8 April 2008
Centrica has stated that it will look to make a minority bid into British Energy, according to reports.
Sources said that the utility firm would be willing to purchase a 10% or 20% stake as part of a bigger consortium for the outfit, reports the Independent.
A bid made between companies such as RWE from Germany, France's EDF Energy and Centrica itself could value British Energy at £10 billion.
The source told the newspaper that nothing has been set in stone at this stage and the details of a deal are still some way off.
"At the moment the parties are exploring opportunities and there is no definite plan in place. It is still a matter of if, rather than when," the insider remarked.
While Centrica at first had wished to make a larger bid for British Energy, it has been hit in recent times by dropping share prices.
The firm says that it helps to supply energy to millions of homes in its operating areas of the UK, Europe and North America.
© 2008 Adfero Ltd
Content for the uSwitch.com market news service is provided by a third party, Adfero Ltd. Whilst uSwitch.com makes reasonable efforts to check the reliability of this content, uSwitch.com does not guarantee the accuracy thereof or endorse the views or opinions given by Adfero Ltd, unless expressly stated otherwise.