A2A SpA's (A2A.MI) management board will meet Friday to mandate official talks with Electricite de France SA (EDF.FR) over the companies' control of Edison SpA (EDN.MI), a top official at the Italian municipal utility said Tuesday.
A2A SpA's (A2A.MI) management board will meet Friday to mandate official
talks with Electricite de France SA (EDF.FR) over the companies' control of
Edison SpA (EDN.MI), a top official at the Italian municipal utility said
Tuesday.
The board will officially appoint General Manager Renato Ravanelli to negotiate
with EdF and set the guidelines for the future control of
Edison
, said
Rosario Bifulco, a member of A2A's supervisory board, in
Milan
.
A2A's supervisory board also discussed how Edison's natural gas-fired plants
have gained value, after the Japanese nuclear plant meltdown earlier in the
year boosted the growth prospects of gas, Bifulco told reporters.
This means A2A will seek better terms in negotiations with EdF for
Edison
,
Italy
's No.
2 electricity and gas company, as part of a preliminary agreement to split the
assets up, with the French company taking over
Edison
.
Friday's board meeting will also set the rules regarding an exit from
Edison
, said
Bifulco.
A2A and EdF have a shareholders' pact that ends on Sept. 15 and have said they
aim to reach an agreement by that date.
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