This article is 19 years old. Images might not display.
German newspaper the Financial Times Deutschland reported the German Government was prepared to let the major German coal mining and chemical company float during the second quarter of 2007 if it did not lay off the workers.
The newspaper also reported that under the agreement, RAG stakeholders E.ON AG, ThyssenKrupp AG and RWE AG would sell their shares to the Government for the symbolic price of 1 euro per share in exchange for debt relief.
The agreement is expected to be revealed Wednesday at the coal industry conference.
An initial public offering of the company has been on the cards for some time, with reports the deal could net as much as €6 billion.
