The Minister of Economy and Finance, Bruno Le Maire, announced on Thursday that he intended to fight for the transfer of the main list of the French giant. Total energy from Paris to New York “it doesn’t happen”.
“I think it’s a serious decision”
“We Need Total”
“I’m here to make sure this doesn’t happen, because I think it’s the right decision,” said Mr. Le Maire on BFMTV / RMC. “Is it really in the country’s interest to keep Total’s headquarters in France and Total’s main listing in France? Yes, so I will fight for that,” he said.
“We need Total. I had the opportunity to say several times how much it was an asset for France to have a large oil company like Total,” he said, referring to the cap at less than €2 per month pump at a time the increase in energy prices.
“It’s not a question of emotion. It’s a business question”
“business case”
At the end of April, the CEO of TotalEnergies said, Patrick Pouyanné, that he was considering a major listing on the New York Stock Exchange, referring in an interview to Bloomberg to the increase of his institutional shareholder base in North America, which was almost the majority. “It’s not a question of emotion. It’s a business question,” said the manager, while ensuring that the headquarters of this top brand of the CAC 40 will remain in Paris.
He specifically referred to Europe’s reluctance regarding its strategy which includes continuing to invest in fossil fuels to continue paying its shareholders and to to finance the transition to low carbon energy.
A Call for a Capital Markets Union in the EU
Bruno Le Maire believed this Thursday that “the best way” to meet the financial needs of TotalEnergies is to establish a capital markets union (UMC) in the European Union, which France wants to influence the savings of Europeans who ‘ to finance the energy attack. and digital transfer.
Today, TotalEnergies already has securities in London and New York, but on a secondary basis. Since 2012, the share of North American institutional ownership has increased from 33% to 48% (including 47% for the United States) in 2023 while the European share ( excluding the United Kingdom) has increased from 45% to 34% over the same period. Institutional ownership represents 78% of the company’s total ownership.
2024-05-02 07:52:43
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