French government presses banks for privatization plans

17 July 2002 – A deadline of the end of this week has been given to investment banks by the French Treasury to submit their recommendations for the privatization of monopoly power and gas utilities Electricité de France and Gaz de France, according to a Liberation report.

The report quotes an anonymous source who said the Treasury had also set a deadline of 22 July for the banks to come forward with recommendations on the privatization of 11 other companies in which the French government owns a stake. The tender offers were sent to all the investment banks in Paris on July 12, according to Liberation.

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