Independent - British Energy auction plunged into doubt as EDF refuses to increase offer
The auction of British Energy has been thrown into disarray after the nuclear power group rejected the only offer it has so far received, while EDF, the jilted suitor, signalled that it would not budge on price. The board of British Energy told the French power group at the weekend that its bid, thought to have valued the company at around £11bn, was too low. The rejection leaves an auction, for which the Government held high hopes, at an impasse and could mean that the company will remain independent.
The board of British Energy told the French power group at the weekend that its bid, thought to have valued the company at around £11bn, was too low. The rejection leaves an auction, for which the Government held high hopes, at an impasse and could mean that the company will remain independent.
