The board of British Energy Group PLC (BGY.LN) is expected to recommend a GBP10 billion takeover bid by France's Electricite de France (1024251.FR) within two weeks, with an annoucement possible this week, The Observer newspaper reported Sunday.
Citing banking sources, The Observer said it was unlikely that remaining rival bidders Germany's RWE AG (RWEOY) and Spain's Iberdrola SA (IBDRY) would now table a firm offer for nuclear power company British Energy.
This weekend, EdF was talking to banks about raising an estimated GBP10 billion loan to finance the bid and could be ready to make its final fully financed bid towards the end of this week, The Observer said.
Other sources said the deal may not be disclosed until later in the month, The Observer reported.