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Why did France own many shares in the Suez Canal Company?
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Suez Canal
Ships in the Suez Canal in Egypt. One of the world's most important shipping lanes, the Suez Canal connects the Mediterranean Sea and the Red Sea.
The Suez Canal Company was incorporated as a joint-stock company with its headquarters in Paris. When the company was organized in 1858, its founder, Ferdinand de Lesseps, sought international participation to fund the project.123
Despite his efforts, the French public were the primary investors who responded to his call, ultimately purchasing 52 percent of the company's shares. This high level of French ownership was largely due to Lesseps's success in rousing the French people to subscribe to the capital needed for the venture, as other nations—most notably Great Britain—remained skeptical or hostile toward the project during its early stages.123