Suez exits from bidding for British Energy

23 May 2008

French utility Suez announced that it has ended talks with British Energy (BE) about a potential offer for the UK company. Suez said, "As previously indicated, the completion of the merger with Gaz de France remains Suez's key priority. Accordingly, Suez confirms that, in its discussions regarding the future development of the nuclear energy sector in the UK, those relating to a potential offer for British Energy have now ceased." Suez added, "As a consequence of this statement, the City Code prohibits Suez from resuming discussions relating to a potential offer for British Energy before the conclusion of its merger with Gaz de France." Centrica of the UK, Electricite de France (EdF), Germany's RWE and Spain's Iberdrola are all reported to be interested in BE. 

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