French parliament approves EDF, GDF reform

22nd July 2004, Comments 0 comments

PARIS, July 22 (AFP) - The French parliament gave final approval Thursday to reforms aimed at allowing for the partial privatization of the state-owned electricity and gas firms, Electricite de France (EDF) and Gaz de France (GDF).

PARIS, July 22 (AFP) - The French parliament gave final approval Thursday to reforms aimed at allowing for the partial privatization of the state-owned electricity and gas firms, Electricite de France (EDF) and Gaz de France (GDF).  

The legislation would transform the companies into public corporations open to the investment of private capital. But the state would retain a 70 percent stake in both enterprises.  

The right-wing UMP and UDF parties backed the law, which was opposed by the Socialist and Communist parties.  

The EDF-GDF overhaul was bitterly contested by trade unions and prompted militant street protests here last month.

 


© AFP

Subject: French news

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