RWE linked to British Energy stake

18 March 2008

[Die Welt, 18 March] A source close to RWE's board of directors told German newspaper Die Welt on Sunday that it had given the 'green light' for the company to bid for a stake in British Energy. A price of €2.5 billion ($3.9 billion) was mentioned in connection with a 35.2% stake, equal to the British government's current holding. Yesterday, British Energy followed stock market rules by notifying shareholders within one working day that it was in official discussions with parties interested in at least 1% of the company. The UK company owns the most promising sites for nuclear new build in Britain, and has been in partnership discussions with many European utilities besides RWE. The UK government said recently it was keeping its ownership of the stake "under review."

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