Government to cut FT stake

25 Jun 2007

France’s Finance Ministry has revealed plans to reduce its stake in France Télécom by as much as 7% in order to reduce public debt. Economics minister Christine Lagarde said that depending on demand the state could sell between 130 million and 180 million shares, corresponding to 5% and 7% of the company. The sale would cut the government’s stake to between 25.5% and 27.4%, and could raise as much as EUR3.8 billion.

France, Orange Group