France’s Next President May Face $3 Billion Nuclear Hangover
- Not enough left in the kitty to bail out both EDF and Areva
- Sale of assets from phone company to Renault may be considered
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Whoever succeeds Francois Hollande as France’s president may find one of their first tasks in office will be selling off some of the nation’s prized assets to prop up the state’s nuclear industry.
That’s because the government is as much as 3 billion euros ($3.2 billion) short of the 7.5 billion euros it has said it needs this year to fix the financial problems of Areva SA and Electricite de France SA, said two government officials with direct knowledge of the matter. Hollande will try to find an answer before he leaves office in June, one of the people said. If he can’t, his successor must decide how to plug the gap, said the other person.