Bloomberg
Questioned by Bloomberg, Emmanuel Macron indicated this Monday, May 13 that he would “not at all” be delighted if the French oil giant TotalEnergies left the Paris stock exchange.
ECONOMY – Not happy. Questioned by Bloomberg on the sidelines of the Choose France summit, Emmanuel Macron indicated this Monday, May 13 that he would not ” no way “ delighted if French oil giant TotalEnergies decided to move the main listing of its stock from Paris to New York.
“ I would be very surprised. I’m waiting for confirmation, I understood that these were rumours”the president further affirmed to the journalist of Blomberg who asked him if he would be ” thrilled “ of such a decision.
The affair started from surprise statements by the group’s boss, Patrick Pouyanné, also to Bloomberg. In an interview published on April 26, the head of TotalEnergies said he was considering a primary listing on the New York Stock Exchange.
“A question of business”
Nearly half of TotalEnergies’ shareholders are now made up of North American institutional shareholders (pension funds, asset managers, insurers, etc.).
“It’s not a question of emotion. It’s a business question”added the company director, while ensuring that the head office of this flagship of the CAC 40 would remain in Paris.
His main argument: “a growing American shareholder base”which leads the company to question how to “providing easier access to shares for American investors”he explained to analysts on April 26.
“ We are facing a situation in which European shareholders are sellers or holding steady, while American shareholders are buyers. So what would be most practical for American shareholders? »had supported Patrick Pouyanné.
Need ” of a real internal market » European
Faced with this reflection, the Minister of Economy and Finance Bruno Le Maire had already said at the beginning of May that he intended to fight for this move from the Paris Stock Exchange “does not take place”.
Emmanuel Macron also spoke on Monday on the “need for a real internal market” European. “Energy, finance or telecommunications are key sectors where the single market does not exist, which was a choice from the very beginning”he observed, believing that a “single market approach” would be “much more effective”.
Asked about the scenario of a takeover of a French bank by a European counterpart, the Head of State replied: “this is part of the market, but acting as Europeans means needing consolidation as Europeans”.
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