France is to privatise its largest toll-road company, Autoroutes du Sud de la France (ASF), which handles more than half a billion paying cards a year.

Although the government refused to comment on the newspapers' reports on the future sale of ASF, the company expressed its confidence last week that the sale will take place before the national elections in April.

In 1997, ASF launched an ambitious plan of doubling its domestic network in 10 years.

The company needs funding to complete the task without adding to its huge debts.

The sale of the company is expected to raise 2bn euros (�1.2bn; $1.7bn) for the state and value ASF at 5bn euros, making it Europe's second largest pay-road firm after Italy's Autostrade.