The State will fully control EDF on “June 8”, ures the Minister of the Economy, Bruno Le Maire

Soon the end of the series? The complete control of EDF by the State will be effective on “June 8”ured Bruno Le Maire, Minister of the Economy, Tuesday, May 23 on RTLand will allow “ carry out the construction program for six new EPRs in the best possible conditions [réacteurs nucléaires de dernière génération] » ; of “strengthens[r] the country’s energy independence” and of “set clear requirements for EDF”among other things the increase in the production of nuclear electricity while Russian gas is lacking.

Before the government announced its intention to regain full control of the group, the state owned 84% of EDF, before crossing the 90% threshold last January. But the process fell months behind schedule. At the beginning of May, the court dismissed the appeal small holders of EDF who hoped to obtain a better price for their shares (12 euros), which enabled the takeover bid to continue.

Disputes from small shareholders

To date, the State holds “at least 98.04%” voting rights, according to a press release from the Financial Markets Authority (AMF) published on Tuesday May 23 and consulted by Agence France-Presse. “The State today sent the AMF a request to implement the squeeze-out”also announced the Ministry of the Economy, in order to force the holders of the remaining 2% to sell their shares.

The renationalisation of the energy company was able to continue despite protests from small shareholders. All this must also lead to “lowest possible price” for customers and “guarantee EDF unity”, ured the Mayor. It was in October 2005 that the government of Dominique de Villepin had undertaken the partial privatization of EDF, before that of Elisabeth Borne announced the renationalisation − estimated at around 9.7 billion euros − last July.

The World with AFP

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