June 4, 2020 / 5:42 PM / a month ago

France to set up 500 mln euro fund to protect startups - Figaro

PARIS, June 4 (Reuters) - The French government plans to set up a 500 million euro fund to protects its startups from potential foreign takeovers, French daily Le Figaro reported on Thursday.

The paper wrote that public investment bank Bpifrance will manage a fund that will be launched with a capital of 150 million euros, which could be increased to 500 million euros ($567 million) from 2021. Its mission will be to protect national sovereignty by taking minority stakes in strategic companies, the paper reported. ($1 = 0.8822 euros) (Reporting by Gwenaelle Barzic and Michel Rose; Writing by Geert De Clercq)

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