France to create 500 million euro fund to protect startups – Figaro


PARIS, June 4 (Reuters) – The French government plans to create a € 500 million fund to protect its startups from possible foreign takeovers, French daily Le Figaro reported on Thursday.

The newspaper writes that the public investment bank Bpifrance will manage a fund that will be launched with a capital of 150 million euros, which could be increased to 500 million euros (567 million dollars) from 2021. Its mission will protect national sovereignty by taking minority stakes in strategic enterprises, the newspaper reported. ($ 1 = 0.8822 euros) (Report by Gwenaelle Barzic and Michel Rose; Writing by Geert De Clercq)

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