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France to raise €22bn from jets and electricity sales

Electricité de France could raise €20bn and Snecma €2bn

The French government is set to raise up to €22bn ($26.5bn) through the partial privatisations of Electricité de France and Snecma, the jet engine manufacturer.

A timetable has yet to be set for the flotation of EdF, which is being advised by BNP Paribas, with Calyon and Morgan Stanley advising the state.

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