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Paris court confirms EDF board Hinkley Point vote

Published 05/08/2016, 19:35
© Reuters. The logo of France's state-owned electricity company EDF is seen next to the Electricite de France (EDF) thermal electricity production plant in Cordemais
EDF
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PARIS (Reuters) - A Paris court on Friday confirmed the EDF (PA:EDF) board's investment decision on the Hinkley Point nuclear newbuild project in Britain, an EDF Works Council official told Reuters.

The French state-controlled utility's Works Council had asked the Paris court to annul the board's vote, arguing that it had not received the necessary documents from management to give a non-binding preliminary advice to the company.

"The Works Council takes note of the court's unfavourable decision," the official said.

He added that the court's decision did not invalidate a separate Works Council lawsuit asking the court to oblige EDF management to release confidential documents relating to Hinkley Point. A hearing in that case is set for September 22.

On Thursday last week, EDF's board approved the controversial 18 billion euro (£15.2 billion) project with a narrow majority, but just hours later the government of new British Prime Minister Theresa May said it wanted more time to reconsider and would decide in the autumn.

In a letter to top EDF executives earlier this week, Chief Executive Jean-Bernard Levy admitted that he knew before the board meeting that the British government wanted to delay its Hinkley Point decision.

© Reuters. The logo of France's state-owned electricity company EDF is seen next to the Electricite de France (EDF) thermal electricity production plant in Cordemais

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