PARIS (AFP) -- French nuclear power group Areva has sold its
stake in oil giant Total in order to fund its own projects, the
Figaro newspaper reported Saturday.
Neither company would comment on the report, which said that
Areva gave up its 0.4% share of Total valued at nearly 400 million
euros (540 million dollars) some two weeks ago.
Areva is seeking some EUR3 billion to finance its investments
and said in February part of the cash would be raised by divesting
its holdings in other companies.
Areva, which still holds 1.2% of GDF Suez, is reportedly under
pressure from the French government to hive off its T&D
subsidiary specialising in electricity transmission and
distribution, which Alstom had been obliged by financial troubles
to cede to the nuclear group in 2004.
Alstom, whose finances have since improved, said earlier this
month that it was interested in buying back T&D at a cost
estimated at between EUR3 billion and EUR5 bill