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Centrica faces investor revolt on British Energy

rom The Times February 11, 2009Centrica faces investor revolt on British EnergyShareholders voice anger at the utility’s proposed £3.1bn nuclear deal and call on it to buy gas assets instead

Centrica is facing a shareholder rebellion over its plan to spend £3.1billion buying a stake in Britain’s nuclear industry.

A leading institutional shareholder in Centrica, the owner of British Gas, is urging the company to scrap its plan to acquire 25 per cent of British Energy from EDF of France and use the money to buy more gas assets instead.

The investor, which asked not to be named, is the latest in a growing chorus of City objectors to the deal.


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February 11, 2009 - Posted by | business and costs, UK

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