French billionaire Francois Pinault said Friday he had secured financing to launch a take-over bid for French utility group Suez but would refrain from doing so because the environment was not "sufficiently calm".
A statement issued by Pinault's holding company Artemis read: "Artemis confirms that it has been exploring the opportunity of a public offer for the shares of Suez. "With this idea in mind, Artemis obtained the necessary financial commitments to successfully conclude such an operation."