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April 7, 1997updated 05 Sep 2016 12:58pm


By CBR Staff Writer

It is France and Germany, not the UK pressing for a pan-European defense policy, so it seems a little hypocritical that when the first practical case arises since the agreement between President Chirac and Chancellor Kohl, France should declare that it will not allow GEC Plc to bid for the state’s 58% stake in Thomson-CSF SA for national security reasons. The Finance Ministry accepts as admissable the offers it has received from Groupe Lagardere and from Alcatel Alsthom SA bidding with Dassault Industrie SA. GEC refused to confirm its proposal to buy the state stake, but it was widely reported in French newspapers last week. GEC did say on Friday however that it was holding discussions with both Lagardere and Alcatel Alsthom about joining their bids.

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