German utility RWE AG (RWE.XE) won't submit a binding offer for U.K. nuclear power plant operator British Energy Group PLC (BGY.LN), Handelsblatt reports Friday, citing unnamed financial sources.
RWE has decided not to submit a bid after its potential partner, Swedish state-controlled utility Vattenfall Group, dropped out of the race for British Energy, the daily paper says.
However, RWE will continue to monitor the situation to see if opportunities emerge at a later stage, the report says.
The deadline for bids for British Energy is Friday.
RWE declined to comment on the report.