After the European Commission set only minor conditions before nodding through the enormous $2,100m of new state bail-out subsidy for Compagnie des Machines Bull SA yesterday, the French government said it would open the bidding for stakes in the company soon – NEC Corp is likely to raise its stake. The tender will be open to industrial and financial companies interested in taking stakes in Bull, the Industry Ministry said. The Commission refused to comment publicly on which of Bull’s interests it wanted the government to sell off, saying it was confidential as it could undermine the privatisation strategy, but a draft of the decision seen by Reuters said Bull should sell off Nipson – large printers, Telesincro – Smart Cards in Spain, and Compuprint – medium-scale printers. Bull must return to profit within a reasonable time, must adopt measures to compensate for any negative effects on competition, that it must limit the aid to a strict minimum, and must carry out the agreed restructuring plan, the Commission statement said.
