Tuesday, January 9, 2007

Royal criticizes French companies

In addition to her call for greater cooperation between France and an emerging China, Segolene Royal had something special to say to French businesses, which have recently lost several bids for Chinese companies. Just this November a French bank lost a bid for Guangdong Development Bank to the American bank Citigroup.

"It's too easy when France loses a deal to go and look for justifications that have nothing to do with the performance and the competence of the companies themselves or their strategy. That really is a French way of looking at things -- to suppose that when you lose a deal it's somebody else's fault. (...) I want French firms to carry out their own analyses so it doesn't happen again and they're in a better position when the next tenders come round."

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