PARIS (Reuters) - An association of employee shareholders of EDF (PA:EDF) has asked French regulator AMF to oblige the French state to launch a 32 euros per share bid for the utility to buy out minority shareholders.
In a letter to French market regulator AMF, seen by Reuters on Tuesday, EDF Actionnariat Salarie (EAS) asks AMF to consider requiring the state to launch a so-called public withdrawal bid (Offre Publique de Retrait).
In a document published by EAS, the group alleges the government abused its position as a majority shareholder by forcing EDF to go ahead with its project to build two nuclear plants in Britain, which EAS says is too risky for EDF.
It said it wants the government to launch a public bid at 32 euros per share, the price at which EDF was taken public in 2005. EDF shares closed 2.74 percent higher at 11.61 euros on Tuesday.