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France, China Sign $22 Billion Nuclear Accord on Hollande Visit

  • China's CNNC will take stake in Areva, French official says
  • Areva shares jump 5.2% following news of accord, stake sale

France and China signed an industrial cooperation agreement on nuclear waste recycling that could be worth 20 billion euros ($22 billion), with about half of the market for Areva SA, according to the French government. Areva shares rose.

A memorandum on the partnership signed Monday during a visit by President Francois Hollande to Beijing isn’t a commercial contract, said a statement from the French presidency.