France will sell €10 billion worth of state assets to finance projects geared towards innovation, a finance ministry source said today.

"It will be done as soon as market conditions will allow," the source said, adding that these would mostly concern minority stakes.

While campaigning for the presidency, Emmanuel Macron had said he would set up a €10 billion fund to promote industrial and research projects, but official comments over the past days had raised questions over whether this would all be financed by the sale of state stakes or not.

Finance Minister Bruno Le Maire on Thursday said the sale of state assets would start in September.

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