Jospin converted to opening up capital

Article Abstract:

French Prime Minister Lionel Jospin has indicated that in principle his government is not adverse to the concept of privatisation, if it was in the country's best interest. The sell-off of French finance and insurance companies CIC and GAN will take place in October 1997. Air France is also expected to be privatised at the beginning of 1998, contrary to the government's previous plans. Other privatisations are expected to include defence electronics manufacturer Thomson-CSF, with the government expected to retain 30-40% of its existing 58% stake in the group.

Banking Institutions, Depository Credit Intermediation, Insurance, Insurance Carriers and Related Activities, Other Electrical Equipment and Component Manufacturing, DEPOSITORY INSTITUTIONS, Electronic Components and Accessories, INSURANCE CARRIERS, Military Electronics, Banks (Finance), Economic policy, Thales S.A., Jospin, Lionel, Credit Industriel et Commercial, Air France KLM S.A., Groupe des Assurances Nationales S.A.

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French revenues to halve in 1996

Article Abstract:

The French government now expects revenues from privatisation to amount to only 22 billion French francs, compared with earlier estimates of 45 billion French francs. At present, only around 16 billion French francs has been raised, but this sum could be boosted by the partial sale of France Telecom or by the sale of the government's remaining 9.92% stake in Elf Aquitaine. There is uncertainty about privatisation plans for some companies, including Renault.

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Difficult background affects Pechiney

Article Abstract:

A total of 13.2 million shares in Pechiney of France, were offered to the public. Total estimated receipts are expected to be about 4.3 billion French francs. The direct sale of a stake in BFCE was also launched, along with a third attempt to privatise Radio Monte Carlo (RMC).

Pechiney Corp.

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