Page last updated at 10:47 GMT, Monday, 22 December 2008

EDF allowed to buy British Energy

Nuclear power plant
EDF is the world's largest nuclear generator

French Energy company EDF has won permission from the European Union competition authorities to buy British Energy, subject to certain conditions.

EDF has to sell one plant it owns and one that British Energy (BE) owns, and sell a minimum amount of electricity to the British wholesale market.

It also has to end a connection agreement with the National Grid.

Earlier this month, EDF raised its stake in BE to 89%, after offering 12.4bn for the company in September.

"The commission concluded that the transaction, as modified by these commitments, would not significantly impede effective competition," the competition authority said.

EDF is the world's biggest operator of nuclear facilities - 58 reactors in France supply 80% of the country's electricity.

It will now take over BE's eight nuclear power plants and has unveiled plans to build four new nuclear reactors in the UK.

An initial deal for EDF to buy BE in July was called off after shareholders protested.

The improved offer has now been accepted by shareholders, and the deal has been approved by the both the French and UK governments.



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