French government considering selling shares in Orange or Safran, denies potential divestment of ADP shares
The government of France is understood to be considering selling shares in some listed French groups in order to raise cash, French daily Le Monde reported. The funds could be used for the recapitalisation of Areva, estimated at EUR 3bn, report noted. The government could sell shares in listed groups Safran and Orange, the report cited banks as saying.
Meanwhile, French Finance Minister Michel Sapin denied news that the government would sell shares in listed French airports operator ADP. An earlier report from Bloomberg claimed that shares in ADP, in which the government controls a 50.6% stake, could be sold. Sapin replied that the love was not in the agenda, the report hinting that the door was not entirely slammed on the subject. The report also noted that the government would have to vote a law if it wants to decrease its stake in ADP to less than 50%.
With the downturn of the world’s exchange after the summer, the investments owned by the government in listed companies has fallen by 12.1% since the beginning of the year to EUR 68.3bn, the report went on to say.
The original article appeared in print I the Economy section of Le Monde, page 3.
Le Monde