May 15, 2014 / 11:51 AM / in 4 years

French govt decree on foreign takeover "bad idea"- employers

PARIS, May 15 (Reuters) - France’s main employers’ group said on Thursday that a new government decree allowing the state to block foreign takeovers of French firms was a bad idea because it sent the wrong signal to outside investors.

“It’s a bad idea because it’s very defensive, when what we need to be is on the offensive,” Pierre Gattaz, head of the Medef employer group, said in a statement.

“Let’s not be naive. Other countries also have defensive mechanisms to protect sensitive firms, but in this case it appears to be a delayed response to to a structural problem.”

Reporting by Jean-Baptiste Vey; Writing By Nicholas Vinocur; Editing by Andrew Callus

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