French Senate rejects privatisation plans for airport group ADP


PARIS, Feb 5 () - The French Senate rejected a proposal on Tuesday to privatise airport operator ADP in a temporary setback for government plans to raise around 10 billion euros ($11.41 billion) for innovation.

As part of the "Loi Pacte" legislation aimed at the privatisation of some state-controlled enterprises, ADP was expected to be among the first wave of companies to move to private control.

The French government plans to transfer a majority of ADP's share capital, in which it holds a 50.6 percent stake, to the private sector.

The bill could still be passed when it returns to the lower house, where President Emmanuel Macron's LREM ruling party holds a comfortable majority.

ADP operates the Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget airports and manages 10 other civil airports in France. ($1 = 0.8761 euros)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Other Topics

World Markets Politics


Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at and via Reuters TV.

Learn More