EDF made lone bid for British Energy, report says
French utility company EDF is going it alone in its bid for the UK government's 35% stake in nuclear power station operator British Energy, newswire Reuters reported sources as saying.
Recent reports suggested EDF and RWE were interested in teaming up with British Gas owner Centrica to bid for the company, but RWE lost interest according to German newspaper Handelsblatt.
Reuters quoted the sources as saying that the EDF bid would be "substantially less" than 700p a share. The Times newspaper last month said the French utility would be willing to pay more than 700p.
Spain's Iberdrola, which owns Scottish Power, is also reportedly interested in British Energy, but did not step forward with a bid Friday, the day on which the government's bid deadline expires.
The absence of a bidding war will disappoint the UK government, but it does still have the option of asking for a third round of bids which would allow other bidders to enter; today's bid deadline was for a second round of bids that had to include financing details.
UK company Centrica reportedly made an indicative bid of 700p in the first round of bidding and is not prepared to increase it, Reuters reported an industry source as saying.
| BGY - British Energy Group |
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