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The group’s CEO, Patrick Pouyanné, announced last week that he was considering a primary listing on the New York Stock Exchange. A decision against which the Minister of the Economy protests.
Bercy refuses to see TotalEnergies go into exile in New York. Invited on BFMTV this Thursday morning, the Minister of the Economy and Finance opposed the idea formulated by the CEO of the energy company that the main listing of his company be relocated to the United States, and no longer in France. “I’m here to make sure that doesn’t happen.”he said, bluntly, regretting “a decision that is serious”.
“We need Total”A “asset for France”particularly in the event of a surge in oil or energy prices, Bruno Le Maire justified himself. “It’s important to keep Total, to keep Total’s head office in France, and for Total’s main listing to remain in France”, insisted the boss of Bercy. “Is it the supreme interest of the nation to keep Total’s head office in France and Total’s main listing in France? Yes. And so, I will fight for that, because it is the best interest of the French.”
At the end of April, Patrick Pouyanné declared to Bloomberg that the possibility of a main listing on the other side of the Atlantic was being explored in the name “business and not emotion”. “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? Do they prefer stocks whose main listing is in New York or in Europe? I believe that when you ask the question, you have the answer”, had developed the businessman. Who, however, refuted the idea of moving the group’s head office outside France.
This speech took place in a context where the energy company is regularly singled out by organizations such as politicians, who criticize its strategy, its action and its profits. TotalEnergies’ main problem, however, remains its difficulties in “find funds”, according to Bruno Le Maire. A point to which the union of capital markets, desired by France in Europe, will provide a response, “to find much greater funds at European Union level. So there is no longer any reason to go and get listed” in the United States, launched the minister, addressing the management of the French giant.
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