April 5, 2012 / 1:52 PM / 6 years ago

EDF aims to complete Edison buyout by June-source

PARIS, April 5 (Reuters) - French utility EDF aims to finish its proposed takeover of Italian utility Edison by the end of June and negotiations to that end are ongoing, according to an internal company source.

Italian market regulator Consob said on Wednesday that EDF needed to raise the price it had proposed to buy out Edison shareholders, putting a question mark over the French group’s plans to take control of the Italian utility.

In December, after months of wrangling, EDF reached a long-awaited deal to win control of Italy’s No. 2 power generator Edison for 700 million euros.

“We’re confident that the deal will be completed by the end of June,” said the EDF source. “The negotiations are continuing.” (Reporting by Benjamin Mallet, Writing by Leila Abboud; Editing by Christian Plumb)

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