France to raise €22bn from jets and electricity sales

Electricité de France could raise €20bn and Snecma €2bn

Tuesday 4 May 2004 at 16:00

The French government is set to raise up to €22bn ($26.5bn) through the partial privatisations of Electricité de France and Snecma, the jet engine manufacturer.

A timetable has yet to be set for the flotation of EdF, which is being advised by BNP Paribas, with Calyon and Morgan Stanley advising the state.