Victory for Villepin as EDF float is biggest since 2000

18 Nov 2005

The French government passed a landmark in its privatisation programme yesterday (Thursday) by completing the IPO of Electricité de France, which closed more than twice oversubscribed and raised at least Eu7.7bn.

The IPO is the largest since AT&T Wireless floated for $10.6bn at the peak of the telecoms boom in April 2000, narrowly surpassing China Construction Bank's $8bn IPO this October. It is also the largest French equity sale since France Télécom's $7.1bn flotation in October 1997.

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