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Veolia to Leave 37 Countries as Loss Spurs Quicker Revamp

Veolia Environnement SA will stop operations in at least 37 countries as Chairman Antoine Frerot accelerates a restructuring plan to restore profit at the world’s largest water company.

The Paris-based utility, which supplies water to more than 100 million people worldwide, said it swung to a net loss of 67.2 million euros ($95.9 million) in the first half from a profit of 374.2 million euros a year earlier after writedowns on operations in Italy, Morocco and the U.S. Operating profit was less than analysts expected.