PARIS (Reuters) - Shares in French airport operator ADP (PA:ADP) rose on Wednesday after BFM Business reported on its website that France would go ahead with plans to privatise ADP, and that the government would look to sell the whole of its 50.6 percent stake in the company.
ADP shares were up 2.9 percent in early session trading, among the top performers on Paris' SBF-120 (SBF120) index.
BFM Business added that the French government would meet on March 10 to finalise its plans for the privatisation of ADP. Based on current prices, the government's ADP stake is worth some 8 billion euros. (7.16 billion pounds)
ADP has long been tipped as one of the prime candidates to kick off a wave of privatisations as the government seeks to raise money for a new fund to finance innovation.
Asked to comment on BFM's report, an official from the French President's office replied that it was too early to either confirm the report or to go into details regarding ADP.
French Prime Minister Edouard Philippe is scheduled to have a meeting on March 10 regarding the government's broader plans to boost growth and help companies.
An official at Philippe's department said they had no further details to give regarding the March 10 meeting.
Earlier this month, France's transport minister had said the government had not yet made a decision on whether or not to privatise ADP.
French construction group Vinci (PA:SGEF) already has an 8 percent stake in ADP and has expressed an interest in investing more if the state decides to sell all or part of its stake.