Financial Times FT.com

France lists sectors to be protected from foreign bids

By Peggy Hollinger in Paris and George Parker in Brussels

Published: September 1 2005 03:00 | Last updated: September 1 2005 03:00

Casino gambling and biotechnology will be among the 10 sectors the French government intends to protect from foreign bids as it implements European regulations on the free movement of capital.

Surprisingly, after a flag-waving outcry this summer over unfulfilled rumours of a bid for Danone by PepsiCo of the US, the food industry is not expected to be on the list. Casinos are considered crucial in the fight against money laundering.

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