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EDF in talks to buy minority stake in Russia's Inter RAO UES - report


Published : Sun, 14 Oct 2007 20:53
By : Agencies
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MOSCOW (Thomson Financial) - EDF is in talks to acquire a minority stake in Russia's Inter RAO UES electricity exporter, the daily Kommersant reported citing people familiar with the situation.

The sources did not know the exact size of the stake which EDF could acquire, though one of them told the newspaper, 'they won't take less than 25 pct.'

Analysts contacted by the newspaper estimated that Inter RAO is worth between 2.0-3.5 bln usd, indicating that EDF would have to pay 500-875 mln usd for 25 pct of the utility.

alfred.kueppers@thomson.com

amk/jms

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Copyright Thomson Financial News Limited 2007. All rights reserved.

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