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UK energy firm looks for partner
Britain's main nuclear power operator British Energy Group said on Monday it was in talks which could lead to a tie-up or an offer for the £6.7 billion ($13.2 billion) company, boosting its shares.
- Reuters
- Published: 00:41 March 18, 2008
London: Britain's main nuclear power operator British Energy Group said on Monday it was in talks which could lead to a tie-up or an offer for the £6.7 billion ($13.2 billion) company, boosting its shares.
British Energy has been talking to several international power firms in recent months about partnerships to build new reactors after the UK government gave the go-ahead to a nuclear renaissance.
It was from these talks that the possibility of a closer tie-up developed, a source close to the situation said. Shares in British Energy, which generates about a sixth of the country's electricity, shot up nearly 19 per cent to an 18-month high of 680 pence, valuing the group at around £6.7 billion.
"The board announces that the company is in discussions with interested parties in the context of its future and its plans to take a pivotal role in any new nuclear programme," British Energy, which is 35-per cent owned by the UK government, said in a statement.
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