'Energy supplier may sell further stake in BE' - 24/09/2009
French-owned energy company EDF may sell another stake in nuclear operator British Energy (BE) to raise funds for cheap energy nuclear redevelopment.
The company acquired BE earlier this year after a long period of negotiations and may be looking to sell a further 20 per cent stake to help raise greater funds and speed up the process of nuclear redevelopment in the UK, according to La Tribune.
If this took place, it would come only a short period after British Gas parent company Centrica acquired a 20 per cent stake in the firm, but EDF has denied plans to sell further stakes.
According to La Tribune, Morgan Stanley's infrastructure fund and the Abu Dhabi sovereign wealth fund are potential buyers.
Nuclear redevelopment is central to the government's plans to ensure future energy security in the UK and reduce Britain's dependence on imported gas and oil.
EDF was chosen to lead the project due to the energy supplier's extensive experience building nuclear reactors throughout Europe.
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