In an effort to reduce the nation’s public debt, France’s Finance Ministry has just sold a five per cent stake in France Telecom for €2.65 billion. 

Rumours are circulating that the new administration under President Nicolas Sarkozy will sell more holdings in other state-controlled companies, such as the gas and electric utilities and aerospace industry, in an effort to cut taxes by €11 billion and encourage further economic development in
France. Read more.