Electricite de France (EU:EDF)
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By Nathan Allen
Shares in Electricite de France SA (EDF.FR) were trading higher Monday morning on a report that France's government is considering buying out minority shareholders at a hefty premium to the company's current valuation.
French newspaper Le Parisien reported that the French government, which holds an 84% stake in EDF, is considering paying between 6 billion euros and 8 billion euros ($6.78 billion-$9.04 billion) to repurchase the equity owned by minorities.
The midpoint of the proposed range would be equivalent to a roughly 20% premium on Friday's closing price, investment bank Jefferies said.
At 0954 GMT shares were trading 3.3% higher at EUR12.52.
According to Le Parisien, EDF's strategy committee is due to meet late May to review options, and the plan will be presented to management and unions in June.
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(END) Dow Jones Newswires
April 15, 2019 06:18 ET (10:18 GMT)
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