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You are here:  Home / Energy Resources / British Energy will not go to EDF

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British Energy will not go to EDF

Published: May 12, 2008 at 6:04 PM
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LONDON, May 12 (UPI) -- The British government has ruled out selling British Energy (NYSE:BGY) to just one bidder.

Even though France's EDF was the sole bidder still interested as of Friday's deadline for bids, the government has decided that the owner of Britain's nuclear reactors will not be a single company. British Energy's existing nuclear sites will likely be split between buyers, the Daily Telegraph reported.

The British government has a 35.2 percent share in British Energy and is maintaining its position that no one entity should have full ownership.

Sources have said the government would prefer to grant the winning company the sale of just six sites, thereby leaving the door open for another firm, such as Centrica, the only realistic British bidder, to acquire the remaining two.

Centrica has said it is still interested in acquiring part of British Energy and is banking on being able to jump on board with the winner to acquire assets post-sale.



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