France to nationalize country’s biggest power provider ...News

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France to nationalize country’s biggest power provider
source : Russia Today ( News ) () 12
The state will buy EDF amid Europe’s worsening energy crisis France has announced a takeover bid to gain full control of the country’s largest utility, EDF. The government has made an offer of €9.7 billion ($9.9 billion) to nationalize electricity provider EDF, the country’s Ministry of Economy and Finance said on Tuesday. The state already owns 84% of the company’s shares. The government plans to file the offer with the Financial Markets Authority by early September and hopes to complete the takeover at the end of October, Euronews reported, citing the ministry. The state will offer €12 a share, a premium of 53%

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