EDF Could Sell 20% Stake in British Energy

20 September 2009 (Last Updated September 20th, 2009 18:30)

France's EDF is looking for a partner for UK nuclear power generator British Energy as part of its ongoing campaign to sell off about €5bn ($7.35bn) of assets, according to a report in the French newspaper La Tribune. EDF wasn't immediately available to comment on the report, ac

France's EDF is looking for a partner for UK nuclear power generator British Energy as part of its ongoing campaign to sell off about €5bn ($7.35bn) of assets, according to a report in the French newspaper La Tribune.

EDF wasn't immediately available to comment on the report, according to Reuters.

Last May EDF sold a 20% stake in British Energy to Centrica for €2.5bn. Now the French electricity generator is said to be contemplating the sale of a further 20% stake in British Energy, according to the French newspaper.

The sale would allow EDF to keep majority control over British Energy, while opening the UK market to more competition, according to Reuters.

EDF has also decided to sell its UK electricity distribution network, which analysts have valued at around €3bn, according to British press reports.

British Energy operates eight nuclear power stations and is the country's biggest power generator by volume.