Naval defence technology company DCNS has bought an 8% stake in Irish tidal renewable energy company OpenHydro for €14m.

French president Nicolas Sarkozy insisted in the face of widening strikes today that France needs reform, saying: “We will not surrender and we will not retreat.”

Thousands of people filled the streets of five French cities today to protest plans to build the next generation of nuclear reactors – fuel-efficient but seen by anti-nuclear activists as a relaunching of France’s nuclear energy programme.

FRENCH stocks gained yesterday, led by Electricite de France after speculation that the region’s biggest power generator may be planning to bid for Iberdrola, Spain’s second-largest utility.

A shortage of electricity in mainland Europe’s power grid caused blackouts across the continent, halting trains, trapping people in lifts and plunging millions of homes into darkness.

Electricite de France (EDF) is set to raise up to €7bn when it is partially privatised next week, it was announced today.

The French government today said was to sell a 17.7% stake in Air France-KLM, the world’s largest airline, in a move that would help the state reduce its debt and scale back its influence on the Franco-Dutch carrier.

French President Jacques Chirac will today launch an intensive week of meetings with Asian leaders aimed at promoting French companies and cementing Europe-Asia ties.

ELECTRICITY workers cut power to a former French prime minister yesterday as part of a national day of action against government plans to partly privatise public utilities.

Electricity workers cut power to a former French prime minister today as part of a national day of action against government plans to partly privatise public utilities.

France’s biggest trade union claimed responsibility today for causing power cuts at three major Paris railway stations and warned there would be more protests over plans for the partial privatisation of the country’s gas and power utilities.

Gaz de France, the state-owned gas distributor, wants to sell shares on the stock market as soon as possible after its status is changed to a corporations, chief executive Pierre Gadonneix has said.

ATTEMPTS by Alphyra, the electronic payments firm taken private by management last year, to acquire British company PayPoint have run into trouble.

Dublin based electronic payments firm Alphyra has agreed to buy a majority stake in PayPoint, which runs a network of electronic payment terminals installed in UK stores, for £80m (€119.3m).

French Finance Minister Francis Mer said the future privatisation of Electricite de France will be advantageous for the utility company, as it will keep it from running in to problems with the EU's anti-competition legislation.