Advertisement

Paris's tactical move in privatization bid

PARIS, Oct. 28 (UPI) -- France has scuttled plans to partially privatize Areva SA, the world's biggest nuclear reactor maker.

The move appeared to be a tactical retreat in the government's attempt to invigorate the economy by privatizing its substantial public sector, the Wall Street Journal reported Friday.

Advertisement

Powerful labor unions had been particularly exercised by the partial privatization plans, and rather than provoke them the government has conceded and saved its political capital for other, larger privatization initiatives.

Besides seeking privatization for economic reasons, France also is pursuing such moves to comply with EU market-opening rules.

Latest Headlines

Advertisement

Trending Stories

Advertisement

Follow Us

Advertisement