Find the money and run

Nicolas Sarkozy’s endless hesitation on the future of Areva is costing the French nuclear plants maker dearly. The 90%-state-owned group has been stymied for two years, while waiting for a decision from the French government on how best to finance a multi-year, multi-billion euro investment programme. Anne Lauvergeon, Areva’s current chief executive, has long favoured an IPO for the company. Nicolas Sarkozy, when he was elected, seemed to favour a merger with Alstom, the turbine maker he helped...