"We did not do very well"
in the Suez-Veolia merger project, admitted this Thursday evening the Minister of the Economy Bruno Le Maire, admitting errors
"in the method"
.
Read also: Determined to succeed in its takeover bid on Suez, Veolia refuses to negotiate with Ardian
"Decisions that I regret?" No. Errors in the method? Yes ”
, affirmed Bruno Le Maire on LCI, evoking the operation of merger between the two historical giants of water and waste, soap opera on the place of Paris since last summer.
"Veolia-Suez, basically, it was absolutely undecidable (...) When you are both judge and party, you are both a reference shareholder of Engie, so you want to sell at the best price"
, he explained.
“At the same time, you are the guaranteeing state that the operation is friendly.
We did not do very well on this operation, let's be clear, ”
he continued.
Voting rights suspended
Veolia has become the largest shareholder of its eternal rival, after having acquired 29.9% of it from the Engie group, of which the State is a reference shareholder.
State representatives voted no to the sale, but that did not prevent the energy company from selling its shares on October 5, for 3.4 billion euros.
But Veolia in particular cannot enjoy its voting rights, suspended by the courts pending consultation with Suez staff, or even carry out its
“friendly”
takeover
bid
for the rest of the shares.
Suez, who refuses to be absorbed, recently revealed the existence of a
"plan B"
with an offer from French funds Ardian and American GIP.
