 France needs the money to help cut its public deficit |
France is examining preliminary offers from 18 bidders hoping to take control of its three main motorway operators. In a controversial move, the government aims to raise between 11bn and 13bn euros ($13.5bn-$15.9bn; �7.5bn-�8.8bn) and use the cash to cut national debt.
The government will invite formal bids before naming winners in the autumn.
Spain's Sacyr Vallehermoso was the first firm to say it had tabled an offer. Other bidders are thought to come from France, Italy and Australia.
Prospective buyers
Sacyr Vallehermoso's motorway division has made an offer for two of the three road operators up for sale.
Finance Minister Thierry Breton said in a statement he was delighted with the quality of the bids which will be examined in coming weeks.
However the ministry did not name any of the bidders or give details of their offers.
"Eighteen investors from the industrial and financial sectors, both French and foreign firms, have put in indicative offers for one or more of the companies," it said in a statement.
French construction group Vinci is widely believed to have made an offer. It already owns one transport firm, Cofiroute, in south west France.
Three other motorway operators - Abertis of Spain and Australia's Macquarie and Italy's Autostrade - are also widely thought to have tabled preliminary and non-binding offers.
The government plans to sell its entire 50.3% stake in Autoroutes du Sud de la France (ASF), its 74.3% holding in Societe des Autoroutes du Nord et de l'Est de la France (Sanef), and a 70.2% chunk of Autoroutes Paris-Rhin-Rhone (APR).
France needs the cash from the asset sale to help it bring its budget deficit back under the eurozone limit of 3% of gross domestic product.
Some of the cash is also expected to be used to finance new transport infrastructure projects.
Sale attacked
The privatisation move - one of the first major decisions made by new prime minister Dominique de Villepin's centre right government - has sparked widespread anger.
Opponents claim the move is a "short term" one, and argue that the government would make more money in road tolls by holding on to the stakes rather than selling them off.
Francois Bayrou, chairman of the centrist UDF party, has vowed to try to block the sale when it comes to parliament.
The opposition Socialist party, meanwhile, has condemned the process as "an error" and attacked the sale price for being too low.
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