France to set up 500m euro fund to protect startups: report

[PARIS] The French government plans to set up a 500 million euro (S$792.52 billion) fund to protects its startups from potential foreign takeovers, French daily Le Figaro reported on Thursday.

The paper wrote that public investment bank Bpifrance will manage a fund that will be launched with a capital of 150 million euros, which could be increased to 500 million euros from 2021. Its mission will be to protect national sovereignty by taking minority stakes in strategic companies, the paper reported.

REUTERS