France to make final EDF takeover offer by end of September

A formal offer will reportedly be filed within days

Big Zero Report 2022

The French Government reportedly plans to launch its final takeover bid for EDF by the end of this month.

According to Reuters, although French policymakers had made clear their intentions to buy the remaining share in the energy giant, the process has been delayed due to the complexity of the financial details of the deal.

Currently, the French Government owns 83.9% of the company’s capital.

In July, during a speech to France’s Parliament, Prime Minister Elisabeth Borne said: “We must have full control over our electricity production and performance.”

Following Ms Borne’s announcement about the intention to buy the company, an association of EDF employee shareholders threatened it could take legal action against the government as they claimed that the decision defied the interests of the company’s minority shareholders.

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