France's President will "protect firms from foreign predators"

French President Nicolas Sarkozy, speaking at his first full press conference since his election seven months previously, vowed to defend French companies from foreign investment predators such as hedge funds or sovereign wealth funds, confirming his previous efforts on retaining and crating "nation champions."

He told the assembled press corp at the Elysee Palace that he would call on the state-controlled Caisse des Depots & Consignations to help protect French companies - possibly be becoming a shareholder - when they are targeted by hostile foreign investors.

The CDC is an investment bank for the government, holding some 37.0 billion euros ($54.47 billion) in shares of traded companies, according to an Associated Press report on the conference.