France needs the money to help cut its public deficit

Critics of the sale of France's motorways have claimed that the number of potential bidders proves the assets are being sold too cheaply.

The government aims to raise between 11bn and 13bn euros (�7.5bn-�8.8bn) and use the cash to cut national debt.

But opposition parties have accused it of selling off the "family silver".

Plenty of interest

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).

The privatisation has attracted considerable foreign interest, angering politicians who want the motorways to remain in French hands.

Among those bidding for the government's stake in the three firms are the Spanish firms Sacyr Vallehermoso, Abertis, FCC and Cintra.

Italian roads operator, Autostrade, is believed to have teamed up with a consortium of French finance firms to make a bid.

I am not surprised there are a lot of candidates to buy the motorway companies because it will be very lucrative for them Maurice Leroy, opposition MP

Australian construction firm Macquarie Infrastructure Group is thought to have made a joint bid with French building group Eiffage.

French construction group Vinci, which already owns the transport firm, Cofiroute, are thought to be among the domestic bidders.

'Quality bids'

Finance Minister Thierry Breton said in a statement he was delighted with the quality of the bids which will be examined in coming weeks.

"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.

However, opposition politicians have called on the government to abandon the sale.

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.

'Lucrative'

Maurice Leroy, a member of the opposition UDF party, said the sale was being done in haste.

"I am not surprised there are a lot of candidates to buy the motorway companies, notably from Spain or overseas, because it will be very lucrative for them," he told French TV channel France 2.

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.