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France optes for a new privatisation plan

Shares of Aeroports de Paris and Engie will be sold

The French Government is planning to opt for a new privatisation plan that could include the sale of the shares held in Aeroports de Paris and in the Engie electricity's production and distribution company.

According to the French economic and financial newspaper "Les Echos", a draft of the new law on privatisation will be presented to the French Council of Ministers on June 18th. The French Finance Minister Bruno Le Maire, interviewed by the newspaper, explained the reasons behind this decision. According to the representative, the purpose of what seems to be one of the biggest privatisation rounds launched in the last ten years basically consists in an improvement in the use of national money. As the Minister explained: "The State's shares in these listed companies represent about 15 billion EUR that are immobilized today and that do not allow investing for our future". The Government's intention is to "invest the resources obtained from the sales of companies' shares in industry and innovation" in order to create new jobs. The main aim is to pass from a management logic to an investment approach in the future in the belief that the State should not be involved in the companies' management.

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