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23.05.2024.

10:40

Macron on his knees: "Don't leave France"

France supports companies that believe in it, its President Emmanuel Macron said in an interview published on Wednesday, when asked about the possibility of oil giant TotalEnergies seeking a listing on the US stock market.

Izvor: biznis.rs/vladimir jokanović

Macron on his knees: "Don't leave France"
EPA-EFE/STEPHANIE LECOCQ

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TotalEnergies, a pillar of the French CAC 40 stock index, is one of the largest oil companies in the world and an important representative of French influence. A change in the stock exchange would be a blow to the prestige of Paris as a center of international trade, reports Reuters.

"France supports those who believe in France, not others. I don't think TotalEnergies ever complained about being a French company when it entered export markets," Macron told L'Express magazine.

"It is in the interest of TotalEnergies to stay in France," said the French president.

Constantly under public scrutiny for its carbon footprint and windfall energy profits, TotalEnergies offers fuel discounts to drivers in its home country and is a major employer.

The company's chief executive officer, Patrick Pouyanné, said in April that TotalEnergies was "seriously" considering a primary listing in New York to ensure easier access to US investors.

He emphasized that his company will remain listed in France even if it decides to appear on Wall Street.

"We have more and more US shareholders and less and less European shareholders, including French shareholders – probably because of all the debates about ESG standards," Pouyanné said this month, adding that he would report to the board on plans by September.

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