International Business
<i> Times Staff and Wire Reports</i>
France Authorizes Privatization of Three Firms: The nation published a decree for the privatization of aluminum maker Pechiney, auto maker Renault and shipping firm Compagnie Generale Maritime. Publication in the Journal Officiel means the privatization process can begin, although it is widely expected to start in the fall. Renault will probably be among the first to be sold off as the state already began selling shares in the company last fall and retains only a 50.1% stake.
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