Usinor privatisation; when and how much?

摘要

THE last week has seen three important steps taken along the route towards privatisation of Usinor Sacilor, Europe's largest steel producer and the world's third largest. The company has published its first positive set of annual results for four years which show a net profit of Ffrl.5bn. It has appointed two banks to look after its interests during the sale, and the government has called for banks to submit their candidatures to advise the state on the sell-off. There remain, however, two questions which have worked the French financial community into a frenzy: when the sale will take place, and how much it is deemed to be worth. A third question - why there has been so little controversy surrounding the sale - should perhaps be added.