Tuesday 30 November 2010

France rejects Qatar's Areva investment terms-paper | Reuters

French President Nicolas Sarkozy rejected conditions set by Qatar for its participation in a planned capital increase by French nuclear reactor maker Areva (CEPFi.PA), Les Echos said in a preview of its Monday edition.

Qatar is only prepared to take part in the capital hike if it can invest in Areva's mining activities, Les Echos newspaper said. The Financial Times has also reported that Qatar is seeking guarantees over the value of Areva, for example by having an option to take shares in its uranium mining division.

Areva, which is almost 90 percent owned by the French state, is planning a capital increase which it hopes will raise up to 3 billion euros ($3.94 billion) to finance future development projects."

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