EDF is favourite to swoop for British Energy

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

But City sources warned that a firm bid from EDF, which could come as early as today, could be trumped by offers from any or all of RWE of Germany, Iberdrola of Spain and French firm Suez.

EDF is reportedly close to landing the up-for-sale 35% shareholding in British Energy held by the UK Government, a legacy of the British taxpayers' bailout of the company four years ago.

An acquisition of that stake would trigger an automatic takeover bid for the rest of British Energy, which operates eight nuclear power stations around the country.

EDF, whose London-based communications director Andrew Brown is the Prime Minister's brother, has been at the forefront of the pro-nuclear build campaign in the UK. It has lobbied No 10 to be allowed to build four nuclear power stations in Britain at a cost of about £12 billion.

An EDF takeover of British Energy would throw up serious competition issues as, with its current ownership of UK power stations, it would have more than 25% of the country's generating capacity.

It could also cause a political storm as EDF has bought British companies such as London Electricity and Seeboard in the past decade, but UK companies have not been allowed into protectionist France.

City sources also warned that an acquisition of British Energy has been complicated because its shares, down 61/2p at 7081/2p today, have put a market capitalisation on the company way ahead of most analysts' fair-value estimates.