Silence Is Golden in French Mergers

The French government should be applauded for not interfering with the tie-up between Lafarge and Holcim. Italy should take note when mulling Pirelli's fate.

Cementing a deal without government meddling.

Photographer: Martin Leissl/Bloomberg

The birth pangs accompanying the year-long effort to merge France's Lafarge with Switzerland's Holcim have been convulsive, to say the least.

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