November 27, 2018 / 11:19 AM / 17 days ago

France will consider increasing its stake in EDF: Elysee source

FILE PHOTO: The logo of Electricite de France SA (EDF) is pictured on the facade of a building in Paris, France, August 5, 2018. REUTERS/Regis Duvignau/File Photo GLOBAL BUSINESS WEEK AHEAD

PARIS (Reuters) - The French government will consider boosting its stake in energy utility EDF (EDF.PA) and will ask the company to make proposals about changing its structure, a source close to the Elysee presidential palace said on Tuesday.

The source said the government will ask the company, which is 83.7 percent state-owned, to propose alterations to its corporate structure, which will have to preserve the integrity of the firm and allocate adequate financing for each activity.

“The state will consider boosting its stake in the capital of the company in line with the challenges and risks linked to the nuclear activity,” the source said.

The source declined to be more specific, but industry specialists expect that EDF could be asked to put its nuclear activities into a separate legal unit in which the state could raise its stake to 100 percent, taking it off the market.

Reporting by Michel Rose and Bate Felix; Writing by Geert De Clercq

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