S&S makes initial offer for EDF

Scottish & Southern Energy has made an indicative offer for the UK distribution network of French power company EDF, its finance director confirmed yesterday. “We have put in an indicative bid, it’s at a very early stage of the process,” finance director Gregor Alexander said on the sidelines of an energy conference in London. Alexander declined to comment on the value of the bid. EDF is hoping to get more than €4bn (£3.8bn) for the network to help cuts its debts. Scottish & Southern was expected to make its bid together with Canadian infrastructure investor Borealis.