāciju tirgu ar augstiem procentiem (…) [un] mēs domājam, ka Eiropas investoriem būtu grūti absorbēt France Télécom obligāciju kopumu”. ‘(If these bonds moved from the investment grade segment of the fixed income market, to junk, i.e. high yield, they would swamp the current European high yield market(…) [and] we believe it would be difficult for the existing European investor base alone to absorb all France Telecom bonds.)’
Lithuanian: Žr., pavyzdžiui, 2002 m. liepos 22 d. Goldman'o Sachs'o ataskaitos p. 9: „Jei jos įsipareigojimai iš pastovias pajamas teikiančių rinkos investicijų kategorijos nukristų į spekuliacijų, t.y. didelio pajamingumo kategoriją, jie užtvindytų dabartinę Europos rinką didelio pajamingumo obligacijomis (…) [ir] mes manome, kad Europos investuotojams būtų sudėtinga įsisavinti visas France Télécom obligacijas“. ( „If these bonds moved from the investment grade segment of the fixed income market, to „junk“, i.e. high yield, they would swamp the current European high yield market(…) [and] we believe it would be difficult for the existing European investor base alone to absorb all France Telecom bonds “.)