Sanofi drops on talk Total to sell stake -traders
PARIS/LONDON, June 10 |
PARIS/LONDON, June 10 (Reuters) - Shares in French pharmaceutical group Sanofi-Aventis (SASY.PA) dropped 2.5 percent on Tuesday as traders cited market talk that Total (TOTF.PA) could soon sell its stake in the company.
"There is a vague rumour of Total selling its stake," one trader said.
A spokeswoman at Total, which has a 13.1-percent stake in Sanofi, declined to comment, while a spokesman at Sanofi also declined to comment.
On May 16, Total said it remained determined to sell its stake in Sanofi, but said it was in no hurry to do so for the moment given Sanofi's weak share price.
(Reporting by Sitaraman Shankar in London, Blaise Robinson, Noelle Mennella and Benjamin Mallet in Paris)
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