UK government still prefers EDF deal for British Energy

Conferences

Normal 0 21 false false false MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Normál táblázat"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} A takeover of British Energy by Electricite de France is still the government’s preferred option for the nuclear generator, the Financial Times reported on Monday.

The paper said energy minister Malcolm Wicks told it a deal with EDF was “the most sensible option”, adding: “We think that’s the natural link”. The government, which owns about 35% of British Energy, gave the green light in January to new nuclear power stations to help cut carbon emissions and reduce reliance on energy imports. This sparked takeover interest in British Energy, which lacks the expertise to build new plants but whose land holdings alongside existing nuclear power stations are viewed as the best sites for new developments.

Over the weekend, The Sunday Telegraph newspaper reported British Energy’s largest investor, Invesco, wants it to merge with utility Centrica and then “work out a joint venture with EDF to build nuclear sites (in Britain)”.

On August 4, Centrica said it might revive plans to merge with British Energy after French power group EDF’s £12 billion bid for the nuclear power company stalled. A government spokesman said at the time that Britain’s preferred option remains a takeover by EDF. (Reuters)

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.