8 May 2008
The final touches are being put to a bid for British Energy (BE) Group from the Spanish outfit Iberdrola, it has been claimed.
Such a move is set to be finalised by Friday when Rothschild wants all interested parties to have shown an interest, the Times said.
The publication noted that both EDF Energy and Iberdrola are due to make bids of about 600 to 700p a share for BE at the end of the week.
But another company that may have potentially come in with a bid, Sweden's Vattenfall, has pulled out of the race after pressure from the government there because it opposes nuclear energy.
A source also told the Times that Iberdrola could be trying to search out partners in a bid while attempting to make its own proposal.
Earlier this week, it was also reported that EDF Energy is set to table a £6 million proposition for the British outfit.
© 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.