Spantax From Belgium, joined Nov 2004, 321 posts, RR: 1
Reply 3, posted (9 years 3 months 1 week 2 days 20 hours ago) and read 2126 times:
From "Le Monde" (only in French). The State gets $ 953 million with the operation. But why do the French State still keeps around 27% of the stakes in the company is a mystery for me. This stupid "grandeur de la France" !
Leskova From Germany, joined Oct 2003, 6075 posts, RR: 71
Reply 5, posted (9 years 3 months 1 week 2 days 18 hours ago) and read 2064 times:
I'd say that the retention of 27% by the French state has nothing to do with "grandeur de la France" - it probably just has something to do with the French not wanting to put the complete rest of Air France out for sale immediately: they probably expect that they'll be able to make more money if they sell the rest, either in one piece or in several steps, somewhere down the line.
I'd not call that stupid, but smart.
And regarding AZ - the plain and obvious difference between the two is that AF could very well survive without state holdings... but I seriously doubt AZ could - and that's aside from the fact that the unions at AZ would probably try to prevent a privatisation by strike...