Total says still plans to sell Sanofi stake soon
PARIS, June 20 (Reuters) - French energy giant Total (TOTF.PA) on Wednesday reiterated that it plans to sell its 13.2 percent stake in French drugmaker Sanofi-Aventis (SASY.PA) soon.
Its comment came after Sanofi and its U.S. partner Bristol-Myers Squibb BMY.PA on Tuesday won a U.S. trial upholding a patent on Sanofi's blockbuster bloodthinner Plavix.
"Our position on Sanofi has not changed since our annual general meeting last month," a spokeswoman at Total said, giving no further details on the timing of a sale.
At the meeting Total's chief executive, Christophe de Margerie, told shareholders that the group had "a mission to sell" Sanofi's stake and would do so "in the near term."
Total's finance director had also told analysts that month a share sale was linked to the outcome of the Plavix trial.
Traders cited the risk of a placing of Sanofi shares on the market by Total or cosmetics giant L'Oreal (OREP.PA) as the main reason behind a weakening of Sanofi stock on Wednesday.
Sanofi shares were trading down 0.2 percent at 61.97 euros by 0920 GMT in a positive overall stock market. This valued Total's stake at around 11 billion euros ($14.77 billion).
((Reporting by Marie Maitre, editing by Greg Mahlich; Reuters Messaging: marie.maitre.reuters.com@reuters.net; e-mail: marie.maitre@reuters.com; telephone: +33 1 4949 5331))
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