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"French" solution better in any SocGen bid: Gueant

PARIS
Sun Feb 3, 2008 3:04pm EST

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Claude Gueant, the chief of staff of French President Nicolas Sarkozy, speaks to reporters at Beirut airport November 9, 2007. Gueant reiterated on Sunday that France preferred any bid for domestic bank Societe Generale to be a French one rather than a foreign one. REUTERS/ Sharif Karim

PARIS (Reuters) - Claude Gueant, the chief of staff of French President Nicolas Sarkozy, reiterated on Sunday that France preferred any bid for domestic bank Societe Generale (SOGN.PA) to be a French one rather than a foreign one.

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"It would be better if it was French rather than foreign," Gueant told the "Grand Rendez-Vous" programme held jointly by Europe 1 radio station, TV 5 Monde and Le Parisien newspaper.

Gueant also repeated comments made earlier in an Sunday interview with Le Parisien that France preferred any bid for SocGen to be a "friendly" bid rather than a hostile one.

He added, however, that France would not have legal means to oppose any bid by a foreign bank and that SocGen could remain independent.

SocGen has been seen as a bid target since it revealed on January 24 4.9 billion euros ($7.28 billion) of losses which it has blamed on rogue trades caused by Jerome Kerviel, a 31-year old employee of the bank.

Kerviel is under investigation and faces possible charges.

(Reporting by Sudip Kar-Gupta)
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