Proposed legislation to protect French companies in strategic sectors will not spell the end of foreign takeovers, according to a minister's aide.

The chief aide to François Loos, minister for trade, told Financial News that the country was keen to deflect accusations of protectionism. French companies have recently been involved in several cross-border deals, including Saint-Gobain's hostile bid for BPB, the UK plasterboard maker, France Télécom's acquisition of Spain's mobile company Amena and Pernod Ricard's purchase of UK spirits group Allied Domecq.