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French Senate rejects privatisation plans for airport group ADP

Reuters

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)


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