Sarkozy freezes Vinci takeover of ASF

Vinci, France's largest construction group, has agreed to freeze its creeping hostile takeover of Autoroutes du Sud de la France in exchange for a seat on the motorway operator's board.

The truce was announced late on Thursday by Nicolas Sarkozy, the finance minister, who brokered the three-way shareholder pact that was approved at an ASF board meeting on Wednesday.

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