Total to rid Itself Of French State's Golden Share

France will give up its controlling share in Total Fina Elf, Europe's third-largest oil company, the nation's finance minister said.

Last month, the European Union's supreme court struck down a law allowing the French government to control the company with as little as one so called “golden share”.

“I will take on board the court decision and will abolish the privileged share that the state holds in Total Fina Elf,” said Finance Minister Francis Mer.


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