The French government’s decision to block France Telecom SA’s sale of its Dailymotion SA unit to Yahoo! Inc. isn’t indicative of a harder stance against foreign investments, Industry Minister Arnaud Montebourg said.
French President Francois Hollande, in the midst of the worst political crisis since entering office in May, dismissed speculation of a cabinet reshuffle after a minister he’d charged with fighting tax evasion admitted to a secret overseas bank account.
French President Francois Hollande hosted Angela Merkel’s opposition challenger for talks in Paris, sending the German chancellor a public signal that she won’t get his support in federal elections in less than six months.
Electricite de France SA plans to take another month to decide on whether to sell its U.K. distribution network to cut debt, French daily Les Echos reported, without saying where it got the information.
The French finance ministry plans to test a program this year where the tax authority would audit companies as they prepare their tax returns, Les Echos reported, without citing anyone. *Companies will be expected to share a maximum of financial information as they’re preparing their returns, the newspaper said *In return, companies will receive greater fiscal and judicial security, the newspaper said. *This year’s test will cover a dozen voluntary candidates, and in 2014 will be offered generally to any company that wants to participate, the newspaper said. *Plan is part of a Competitivity Pact announced Nov. 6.
Areva SA has hired Nomura Holdings Inc. to advise it on Urenco Ltd., the uranium enrichment company owned by the U.K., Germany and the Netherlands, French daily Les Echos reported, citing unidentified people.