By editorial@silicon.com, 15 December 1998 15:59
NEWS The French government has moved quickly to restate its commitment to France Telecom, after a minister raised the possibility of a share sell-off. Finance Minister, Dominique Strauss-Kahn said the government's stake in the telco could fall below 50 per cent to allow the company to form better business alliances. Departing from the text of his speech, Srauss-Kahn said: "If one thinks this is a good strategy, then it has to be done." However, just one hour later, Reuters received a call from a French Finance Ministry official, saying: "The state will retain majority control. There is no question of its stake going below 50 per cent." The French government currently owns 62 per cent of France Telecom after two share sales.
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