ADP Shares Plunge After French Privatization Plan Is Put on Hold
- France’s constititional court paves way for referendum plan
- Finance Minister Le Maire says stake sale is suspended
A passenger aircraft taxis on the tarmac at Charles de Gaulle airport, operated by Aeroports de Paris, in Roissy.
Photographer: Marlene Awaad/BloombergThis article is for subscribers only.
Aeroports de Paris shares dropped the most in almost a decade after France’s constitutional court effectively suspended a privatization plan pending the outcome of an opposition-led referendum process.
Stock in the operator of Paris Charles de Gaulle and Orly airports on Friday dropped as much as 9.6 percent, the most since June 2009, wiping out as much as 1.6 billion euros ($1.8 billion) in market value. Citigroup said in a note that the “window of opportunity for the sell-down of ADP has closed, at least for now.”