French government sells Renault stock

danielsydney

danielsydney

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The French government sold an 8.5 percent stake in Renault Monday through a private placement with institutional investors.

The sale, with shares priced at about $78.80, will reduce the government's stake in Renault from 25.9 percent to between 17.4 percent and 16.6 percent.

The other main shareholders in Renault are its Japanese partner Nissan, which has a 15 percent stake but no voting rights, and Renault employees with 3.3 percent of the stock.

The sale takes advantage of a recent rally in the French carmaker's share price at nearly 12-month highs.

The French government said it had no plans to cut its stake in the carmaker further in the short-to-medium term, the Financial Times of London reported.

However, the government plans to reduce its stake in France Telecom to less than 50 percent.
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renault_ :mad:
 
What's wrong with that? IMO, the less government intrusion on a successfull business the better.

Anyway Daniel, you're a Citroen driver now, should be of even less interest... wink
 
I know but I still take a big interest in Renault.I still love the brand. renault_ :D
 
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