Discussions are ongoing between French power group Electricite de France SA (EDF.FR) and other shareholders of Italian utility Edison SpA (EDN.MI), after Italy's market regulator struck a blow to a plan to reorganize Edison's shareholding increase EDF's stake in the company to more than 80%, a spokeswoman said Thursday.
Discussions are ongoing between French power group Electricite de France
SA (EDF.FR) and other shareholders of Italian utility Edison SpA (EDN.MI),
after
Italy
's
market regulator struck a blow to a plan to reorganize
Edison
's
shareholding increase EDF's stake in the company to more than 80%, a spokeswoman
said Thursday.
Late Wednesday, EDF said it is seeking alternative ways to "secure"
the future of
Edison
after the regulator, Consob,
said the price offered by the utility for a planned bid for additional shares
in
Edison
was too low.
Consob said Wednesday that the EUR0.84-a-share price offered by EDF is only
representative of one part of a more complex operation and that a fairer price
would be in a range of EUR0.84-EUR0.95.
In December, the companies involved in the deal said the EUR0.84 price offered
by the French company had been agreed between EDF and the Italian investors and
was in line with the average stock market price over the past 12 months.
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