Thomson: No Sale

Bidding will start anew for the defense-electronics giant

Selling off bankrupt state-owned companies to the highest bidder is generally a routine affair in Europe. France is a big exception. Government officials in Paris still buckle when confronted with the raw force of economic nationalism. On Dec. 3, a state privatization commission, unnerved by recent protests, nixed the sale of ailing state-owned defense and electronics giant Thomson to Lagadere Group and Korean partner Daewoo Corp.

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