France plans privatization law in asset sale push: PM
FILE PHOTO: French Prime Minister Edouard Philippe delivers a speech at the Elysee Palace after the first weekly cabinet meeting of the year and a government seminar in Paris, France, January 3, 2018. REUTERS/Benoit Tessier
Get Alerts ADP Hot Sheet
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 2.3%
EPS Growth %: +10.7%
Join SI Premium – FREE
PARIS (Reuters) - The French government is planning a privatization bill as part of its program of asset sales, Prime Minister Edouard Philippe said in an interview, confirming that the state could cede control of some companies.
The government outlined last year plans to sell stakes in order to finance a 10 billion euro ($12.0 billion) innovation fund.
It has since reduced its minority stakes in energy group Engie
"There have already been some (asset sales) and there will be more," Philippe said in an interview with Sunday paper JDD.
Asked if the government would present a privatization bill, a necessary step for ceding state control, he said: "Yes. The question is not taboo."
He declined to indicate the timetable for asset sales and did not mention any companies.
Last month, Finance Minister Bruno Le Maire said the government would detail its asset sale program in early 2018, while the head of APE, which manages the state's corporate holdings, said the government had yet to make any decision over whether to privatize ADP.
(Reporting by Gus Trompiz; Editing by Meredith Mazzilli)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Verisign's Q1 revenue rises on demand for internet services
- Inflation in Japan's capital slows more than expected, slides below BOJ goal
- South Korea's public finances no longer a credit rating 'strength', Fitch says
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!