France's 'economic patriotism' is not what it seems

April 24, 2015 7:04 AM

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France's 'economic patriotism' is not what it seems

PARIS (Reuters) - Foreigners are set to take over several French blue chip firms this year and will largely do what they want with their prizes - showing the limits of new laws passed in the name of "economic patriotism".

A decree extended state veto powers on foreign bids to more sectors deemed strategic last year and legislation taking effect this year encourages double-voting rights for the state and other long-term shareholders.

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