July 7, 2017 / 1:27 PM / in 4 months

France to sell 10 billion euros worth of state assets: source

PARIS (Reuters) - France will sell 10 billion euros ($11.40 billion) worth of state assets to finance projects geared towards innovation, a finance ministry source said on Friday.

FILE PHOTO - French Finance Minister Bruno le Maire attends a national tribute ceremony for late French politician Simone Veil, Holocaust survivor and pro-abortion campaigner, at the Hotel des Invalides in Paris, France, July 5, 2017. REUTERS/Michel Euler/Pool

“It will be done as soon as market conditions will allow,” the source said, adding that these would mostly concern minority stakes.

While campaigning for the presidency, Emmanuel Macron had said he would set up a 10 billion euro fund to promote industrial and research projects, but official comments over the past days had raised questions over whether this would all be financed by the sale of state stakes or not.

Finance Minister Bruno Le Maire on Thursday said the sale of state assets would start in September.

Reporting by Myriam Rivet; Writing by Ingrid Melander; Editing by Andrew Callus

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