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French government moves to fully nationalise the nuclear industry

The French state acquired enough EDF shares on the market to start
squeeze-out proceedings as it fully nationalises the nuclear energy giant,
the finance ministry said on Friday.

The government now holds 92.71% of
voting rights in EDF, the ministry said, marking the successful end of the
full takeover proceedings, launched by President Emmanuel Macron’s
government last summer, which cost Paris some $10 million.

Debt-laden EDF, Europe’s biggest nuclear power operator, runs France’s nuclear reactor
fleet, some hydropower plants and other production sites and supplies
millions of households with electricity. Its de-listing from the Paris
stock market will be the end of an era for the utility which was partially
privatised in 2005, when a chunk of its share capital was floated at 33
euros ($35.82) a share.

Reuters 20th Jan 2023


January 23, 2023 - Posted by | France, politics

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