French President Emmanuel Macron believes Europe's banking sector needs greater consolidation, even if that means a major French bank being bought by a European rival, he said in a TV interview with Bloomberg on Monday.
Macron has long been pushing for a European capital markets union, arguing the current fragmentation of the region's banking sector is a drag on the bloc's growth.
Asked if, for example, he would be willing to countenance the sale of France's Societe Generale (SOGN.PA) to Spain's Santander (SAN.MC), Macron said: "Dealing as Europeans means you need consolidation as Europeans."
Macron said he would not be happy if French oil company Total (TTEF.PA) were to move its primary listing to the United States but noted there were only rumours so far.
Macron's comments came on the same day that he welcomed chief executives from around the world to the annual "Choose France" summit at Versailles Palace. They pledged to invest a total of 15 billion euros ($16.17 billion) in the French economy, a record for the event.
The French presidency said the investments included 56 different business projects and could lead to the creation of 10,000 jobs.
