Reuters reported that the head of mining group Eramet decision had not been taken about a reduction in the stake held by No 2 shareholder Areva or concerning an increase in Eramet's free float.

Mr Patrick Buffet CEO of Eramet said that he was open to having a larger free float but that it was up to shareholders to decide. Over time, it would not be out of the question to consider an increase in the free float of Eramet's capital. But there are no discussions taking place about such a plan and any decision would be the responsibility of Areva, which itself has the state as its shareholder, the Duval family and other shareholders and not me.

Sources close to the matter said last week Eramet backed the idea of a Areva lowering its stake as a way of boosting the free float with a view to joining France's main stock index as well as to quash rumours of a merger deal with the nuclear group.

Mr Buffet said that the company's limited free float was a barrier to its entry into the CAC-40 index adding that it was again a matter for shareholders to discuss.

(Sourced from Reuters)