16 September, 2000

Political wish that Taittinger remains French

According to the financial newspaper Les Echos the French government currently work in order to secure a French buyer for Champagne Taittinger.

This information appears in the aftermath of a summer, where American Pepsicos possible buy of Danone led to such much debate and political fuss, that legislation may be the solution in order to prevent such "hostile takeovers". Quite interesting French media consequently uses these two terms together.

Belgian behind the scenes
The Belgian financier Albert Frere waits behind the scenes with a lot of millions of euros cash in order to take over the prestigious company. But on a political level some apparently work with other plans.

Thus members of the Taittinger-family have met government officials and also the current owner of Taittinger, American Starwood Capital, has met the French bank Credit Agricole du Nord Est to find a solution around the bank. All this according to the French financial newspapers edition yesterday, where however no sources for the information were mentioned.

Read more at Les Echos.

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