February 26, 2014 / 12:35 PM / in 4 years

French state body says to keep Renault, Air France holdings for now

PARIS, Feb 26 (Reuters) - The French state expects to maintain its holdings in Renault and Air France-KLM for now, the head of the state agency which manages France’s state holdings told a parliamentary committee on Wednesday.

“This company (Renault) has not completed its different stages of strategic development because the structure of its alliance with Nissan is not fully resolved and to us it appears useful to remain in its capital while that issue remains,” APE head David Azema said of the state’s 15 percent stake.

“I could say the same thing of Air France, where I believe the state’s holding in this company stabilises it and prevents it from being seen as a potential target...,” Azema told the committee of the 15.9 percent state holding in Air France-KLM. (Reporting by Jean-Baptiste Vey; Writing by Mark John; Editing by James Regan)

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