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| Version 3 | Version 4 |
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| Nuclear takeover bid called off | |
| (about 2 hours later) | |
| A deal that would have involved the sale of most of the UK's nuclear power stations to a French state-owned energy firm now appears uncertain. | |
| EDF had been expected to announce it was buying British Energy which owns eight reactors in the UK. | |
| However, EDF put out a statement saying conditions were not right for it to proceed with the £12bn deal. | |
| British Energy's nuclear power stations are seen as some of the best sites for new reactors in the UK. | |
| Government stake | |
| 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. |
| The firm, which is 85% owned by the French government, is the biggest nuclear power generator in the world. | |
| A spokesman for EDF in Paris would not comment on whether the deal, which apparently broke down over price, was off or just delayed. | A spokesman for EDF in Paris would not comment on whether the deal, which apparently broke down over price, was off or just delayed. |
| The level of interest in nuclear new build remains high...there are strong signals of an appetite for this from the market Department for Business spokesman | The level of interest in nuclear new build remains high...there are strong signals of an appetite for this from the market Department for Business spokesman |
| 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' | '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. |
| EDF has other options for developing nuclear facilities in the UK, having bought land adjacent to two existing nuclear plants. | EDF has other options for developing nuclear facilities in the UK, having bought land adjacent to two existing nuclear plants. |
| A spokesman for the Department for Business, Enterprise & Regulatory Reform said: "Our commitment to nuclear power is clear. | 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 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." | "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." |
| BBC News business correspondent Nils Blythe says although the deal could yet be revived, the latest development is a setback for the government which wants to get the building of new nuclear power stations under way as soon as possible. | BBC News business correspondent Nils Blythe says although the deal could yet be revived, the latest development is a setback for the government which wants to get the building of new nuclear power stations under way as soon as possible. |