PARIS Oct 22 The board of Veolia Environnement
gave the green light on Monday for a deal to cut its
stake in transport joint venture Veolia Transdev to 40 percent
from 50 percent, Les Echos newspaper reported.
Its partner, French state-owned bank Caisse des Depots et
Consignations (CDC), would increase its holding to 60 percent,
the paper said.
Veolia and CDC declined to comment on the board meeting.
Veolia Environnement put its 50 percent stake in Veolia
Transdev up for sale in December as part of a plan to shed more
than $6 billion in assets in order to cut debt and costs.
(Reporting by Blandine Henault and James Regan; Editing by