Wednesday 24 September 2008

The Frogs take over British Energy.

In a major move the French group EDF is to acquire a major stake in British Energy. It is being the biggest foreign investment ever by a foreign group in the United Kingdom. The £12.5bn deal has still to be approved by British Energy shareholders
but is supported by the UK government, which has a 36 per cent stake in the nuclear power group.
www.searchaccountants.co.uk
UK firm Centrica will take a 25 pct stake in the four new nuclear power plants, which are planned. However, there is concern over foreign control of such a strategic sector.
I wonder why the City was so keen to sell our power firms. German groups RWE and E.ON, Spanish group Iberdrola and EDF now have a dominant role over supplying us electricity. Let's hope they have our best interests at heart.

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