September 5, 2018 / 8:36 AM / 2 months ago

UPDATE 1-France will not sell ADP stake until mid-Feb at least -CEO

* Airports operator represents bulk of France’s privatisation plan

* Lottery monopoly FDJ is first in line-FinMin (Adds Finance Minister’s comments; details)

PARIS, Sept 5 (Reuters) - The sale of the French state’s 50.6 percent stake in airports operator Aeroports de Paris (ADP) will not take place before mid-February 2019, its chief executive Augustin de Romanet said on Wednesday.

The disposal of the stake represents the bulk of the privatisation plan initiated by President Emmanuel Macron to have a lighter touch on the economy and help finance a 10 billion-euro innovation fund.

“This sale of state-owned shares will... certainly not take place before the publication of the company’s results in mid-February 2019,” de Romanet told Radio Classique.

“Afterwards, it will be up to the government to make the decision, of course.”

The government first has to pass a wide-ranging company law that will lift existing limits on how far it can reduce its holdings in companies.

The bill, whose full adoption is not expected before early 2019, will pave the way to also cut stakes in energy group Engie and unlisted lottery monopoly Francaise des Jeux (FDJ), which will be first in line, Finance Minister Bruno Le Maire said on Wednesday.

“(FDJ) will be the easiest one and it will kick off the privatisation process in a few months,” Le Maire told French news channel LCI. (Reporting by Gilles Guillaume and Yann Le Guernigou Writing by Mathieu Rosemain Editing by Richard Lough and Elaine Hardcastle)

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