General Electric has confirmed that it plans to buy a piece of Snecma (Hall 1, B17) when more of the French engine-maker's shares become available over the next six months or so. GE says it expects Snecma's majority owner, the French government, to put between 5% and 10% of the company up for sale—and GE intends to buy it. In June the French authorities started the privatization of Snecma when a 35% stake in the company was sold on the open market. GE says it is not interested in taking control of Snecma but does want to have a stake in what is already a valuable partner. GE and Snecma together control the CFM Engines joint venture.
