France clears 4.7% Renault overhang with trade at no discount

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France clears 4.7% Renault overhang with trade at no discount

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A.G. photographe - Fotolia

On Thursday night the French government sold a 4.7% stake in Renault, the car maker, via an accelerated bookbuild that was priced without any discount, thanks largely to its removal of an overhang. The stock leapt on Friday.

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