French state could scupper Snecma Avio bid-paper

Newswire

PARIS, March 21 (Reuters) - The French government could stymie any bid by state-owned aero engine maker Snecma for Fiat's aviation unit because the price is too high, Les Echos reported on Friday. Les Echos said the French state considered anything above 1.2 billion euros too much. Analysts have valued Fiat Avio at 1.5 billion to two billion euros. Both the French Finance Ministry and Snecma declined to comment on the report, which cited French and Italian sources. Fiat shares fell as ...

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