French water, waste, transport and energy-services utility Veolia Environnement SA's (VE) Chairman and Chief Executive Henri Proglio said Friday it is unlikely to become a shareholder in Suez Environnement - the unit to be spun off by Suez (SZEZY) as part of its tie-up with Gaz de France (1020848.FR).
When asked by reporters whether Veolia might enter the capital of a separately listed Suez Environnement, Proglio said: "I don't think so."
Proglio said competition concerns - both groups are French - would figure among reasons why the company is unlikely to become a shareholder in the future Suez Environnement.
Proglio made the remarks following a presentation of the company's full-year 2007 earnings.
During the presentation, when asked the same question by reporters, Proglio had said "why not," but later clarified that this had been a joke.