France does not rule out reducing or selling Renault stake depending on market conditions

According to foreign media reports, French Finance Minister Michel Sapin said on Thursday that France has not ruled out the possibility of reducing its stake in Renault if market conditions permit.

The French government has been increasing its stake in Renault in recent years, but currently holds less than 20%. Apin told BFM radio that the French government will never control the entire company by increasing its stake.

Asked if he might sell or reduce his stake in the future, Sapin said: "Whether it will be sold or reduced depends on the current share price compared to the price at which we bought it, and I really don't want the French people to suffer losses as a result."

He added: "We make purchases or adjustments based on timing, as we did with EDF (Electricité de France) and Areva (French energy company), and we also have to have excess shares to put on the market, but we will consider the best conditions of the market environment in order to protect the interests of the country."

So far this year, Renault shares have fallen by nearly 6% compared to last year.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.