Axe 1 : Privatization has advantages
⇔Arg 1 ) Financial benefits for the State
☆Selling 52% of FDJ shares brings the French State around €2 billion.☆ This money can be used for public projects or investment in other strategic areas.
☆ FDJ also contributes €3.5 billion yearly through public contributions, which may continue after privatization.
⇔Arg 2 ) Investment opportunities & market efficiency
☆ Privatization allows institutional and private investors to buy shares.
☆ Could attract new investments, increase competitiveness, and make the company more efficient.
☆ Even small investors can participate (unique opportunity in France).
⇔Arg 3) Stakeholder view
☆ From a manager’s point of view : privatization can help raise capital, reorganize resources, and improve profitability.
☆ From the shareholder’s point of view : the company becomes more profit-driven, which can increase dividends.
Axe 2 : Privatization also has strong limits
⇔Arg 1) Loss of control for the State
☆ Selling 52% of shares means the State loses majority control.
☆ Risk that corporate decisions may prioritize profit over public interest, e.g., gambling addiction concerns.
☆ Even with a government commissioner on the board, influence is limited compared to full ownership.
⇔Arg 2 ) Social and ethical debate
☆FDJ helped veterans and farmers, so selling it may feel like losing part of France’s heritage.
☆ Making more profit could lead to more gambling, which can be risky for people.
⇔Arg 3 ) Stakeholder tensions
☆ Consumers may be affected if the company focuses too much on profit.
☆Employees may benefit from growth, but risk conflicts if cost-cutting is prioritized.
☆ State must balance economic gains with social responsibility.