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Veolia: will not sell its 29.9% stake in Suez

( - Veolia said yesterday evening that its 29.
9% stake in Suez is not and will not be for sale.

"They constitute the first step in the inevitable construction, and under French control, of the world champion of ecological transformation; they are not an element of financial strategy," the group said.

Management believes that any project that would directly or indirectly involve Veolia's sale of its stake in Suez's capital, or other divestments that would distort the group's industrial project that it is implementing, is considered hostile by Veolia.

Antoine Frérot, head of Veolia, said, "I remain open to discussion with the Board of Directors of Suez within the framework of the project that I sent them last week".

In early trading on Monday, the Suez share is up 2.7%, while Veolia is down over 3.5%.

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