France could cut GDF stake to finance steel rescue- union

PARIS Wed Nov 28, 2012 1:31pm EST

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PARIS Nov 28 (Reuters) - The French government is considering selling a 1 percent stake in energy group GDF Suez to finance a possible rescue of ArcelorMittal's Florange steelworks, a CFDT union official said on Wednesday after talks with the industry minister.

"The state would get (the cash from the sale of) 1 percent of GDP Suez, which would amount to 420 million euros," CFDT official Jean-Marc Vecrin said following a meeting with Industry Minister Arnaud Montebourg, who wants the state to step in and prevent the closure of two blast furnaces at Florange.