Sarkozy says Valeo stake meant to fend off investor

Newswire

SAINTE-JULIE, France, Feb 26 (Reuters) - French President Nicolas Sarkozy said the state's strategic fund had taken a stake in car parts maker Valeo to better defend it against an activist investment fund. At a visit to a car parts factory on Thursday he said he had asked the new strategic investment fund to invest in Valeo "so that it would not be left facing an aggressive investment fund". Sarkozy said current low share prices created risks for French companies such as Valeo. Sarkozy ...

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