Who'll Snap Up The State Jewels Of Europe?Stewart Toy
After a pause dictated by politics and weak stock markets, Western Europe's governments are trying to restart their huge sell-off of state-owned businesses. The first in a fresh surge of deals comes on June 26, when France will offer investors $2 billion worth of stock in Usinor Sacilor, Europe's biggest steelmaker. Germany, Italy, and other countries are polishing up megadeals for the fall and beyond (table). Over the next 18 months, figures Morgan Stanley & Co., Europe will try to peddle shares in state companies for a fat $30 billion.
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