Suez won't acquire British Energy stake

PARIS, March 31 (UPI) -- French utility Suez said it won't buy a stake in British Energy, removing itself from a list of suitors for BE, The Glasgow Herald reported.

The French utility said it will instead focus on its planned merger with Gaz de France. Suez did say, however, it would be interested in reaching a deal to develop and produce reactors with the Scottish-based nuclear power provider.

"If we can play an industrial role, let's talk about it … but if this is strictly a financial role, then we are not interested," said Gerard Mestrallet, the chief executive of Suez.

Suez was in regular contact with British Energy representatives, leading to the speculation it might buy a stake, but Mestrallet said it was waiting to find out what role the company and the U.K. government wanted the potential partners to take.