Sarkozy backtracks on national energy champion

Wednesday 14 June 2006 at 16:00

Nicolas Sarkozy, the French interior minister, has raised the prospect of limiting a deal between Gaz de France and Suez to cross shareholdings rather than a full blown merger, ahead of a crucial debate in the French parliament today.

Sarkozy's proposal follows mounting political turbulence in France threatening to scupper the €34.7bn ($44.7bn) merger.