CH payment services provider Ingenico’s shares fell yesterday after a takeover offer from a US buyer was scuppered by opposition from its top shareholder, state-backed defence group Safran.
Safran, 30 per cent owned by the French government, holds 22.5 per cent of Ingenico.
It blocked the €1.44bn (£1.22bn) offer as a result of political pressure to prevent the company passing into foreign hands, analysts said. French industry minister Eric Besson said it was a “strategic” business. Shares closed six per cent off at €26.05.