Skip to content

Subscriber Only

Pursuits

France Inc. Bristles Over Law Giving Votes to Select Few

The government’s determination to force compliance with its “Florange Law” -- promising extra voting power to those owning stocks for more than two years -- became apparent last week when it increased its stake in Renault SA to scupper the carmaker’s attempt to avoid making the change. — The government’s determination to force compliance with its “Florange Law” -- promising extra voting power to those owning stocks for more than two years -- became apparent last week when it increased its stake in Renault SA to scupper the carmaker’s attempt to avoid making the change.
Photographer: Simon Dawson/Bloomberg

Mathieu Rosemain

April 14, 2015, 3:00 AM UTCUpdated onApril 14, 2015, 11:45 AM UTC

Billionaire Vincent Bollore and France’s Socialist government aren’t obvious bedfellows, yet the two have found common cause in trying to secure double-voting rights for long-term French investors.

The government’s determination to force compliance with its “Florange Law” -- promising extra voting power to those owning stocks for more than two years -- became apparent last week when it increased its stake in Renault SA to scupper the carmaker’s attempt to avoid making the change.