France Endorses Cut in Stake In SGS-Thomson by State Firms

The French government endorsed a widely anticipated plan to reduce the stake in chip maker SGS-Thomson Microelectronics NV held by French and Italian state-owned companies. In an interview with French business daily Les Echos published Tuesday, France's industry minister, Christian Pierret, sai...

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Bibliographic Details
Published inWall Street journal. Europe
Main Author By staff reporters Matthew Rose in London And Douglas Lavin in Paris
Format Newspaper Article
LanguageEnglish
Published Brussels Dow Jones & Company Inc 25.02.1998
EditionEurope
Subjects
Privatization
Stockholders
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Summary:The French government endorsed a widely anticipated plan to reduce the stake in chip maker SGS-Thomson Microelectronics NV held by French and Italian state-owned companies. In an interview with French business daily Les Echos published Tuesday, France's industry minister, Christian Pierret, said the government "isn't opposed" to reducing the joint stake to 51% from 69%, allowing SGS-Thomson to "finance its industrial development."
ISSN:0921-9986