SHUPirate1
Topic Author
Posts: 3428
Joined: Sat Sep 20, 2003 2:53 pm

French Government Selling 17.7% Stake In AF-KLM

Thu Dec 09, 2004 7:38 pm

I just heard this on CNBC World...will post more information as I find it...they are using the proceeds to pay down the national debt...maybe something our government should pay attention to...
Burma's constitutional referendum options: A. Yes, B. Go to Insein Prison!
 
AlanUK
Posts: 511
Joined: Thu Oct 07, 2004 2:56 am

RE: French Government Selling 17.7% Stake In AF-KLM

Thu Dec 09, 2004 7:44 pm

Yes, I have read the article on an intranet website, but am trying to find a link to a public site... It's about time France's government let AF fly freely.

Now that they have bought them nice new planes, bought them KLM, and killed off almost all direct competition on their territories, AFKLM is ready to compete on its own!

What the french get away with I'm telling you!  Insane
 
SHUPirate1
Topic Author
Posts: 3428
Joined: Sat Sep 20, 2003 2:53 pm

RE: French Government Selling 17.7% Stake In AF-KLM

Thu Dec 09, 2004 7:50 pm

http://framehosting.dowjonesnews.com/story/index.asp?StoryID=2004120910280004&Take=2&QF=&Loc=W&UID={0BC853D0-6C8B-4760-B4B8-1FB514EE0981}&CLS=1043325806

Apparently the French government will still have about a 26% stake in the holding corporation that owns both Air France and KLM after the sale.

[Edited 2004-12-09 12:15:54]
Burma's constitutional referendum options: A. Yes, B. Go to Insein Prison!
 
spantax
Posts: 302
Joined: Fri Nov 05, 2004 4:44 pm

RE: French Government Selling 17.7% Stake In AF-KLM

Thu Dec 09, 2004 7:59 pm

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" !
A300.10.19.20.21.30.40,AN26,ATR42,AVR146,B717.27.37.47.57.77,B1900,C130,C212,CH47,CRJ200.700,DC9,DHC4,ERJ135.190,F27
 
scotron11
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RE: French Government Selling 17.7% Stake In AF-KL

Thu Dec 09, 2004 8:23 pm

ditto the Italians...same story with AZ.
 
Leskova
Posts: 5547
Joined: Wed Oct 08, 2003 3:39 pm

RE: French Government Selling 17.7% Stake In AF-KLM

Thu Dec 09, 2004 10:17 pm

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...

Regards,
Frank
Smile - it confuses people!
 
raivavae
Posts: 81
Joined: Wed Jul 25, 2001 6:56 am

RE: French Government Selling 17.7% Stake In AF-KLM

Thu Dec 09, 2004 11:00 pm

smart comment Leskova!