Gaz de France share offer for May 9

PARIS, Jan 24 (AFP) – The French state-owned gas group Gaz de France should be ready to open its capital to private shareholders on May 9, the financial daily Les Echos said Monday.

It added, however, that the government would confirm the date or modify it depending on the “political and social climate”, a reference in part to strong trade union opposition to the move.

GDF chairman Jean-Francois Cirelli gave the date of May 9 as the start of a subscription period in a memo to company executives at the end of last week, the report said.

The issue was also said to be on the agenda of the gas company’s next board meeting on Wednesday.