France not dismissing decreasing Renault stake, but must be at right cost

French finance minister Michel Sapin on Thursday did not dismiss France decreasing its stake in Renault, however included any sale would need to take place at the best possible market conditions.

France has boosted its stake in Renault in recent years, presently holding simply under 20 percent of the company’s share capital, but Sapin informed BFM radio station that the state had not raised its holding in the business “for eternity.”

Inquired about a future possible sale or decrease of that stake, Sapin responded: “I look at exactly what was the cost at the moment when we bought it and where the cost is now, and I don’t want to make French individuals lose money.”

“There will be moments when we have to relocate to purchase or recapitalize, which is what we did with EDF and Areva, then there are other stakes that could be sold, but it would need to be done in the best possible conditions in order to safeguard the interest of the state,” he included.

Renault shares are dropped by around 6 percent until now this year.