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Macron had pledged to cut the holding back to its longstanding
level of 15 percent after temporarily raising it to 19.7 percent
last April, in order to secure double voting rights in a vote at
the company's 2015 shareholder meeting.
Renault shares fell 8.9 percent on Thursday after the disclosure
that its offices had been raided by French authorities
investigating understated engine emissions in the wake of the
Volkswagen diesel test-rigging scandal.
At 1240 GMT on Friday the stock was down 3 percent at 75.42
euros.
"Our intention is not to sell these shares at a loss to the
taxpayer," Macron told reporters during a visit to an electric
bus factory in western France.
"We will divest these shares only when they have returned to
their normal price," he said, without elaborating on the
required level.
(Reporting by Pierre-Henri Allain; writing by Laurence Frost;
editing by Jason Neely)
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