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→French Government Ends France Telecom Control
==French Government Ends France Telecom Control==
==French Government Ends France Telecom Control==
In 2004, the French government decided to end its majority control over France Telecom and sold as much as 299 million shares reducing its stakes to the company to less than 50 percent. The sale was initiated by then Finance Minister Nicolas Sarkozy to cut the public debt of France and bring it within the standard limitation (60% of gross domestic product) set by the European Union. Sarcozy's hope in reducing the government's holdings in the company will ""increased room to maneuver in order to adapt to future developments in the telecommunications market."<ref>[http://www.nytimes.com/2004/09/02/news/02iht-ftel_ed3_.html?pagewanted=1&_r=1 Paris cedes control of telephone company]</ref>
==References==
==References==