<p>Forbes has cited Austrian daily newspaper Der Standard as reporting that the utilities are to retain their stake in the Austrian utility, even though Styria's regional government had been looking to convince Electricite de France (EDF) and Gaz de France (GDF) to sell their stakes. EDF and GDF hold their share through holding company Societe.<br /><br />According to Forbes, the Styria regional government had been planning to sell part of its own 74.9% stake in the regional utility in order to raise funds for the state's budget, reducing its share to just over 50%. Forbes commented that, to ensure those looking to buy its offloaded shares were not put off by the prospect of minority shareholders, officials had been trying to persuade EDF and GDF to divest their joint interest at the same time. <br /><br />Forbes cited the Der Standard as claiming that the Styria government had been favoring the Austrian utility Verbund to make the purchase.</p>
