French constitutional court clears ADP privatization

May 16, 2019

PARIS (Reuters) – France’s top constitutional court on Thursday approved a recently enacted law authorizing the sale of the government’s controlling stake in Aeroports de Paris.

The government wants to sell part or all of its 50.6 percent stake in ADP, which operates airports including Paris Charles de Gaulle and Orly. But a group of opposition lawmakers is seeking a referendum to overturn the legislation, citing concerns over the loss of government revenue and influence.

In its ruling, the State Council also struck down measures to end gas and electricity retail price regulation that were part of the same government-sponsored law, known as the PACTE.

The constitutional court last week ruled that opponents of the ADP sale can attempt to gather the 4.5 million public signatures required to force a referendum. France’s stake is worth about 7.6 billion euros ($8.5 billion).

(Reporting by Inti Landauro; Editing by Laurence Frost)

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