P.M. BRIEFING : France Eases Investment Rules
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PARIS — The government unveiled plans today to ease rules on foreign investment in France by groups from outside the 12-nation European Community.
The obligatory Treasury Ministry review of planned investments by non-Community companies will now be limited to one month, government spokesman Louis Le Pensec said after the weekly Cabinet meeting. No time limit previously existed.
Failure by the Treasury to reject a proposal within 30 days will mean the project can automatically go forward.
The new measure concerns only the acquisition of French companies by groups outside the Community. Current laws already allow foreign groups to freely create new companies under most circumstances.
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