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| Version 1 | Version 2 |
|---|---|
| No EDF takeover of British Energy | No EDF takeover of British Energy |
| (about 2 hours later) | |
| French energy company EDF is not about to announce a takeover of British Energy, the firm has told the BBC. | French energy company EDF is not about to announce a takeover of British Energy, the firm has told the BBC. |
| EDF and British Gas owner Centrica were expected to pay more than £12bn for the company, which owns eight British nuclear power stations. | EDF and British Gas owner Centrica were expected to pay more than £12bn for the company, which owns eight British nuclear power stations. |
| The French company said: "After in depth discussions, EDF considers that the conditions for a major development in Great Britain are not met to date." | The French company said: "After in depth discussions, EDF considers that the conditions for a major development in Great Britain are not met to date." |
| EDF will hold its half-year results meeting on Friday morning as planned. | EDF will hold its half-year results meeting on Friday morning as planned. |
| Government stake | |
| A spokesman for EDF in Paris would not comment on whether the deal was off or just delayed. | |
| British Energy, which generates about 20% of the UK's electricity, is part-owned by the British government which wants to sell its stake. | British Energy, which generates about 20% of the UK's electricity, is part-owned by the British government which wants to sell its stake. |
| The firm was privatised in 1996 but ended up being bailed out in 2002 by the government after running into severe financial difficulties. | The firm was privatised in 1996 but ended up being bailed out in 2002 by the government after running into severe financial difficulties. |
| It is 35% owned by the government, and the deal would have raise as much as £4bn for the Chancellor. | It is 35% owned by the government, and the deal would have raise as much as £4bn for the Chancellor. |
| Centrica was negotiating with EDF to be its minority partner in the acquisition, and was expected to pay around £3bn for a 25% stake. | Centrica was negotiating with EDF to be its minority partner in the acquisition, and was expected to pay around £3bn for a 25% stake. |
| 'Interest high' | |
| British Energy's sites are considered prime locations for the government's proposed new generation of nuclear power plants. | British Energy's sites are considered prime locations for the government's proposed new generation of nuclear power plants. |
| A spokesman for the Department for Business, Enterprise & Regulatory Reform said: "Our commitment to nuclear power is clear. | |
| "The go ahead for new nuclear power, alongside our action to promote energy saving and renewables is in Britain's long term national interest. | |
| "The level of interest in nuclear new build remains high and recent months have shown there are strong signals of an appetite for this from the market." |