French State “to decide Suez-Gaz de France merger”

The French state is responsible for making the decision whether or not the planned merger between Suez and state-controlled Gaz de France (GdF) can go ahead, Suez boss Gerard Mestrallet said.
"We are determined to complete this deal but it is up to the state, the main shareholder of Gaz de France, to let its position be known on this link-up which has a strong industrial logic," Mestrallet told shareholders at the company’s annual general meeting.
Suez had already vowed to go ahead with its planned €80 billion ($108.9 billion) tie-up with GdF, arranged last year by the government after unwelcome advances towards Suez by Italy’s Enel, Reuters reported.
A French court has postponed the completion of the deal until the full liberalization of European energy markets on 1 July, tying its fate to the outcome of the French elections.

(Upstream Online)


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