🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

EDF shares rise 15% after France details buyout plan

Published 19/07/2022, 08:14
© Reuters. FILE PHOTO: View of the company logo of Electricite de France (EDF) on the facade of EDF's headquarters in Paris, France, July 7, 2022. REUTERS/Johanna Geron
EDF
-

PARIS (Reuters) - Shares in debt-laden utility EDF (EPA:EDF) rose 15% on Tuesday as they resumed trading after the French government unveiled a 9.7 billion euros ($9.85 billion) buyout offer that gives it full control over Europe's biggest nuclear power operator.

At 0705 GMT, EDF shares were up 15.3% at 11.79 euros.

© Reuters. FILE PHOTO: A general view shows the cooling towers and the reactors of the Electricite de France (EDF) nuclear power plant in Cattenom, France, February 14, 2022. REUTERS/Pascal Rossignol/File Photo

The finance ministry said in a statement that the 12 euros per share price offer represented a 53% premium to the closing price of EDF shares on July 5, the day before the government announced its intention to fully nationalise the group.

EDF shares had closed at 10.2250 euros on July 12, the last day of trading before they were suspended.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.