SocGen buyer nationality not an issue: Medef head

Tue Feb 12, 2008 3:42pm EST
 
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PARIS (Reuters) - The head of France's Medef employers' group said on Tuesday that the nationality of a potential buyer for Societe Generale (SOGN.PA: Quote, Profile, Research, Stock Buzz), which has been hit by a rogue trader scandal, should not be an issue even though she would prefer it to be French.

Asked if she would be shocked if SocGen ended in the hands of a European group, Laurence Parisot told LCI television: "I think that all projects are possible for Societe Generale and I wish the best for the company, its shareholders, clients and staff."

She would not say if the best scenario for Societe Generale was to remain independent or seek an alliance with another French bank or a foreign bank.

"In any case, the nationality of a possible buyer should not be a criterion," she said, adding that "if the truth be known" she would prefer a future buyer to be French.

"The good criterion is ... the one that offers the best project for the company and the best valuation for the company," she said.

(Reporting by Laure Bretton, Dominique Vidalon, editing by Richard Chang)

 

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