The French senate last night approved the government's plan to cut its stake in Gaz de France, the crucial article in paving the way for the utility's €34.7bn ($44.4bn) merger with rival Suez.

The senate approved article 10 of the tabled energy bill by 173 votes to 145 which allows the government to cut its stake in GdF from 80% to 34%, according to Il Sole 24 Ore.