Bad humour

16 October 2007 By Pierre Briancon

France’s president told Gaz de France unions he’d nationalised Suez by approving the merger. Independent board members are irked. Joking or not, the comments underline his interventionist streak. He could end up treating GdFSuez like Putin treats Gazprom.

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Nicolas Sarkozy, the French president, told Gaz de France union representatives over the weekend that he had not agreed to a privatisation of GdF when greenlighting the company's merger with Suez, the FrenchBelgian utility. "I am nationalising Suez, at least that is what they say everywhere in Europe, he said, according to a source quoted by the Financial Times. Sarkozy also hinted that the French state in the future might increase its stake in the merged entity, which will stand at 35% once the merger is completed in the first half of 2008.

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