First Published: 2009-03-12

 
France may allow Gulf funds into nuclear giant
 

FT reports French government may allow Gulf states' sovereign wealth funds to take tiny stakes in Areva.

 

Middle East Online

Areva is the world's biggest builder of nuclear reactors



PARIS - The French government may allow Gulf states' sovereign wealth funds to take minority stakes in the nuclear giant Areva, the Financial Times reported Thursday.

The report quoted people close to the matter as saying exploratory talks have been held on offering stakes of one to five percent to the funds -- state agencies that manage billions of dollars in oil and has revenue.

A spokesman for Areva, which is 90 percent owned by the French state, declined to comment on the report.

Areva, the world's biggest builder of nuclear reactors, needs fresh capital to maintain a strong position in a global revival of the industry and President Nicolas Sarkozy has ordered a review of its future.

Investment from partners in the United Arab Emirates and Saudi Arabia could also help Areva strengthen its standing in a region that is interested in developing nuclear energy.

Areva, which is also involved in uranium mining and recycling nuclear waste, is facing pressure to find new capital sources after Germany's Seimens decided to pull out of a joint venture with it in January.

 

Two Danes stabbed by man shouting ‘Allahu Akbar’ in Gabon

UN considers rejecting Trump Jerusalem decision

Israeli air traffic halted due to strikes

Iran's schools suffocate in smog

Christmas in Jordan dimmed by Jerusalem crisis

Turkey slams Austria ‘discrimination’

Tunisia elections delayed

Istanbul summit strong on the rhetoric, weak on concrete steps

Morocco’s Islamists elect new leader, walking away from predecessor’s populism

Palestinians call for protests against Pence Jerusalem visit

Palestinian billionaire detained in Saudi Arabia

Egypt opens Rafah crossing for four days

Turkey court releases 7 suspects in New Year attack trial

Palestinian activist killed in Gaza protests

Foreign fighters a worry as IS struggles to survive

Over half Syrian refugees in Lebanon live in 'extreme poverty'

Palestinians killed in continuing protests over Jerusalem occupation

Bourita: Extraordinary meeting between ECOWAS, Morocco to be held beginning of 2018

Saudi-led air strikes, clashes as Yemen forces battle rebels

Sahel force funding shows terrorism fight is Saudi 'priority'

UN 'appalled' at mass execution of jihadists in Iraq

Iraq's Sistani says Hashed should be under government control

Middle-class Egypt adapts as costs soar

Somalia's budget meets IMF terms

Israel PM questioned in graft probe

US says Iran supplied ballistic missile to Yemen rebels

Lebanon approves bid for oil, gas exploration

US to present 'irrefutable evidence' of Iran violations

Istanbul 'to remove Gulen links' from street names

Iraq hangs 38 jihadists

Pence to visit Middle East despite controversy

Hamas chief calls for continued Jerusalem protests

EU to repatriate 15,000 migrants from Libya in two months

Syria Kurds fear US ally will desert them after IS defeat

Israeli drugmaker Teva to cut 14,000 jobs over two years

Turkey rescues 51 migrants stranded on rocks

Saudi, UAE hold talks with Yemen Islamists

18 killed after bomber strikes Mogadishu police academy

Israeli air strikes target Hamas military facilities

US-led air strikes kill 23 civilians in Syria

Israel union calls nationwide strike over pharmaceutical giant job cuts

UN envoy urges Putin to press Assad for elections

Yemen's Huthi rebels release pro-Saleh media staff

Israel intelligence minister invites Saudi prince to visit

Saudi-led strikes kill 30 in rebel-run Yemen prison