EDF Rises on Report of State Buyout

Date : 04/15/2019 @ 11:33AM
Source : Dow Jones News
Stock : EDF (EDF)
Quote : 12.83  -0.02 (-0.16%) @ 4:39PM
EDF share price Chart

EDF Rises on Report of State Buyout

EDF (EU:EDF)
Historical Stock Chart

1 Month : From Mar 2019 to Apr 2019

Click Here for more EDF Charts.
   By Nathan Allen 
 

Shares in Electricite de France SA (EDF.FR) were trading higher Monday morning on a report that France's government is considering buying out minority shareholders at a hefty premium to the company's current valuation.

French newspaper Le Parisien reported that the French government, which holds an 84% stake in EDF, is considering paying between 6 billion euros and 8 billion euros ($6.78 billion-$9.04 billion) to repurchase the equity owned by minorities.

The midpoint of the proposed range would be equivalent to a roughly 20% premium on Friday's closing price, investment bank Jefferies said.

At 0954 GMT shares were trading 3.3% higher at EUR12.52.

According to Le Parisien, EDF's strategy committee is due to meet late May to review options, and the plan will be presented to management and unions in June.

 

Write to Nathan Allen at nathan.allen@dowjones.com

 

(END) Dow Jones Newswires

April 15, 2019 06:18 ET (10:18 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:us D:20190420 18:21:55