Do More With Reuters

UK considering British Energy stake sale - FT

Sat Mar 15, 2008 3:51pm IST
 
Email | Print | | Single Page
[-] Text [+]

LONDON, March 15 (Reuters) - The UK government has approached energy suppliers to see if they are interested in its 35.2 percent stake in nuclear power company British Energy Group Plc (BGY.L: Quote, Profile, Research), the Financial Times reported on Saturday.

The newspaper quoted people close to the situation as saying Germany's E.ON AG EONG.DE and RWE (RWEG.DE: Quote, Profile, Research), France's EDF (EDF.PA: Quote, Profile, Research), Iberdrola (IBE.MC: Quote, Profile, Research) of Spain and Britain's Centrica (CNA.L: Quote, Profile, Research) were approached to see if they were interested in acquiring part of the stake, worth at least 2 billion pounds ($4.06 billion).

The newspaper said UBS had been mandated by the government to help with a potential sale while British Energy had appointed NM Rothschild as its advisor.

The FT said the government had declined to comment but it quoted an insider as saying: "Of course, we would look at any offer carefully".

Sue Fletcher, a spokeswoman for British Energy, said the company could not comment on speculation. (Reporting by Mike Elliott)

Photo

Catch the latest news, pictures, stats and live race commentary on our special Formula 1 page.  Full Coverage 

REUTERS POLL

Photo
Is India capable of handling natural disasters?
Yes
No
Can't say
Symbol Bid Ask
BRENT CRUDE $0.00 $0.00
MINI GOLD $798.20 $799.10
MINI SILVER $12.73 $12.76