EDF, Centrica to buy British Energy: reports

0 Comments | AFP, July, 2008

LONDON (AFP) — French energy giant EDF and Centrica will buy British Energy for about 12 billion pounds (15.2 billion euros, 23.9 billion dollars) and could announce the deal early next week, reports said Thursday.

In reaction, nuclear power operator British Energy confirmed it was in "advanced" talks with one unnamed party. Both Centrica and EDF declined to comment.

The Times newspaper and the BBC reported on Thursday that EDF and Centrica were edging closer to clinching the takeover.

"We hope it will be done in the next few days," an executive close to the companies was quoted as saying on the BBC's news website, which added that the deal was not yet finalised and could still be delayed.

The Times, citing an adviser close to the matter, said that...