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French Defense Minister Drafts Small Business Law, Echos Reports

French Defense Minister Jean-Yves Le Drian said he is drafting a small-business law for the armaments and defense industry, Les Echos reported today citing an interview.

Le Drian also said he supports the creation of a “golden share,” or a veto right for the state, in French defense industries, the newspaper said.

The minister added that the state would go ahead with a 1 billion-euro ($1.3 billion) contract for Thales SA (HO) to replace the army’s radios after the previous administration’s Finance Ministry opposed it, the news paper said.

To contact the reporters on this story: Helene Fouquet in Paris at hfouquet1@bloomberg.net.

To contact the editor responsible for this story: Vidya Root at vroot@bloomberg.net

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