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L'Oreal says Sanofi share sale not imminent

Wed Jun 20, 2007 6:17am EDT

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PARIS, June 20 (Reuters) - French cosmetics giant L'Oreal (OREP.PA) will not sell its 10.6 stake in French drugmaker Sanofi-Aventis (SASY.PA) in the near future and said its position had not changed after Sanofi won a U.S. patent trial on its blockbuster bloodthinner drug Plavix.

"We stick to our position," a L'Oreal spokesman said on Wednesday. "Our stake is not strategic, its historical. We don't have any particular project in mind with the participation of about 10 percent in Sanofi. A share sale is not imminent."

Oil company Total (TOTF.PA) and L'Oreal, which together own about 23 percent of Sanofi, have both said they don't consider their stakes as strategic.

However, Total says it will sell its holding soon. Sanofi shares fell 0.2 percent to 61.91 euros by 1004 GMT, while the DJ health index .SXDP was little changed.

((Reporting by Caroline Jacobs, editing by Greg Mahlich; paris.equities@news.reuters.com; Reuters Messaging: caroline.jacobs.reuters.com@reuters.net; +33 1 49 49 53 43)) Keywords: SANOFI LOREAL/

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