November 13, 2018 / 7:00 AM / 6 months ago

France eyes ADP privatisation in spring 2019; wary of volatile markets

PARIS, Nov 13 (Reuters) - France is still considering a privatisation of airports operator ADP in the spring of 2019, although the head of the country’s APE state shareholding body was “cautious” over any firm timetable, given the volatility in financial markets.

“We will see how the markets are at that moment. They are volatile, and that it is why I remain cautious,” Martin Vial, who heads the APE state shareholding organisation, told Radio Classique on Tuesday.

ADP has long been tipped as one of the prime candidates to kick off a wave of privatisations as the government seeks to raise money for a new fund to finance innovation.

Based on current prices, the government’s 50.6 percent stake in ADP is worth roughly 9 billion euros ($10.1 billion).

$1 = 0.8895 euros Reporting by Sudip Kar-Gupta and Gilles Guillaume, Editing by Sherry Jacob-Phillips

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