EDF move for British Energy May 10th, 2008

EDF, the French utility giant, has made an offer for British Energy as part of the bidding process for which the deadline was yesterday. EDF’s proposal was tabled on Friday morning, although the offer price has not been disclosed.

EDF has long been one of the front runners to take over British Energy together with RWE (Germany), Iberdrola (Spain) and our own Centrica. Shares in British Energy have risen on the prospect of a sale and the news that the UK government is allowing new nuclear power stations to be built. 

A successful sale will mean another business operating in a key industry ends up with foreign owners, a prospect that does not sit comfortably with some.