What is the similarity between Danone and Deoleo? [br] [originaltext] The Fre

The French government once scuttled a possible foreign bid for Danone, a big dairy firm, on the ground that it was a national industrial "jewel". If yogurt is strategic for the French, olive oil has the same exalted status in Spain. Four savings banks wanted to sell their combined 31% stake in Deoleo, the country’s largest producer, and under Spain’s stock market rules anyone buying such a large stake has to bid for the whole company. Earlier this month, when it emerged that all the bidders were foreign, ministers said they would prefer that it remained in Spanish hands, and raised the possibility of the state taking a stake in the firm. On April 10th a British private-equity firm, CVC Capital, won the backing of Deoleo’s board after making the highest offer. But given the controversy over selling to foreigners, two of the four would-be sellers now look like keeping their stakes. CVC will end up owning 30% of Deoleo but will later seek to buy the rest.
   Olive oil accounts for a mere 0. 8% of Spain’s exports. Yet it is an extra-sensitive matter. The country is the world’s largest producer of the oil, but one-third of its exports are sent in bulk to Italy where it is bottled and sold, often for a significant markup, under Italian labels. French- and Italian-labeled wines typically fetch higher prices than Spanish-labeled ones, though the gap is narrowing.
   Spain has come a long way, compared with the relatively closed economy it had before joining the European Union in 1986. More recently, rising exports have helped pull the country out of a deep recession. Its olive oil is winning new customers in places like China and Mexico. But the country clearly has some way to go in raising the prestige of the " Made in Spain" label.