Centrica PLC (CNA.LN) and Iberdrola SA (IBE.MC) could still form a partnership to bid for British Energy PLC (BGY.LN), a person familiar with the matter told Dow Jones Newswires Friday.
Iberdrola is interested in taking over the British nuclear power generator, but doesn't want to go it alone, the person said. Talks are ongoing Friday and the ball is very much in Iberdrola's court, with Centrica waiting for their next move, the person said.
Electricite de France SA (1025251.FR) has had talks with Centrica about the possibility of partnering on a bid, but the French company looks most likely to mount a solo offer, the person said.
Centrica is still talking to EdF, and the possibility exists of cooperation after the bid, either by Centrica taking an equity share in the company or securing long-term contracts for electricity supply from British Energy reactors, the person said.