RWE AG's (RWE.XE) Chief Executive Juergen Grossmann Tuesday reiterated the German utility's interest in expanding its nuclear power business abroad, but said the company won't get involved in bidding battles.
The Essen-based company wants to grow in the nuclear energy sector and participate in the renaissance of atomic energy currently taking place in countries like the U.K, Romania and Bulgaria, Grossmann told reporters in Hamburg late Tuesday.
However, "we won't engage in bidding wars," Grossmann said.
He didn't specifically mention British Energy Group PLC (BGY.LN), in which RWE is reportedly interested, but his comments appear to refer to the current bid speculation surrounding the U.K. nuclear power plant operator.
Early in April, the Financial Times reported that RWE made an indicative cash offer for British Energy several weeks ago at close to 700 pence a share, valuing British Energy at around GBP11 billion.
Grossmann also said that RWE seeks to participate in nuclear power plant projects outside its domestic German market in order to maintain its nuclear expertise.
"If this isn't possible in Germany then we have to do this elsewhere," Grossmann said.
In Germany, the outlook for nuclear power plant operators, such as RWE or its main domestic rival E.ON AG (EOA.XE), are bleak in light of the country's plan to gradually phase out all of its remaining nuclear reactors by around 2021.