According to counsel, the conclusion of the Gaz de France and Suez merger is a score for governments who look after their national assets.
The €70 billion merger creates the world's third largest utility company of which the French state will hold a 40% stake in the merged entity. The new company will itself hold a 35% stake in Suez Environment after Suez succumbed to French pressure to spin off its water and waste utility.
"It was interesting to see...