French govt decree on foreign takeover "bad idea"- employers
PARIS May 15 (Reuters) - France's main employers' group said on Thursday that a new government decree allowing the state to block foreign takeovers of French firms was a bad idea because it sent the wrong signal to outside investors.
"It's a bad idea because it's very defensive, when what we need to be is on the offensive," Pierre Gattaz, head of the Medef employer group, said in a statement.
"Let's not be naive. Other countries also have defensive mechanisms to protect sensitive firms, but in this case it appears to be a delayed response to to a structural problem."
(Reporting by Jean-Baptiste Vey; Writing By Nicholas Vinocur; Editing by Andrew Callus)