TheChek News Flow

French Business Newsletter Summary (January 28, 2026)

EXECUTIVE

Economy Minister Roland Lescure authorized the sale of aerospace equipment supplier LMB Aerospace to American firm Loar Group without requiring Bpifrance involvement, overriding Defense Ministry (DGA) recommendations. Loar Group acquired 100% of shares from previous owners Tikehau Capital, Amundi, and Thomas Bernard for approximately €400 million—double the €200 million Tikehau paid in 2021. The transaction received approval on December 26, 2025, despite earlier government concerns. The DGA had opposed the summer 2025 sale, with ministers Éric Lombard (Economy) and Sébastien Lecornu (Defense) previously threatening veto over American control of Rafale combat aircraft and Leclerc tank component suppliers. However, Emmanuel Chiva replaced Patrick Pailloux as Lecornu's chief of staff in November, proposing to maximize the deal while involving Bpifrance. The final approval came without public government communication, contrasting with the transparent Doliprane-Sanofi sale to American firm Clayton, Dubilier & Rice in autumn 2024. The transaction is under investigation by the National Financial Prosecutor.

The Renaissance party is rebranding to "Nouvelle République" through naming agency Namibie, with the new name registered at the National Institute of Industrial Property (INPI) in September 2025 by intellectual property lawyer Nicolas Godefroy. The change aims to differentiate from Eric Zemmour's Reconquête party and Édouard Philippe's Horizons party. The new name "Pour une nouvelle République" is considered less compelling than "Renaissance," chosen by Stéphane Séjourné in September 2022. Party secretary Gabriel Attal seeks to impose his identity ahead of the 2027 presidential election, though the final name choice—criticized by regional newspaper La Nouvelle République for plagiarism—won't be finalized until after municipal elections. The move follows the party's evolution from Emmanuel Macron's 2016 "En marche !" movement to "La République en Marche" and eventually "Renaissance." In 2022, Renaissance was described as conveying renewed hope. In July 2024, Attal noted on LinkedIn the party aimed to unite and revitalize parliamentary dynamics. Validation is expected in March.

The Ecologist and Social group is establishing an investigative commission focused on digital issues affecting public authorities' layoff plans at the National Assembly. Group members plan to target National Rally (RN) positions, led by Hérault deputy Aurélien Lopez-Liguori. Commission president Cyrielle Chatelain (Isère) declared the resolution admissible on January 27, with examination assigned to deputy Philippe Latombe (Les Démocrates) as secretary. The investigation will examine risks from public data brokers, disinformation challenges, and French dependence on American solutions. Ecologists anticipate this will refocus future investigative work on cloud computing, data storage, and protection software used in public administrations. The commission's formal creation awaits approval on February 3.

During the Public Health Committee (SANT) coordination meeting on January 27, the Alliance of Socialists and Democrats (S&D) and European People's Party (PPE) agreed on strategic rapporteur designations for two major upcoming legislations. Lithuanian Vytenis Andriukaitis (S&D) will pilot biotechnology regulations, while Croatian Tomislav Sokol (PPE) will handle medical device provisions. Rapporteur names haven't been announced by both majority groups. Despite rapid political agreement among group coordinators, the future biotech regulation remains contentious, requiring SANT to share competencies with the Industry, Research and Energy Committee (ITRE) and Environment Committee (ENVI). If coordinators cannot reach agreement during the Conference of Committee Presidents, committee president Roberta Metsola will decide. The industry sector is lobbying European deputies for simplified clinical trial access against Chinese and American competitors, seeking improved access to European funds like the EIC Fund of the European Innovation Council.

ENTERPRISES

EDF Hydro director Emmanuelle Verger-Chabot announced to staff in early January that the subsidiary's production divisions must reduce operating expenses by €19 million by 2030. Group CEO Bernard Fontana promises these savings will be reinvested in dam infrastructure. The cost reduction program specifically targets support functions, with EDF Hydro required to achieve €19 million in savings while the nuclear and thermal division (DPNT) under Cédric Lewandowski must find €100 million. Both entities received promises that amounts would be reallocated to their productive tools, primarily through work financing to be determined. For EDF Hydro, this could serve to increase dam power or ensure predictive/curative maintenance. An internal "My EDF Group" survey shows confidence in the group's future declined 3 points to 66% among EDF Hydro employees, with 69% (up 3 points) remaining optimistic about their own future. However, those believing the group is heading in the right direction dropped 3 points to 34% in 2025. Within the subsidiary, savings should reach €3 million in 2026 and €4 million in subsequent years. Director Emmanuelle Verger-Chabot indicated affected areas would be announced soon.

Savings research will manifest through a 15% reduction in IT spending. For example, standard off-the-shelf software purchases will be prioritized over enterprise-specific custom development, appearing disproportionately expensive relative to services provided. This will notably result in reduced reliance on external service providers. Additionally, management seeks to identify which support functions—not directly tied to energy production—are redundant and can be eliminated, whether in human resources, information systems, or consulting purchases. Finally, EDF Hydro is preparing to transition from concession to authorization regime for hydroelectric dams, as outlined in the law proposed in early January by deputies Marie-Noëlle Battistel (Socialist Party) and Philippe Bolo (Modem). This legislation is expected to remove two contentious issues between France and the European Commission, enabling EDF to invest massively in dam construction, notably energy transfer pump stations. EDF Hydro anticipates a tax increase linked to these new requirements.

French satellite motor specialist Exotrail is launching a partnership with Japanese company Astroscale's tricolor subsidiary to capture the deorbitation market. Both companies are positioning themselves for a first European call for tenders this year. Already selected in November by Space Command for future military "patrol" satellites providing Yoda motors, SME Exotrail is pursuing its rise in power on the promising In-Orbit Servicing (IOS) segment. The SME founded and chaired by Jean-Luc Maria, an engineer who graduated from ISAE Supaero and formerly with CNRS, will announce this Wednesday, January 28, at the European Space Conference in Brussels, a strategic partnership with a competitor—Japanese Astroscale's French subsidiary. Based in Massy, Exotrail has had a production facility with 100-motor monthly capacity and an order book exceeding 150 units to deliver since July. The company now aims to position itself in deorbitation services, employed notably to declutter satellite space at end-of-life by bringing them into the atmosphere where they disintegrate.

By partnering, Exotrail and Astroscale aim to jointly respond to a European client's call for tenders for a first low-orbit satellite deorbitation before 2030. Japanese Astroscale, chaired by Nobu Okada and directed in France by Philippe Blatt, already has recognized expertise in orbital approach. Beyond end-of-life satellite destruction, this booming market involves constellation multiplication, from Starlink by Elon Musk at Kuiper by Jeff Bezos through Chinese Guowang, which also promises refueling operations, orbital servicing, or inspection and destruction of enemy satellites. Beyond Atroscale, Americans Impulse Space and Starfish Space, awarded a first contract to the United States in January, Italian D-Orbit, and Toulouse-based Infinite Orbits are positioned in this niche.

MEDIA

Within CMA Media, Arnaud de Courcelles has been simultaneously managing two general directorships for a year—BFM Locales antennas and BFM Business. He is charged with conducting a decisive dual reform, though so far fraught with pitfalls, for Rodolphe Saadé's group. Since purchasing RMC and BFM antennas in summer 2024 by CMA CGM patron Rodolphe Saadé, this discreet man has become one of the galaxy's rising figures within CMA Media. As general director of both BFM Business and BFM Locales (formerly BFM Régions), Arnaud de Rémy de Courcelles, commonly known as Arnaud de Courcelles, shoulders two structuring media group projects for 2026. He must establish a major transversal hub between BFM Business and La Tribune while building a viable economic model for BFM's local antennas. Having become Rodolphe Saadé's sensitive missions man, this ambitious individual has successfully delivered some successes to earn his stripes. According to our information, during the 2024-2025 season, BFM Business radio increased its audience (+16%). BFM Business's digital audience doubled, reaching 50 million monthly visits. BFM Business channel's business figures show constant progression.

A year ago, former CMA Media vice president Nicolas de Tavernost had entrusted Arnaud de Courcelles with establishing a crossover with daily La Tribune, a major economy hub expected to launch in early summer 2026 with de Courcelles taking general management under Jean-Christophe Tortora's chairmanship at CMA Media's press hub. The information directorship casting, initially expected to go to Lucie Robequain, recently replaced as L'Informé site revealed, remains undecided. However, this transversal hub's constitution was slowed by successive organizational changes riddled with social tensions. Driven by Jean-Christophe Tortora, entrusted to Arnaud de Courcelles, then paused by Claire Léost upon her disruptive arrival at CMA Media's head, the synergy project around a "pro-business" editorial line strengthened has returned to the rails at year's start. Formal announcements in social and economic committee (CSE) are promised within two weeks to distribute roles among La Tribune's 40 journalists and BFM Business's 70 journalists. The challenge will be making both brands coexist—one with a paid model (La Tribune) with subscribers, the other free (BFM Business). A stake made all the stronger as competition is fierce. Indeed, LVMH group, which owns Les Échos, Investir, and Radio Classique, added L'Agefi and Challenges to its economic titles portfolio last year.

Awaiting staff situation clarification, Arnaud de Courcelles has driven initial synergies. A weekly show titled Air&Défense launched Friday on BFM Business antenna, presented by Jean-Baptiste Huet (BFM Business) with Michel Cabirol (La Tribune), in partnership with Air & Cosmos magazine, purchased by CMA Media in 2025. Alongside Jean-Christophe Tortora, rapprochements also multiply through event connections, with organization of salons like Impacts Santé on April 14 (La Tribune, BFM Business), Paris Air Forum on June 11 (BFM Business, La Tribune, Air & Cosmos), and Artificial Intelligence Marseille (AIM) on September 24-25 (La Tribune, BFM Business), which now constitutes the group's largest event.

Arnaud de Courcelles also inherited BFM Locales general management amid crisis, following Philippe Antoine's departure disagreeing with BFM Paris's closure. While nine struggling or underperforming local antennas fear the same fate, Marine Machefer, editorial director, resigned last week. Highly appreciated by the ten regional antennas, she was particularly attentive to defending journalists against local pressures. On January 14 in CSE, Arnaud de Courcelles and CMA Media HR Émilie Conte preferred soft-pedaling when asked if a voluntary departure plan was in the pipeline. An operation aimed at reassuring troops was even launched by the DG in Normandy, while Guillaume Nicolas-Brion, Marine Machefer's replacement, went to contact journalists in Lille. Local futures aren't decided yet. Between outright closure scenarios for certain antennas and investments allowing local network relaunching, Arnaud de Courcelles borrows a middle path, perpetuating certain content. Beyond Nicolas de Tavernost, this former L'Équipe member had obtained a budget, subsequently validated by Claire Léost, to focus on sports, thereby acquiring national football championship rights as well as second-division basketball and Provence cycling tour rights. Pending this, local antenna rapprochements are also being studied to extend broadcast perimeter. Impressive advances that should lead to a more conclusive spring vision.